Personal Income Tax Rates

The OECD defines tax as a compulsory unrequited payment to the government. A taxable base is the base amount on which the tax rate is applied—such as corporate income, personal income, or property.

 
 
Source
Central bank

Bank of Albania

International Reserves

USD 3.9 billion (2018)

International Monetary Fund (IMF), data retrieved October 2019

Gross Domestic Product - GDP

USD 15.2 billion (2018, estimate)

GDP (Purchasing Power Parity)

Intl$ 38.4 billion (2018, estimate)

Real GDP growth
2007 2008 2009 2010 2011 2012 2013
6% 7.5% 3.4% 3.7% 2.5% 1.4% 1%
2014 2015 2016 2017* 2018*    
1.8% 2.2% 3.3% 3.8% 4.2%    

*Estimate

GDP per capita - current prices

USD 5,288.9 (2018, estimate)

GDP per capita - PPP

Intl$ 13,344.5 (2018, estimate)

GDP (PPP) - share of world total
1980 1990 2000 2010 2019*
0.04% 0.03% 0.03% 0.03% 0.03%

*Estimate

 
 
Source
GDP - composition by sector
  • agriculture: 18.4% 
  • industry: 21.3% 
  • services: 47.9%

(2018 estimate)

Gross domestic expenditure on R&D; (% of GDP)

N/A

Inflation
2015 2016 2017 2018* 2019*
1.9% 1.3% 2% 2% 1.8%

*Estimate

Unemployment rate
2015 2016 2017 2018* 2019*
17.1% 15.2% 13.8% 12.2% 13.7%

*Estimate

Household saving rates

N/A

Public debt (General government gross debt as a % of GDP)
2015 2016 2017 2018* 2019*
73.7% 73.3% 71.9% 69.9% 66.7%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2013 2014 2015 2016* 2017*
-4.1% -1.8% -1.4% -1.6% -2.5%

*Estimate   

Government bond ratings

Standard & Poor's: B+

Moody's: B1

Standard & Poor's / Moody's 

Market value of publicly traded shares
2016 2017 2018
N/A N/A N/A
Largest companies

N/A

 
 
Source
Current account balance

USD -1.0 billion (2018 estimate)

Current account balance by percentage of GDP

-6.8 % (2018 estimate)

Exports as percent of GDP (Exports of goods and services)

31.7% (2018)

Shares in world total merchandising export

0.01% (2018)

Shares in world total commercial services export

0.06% (2018)

Total exports

USD 4.8 billion (2018)

Export commodities

Apparel and clothing, footwear; asphalt, metals and metallic ores, crude oil; cement and construction materials, vegetables, fruits, tobacco

Total imports

USD 6.9 billion (2018 estimate)

 
 
Source
Import commodities

Machinery and equipment, foodstuffs, textiles, chemicals

Exports - major partners

Italy 53.4%, Kosovo 7.7%, Spain 5.6%, Greece 4.2% (2017)

Imports - major partners

Italy 28.5%, Turkey 8.1%, Germany 8%, Greece 8%, China 7.9%, Serbia 4% (2017)

FDI inflows
2016 2017 2018
USD 1,100 million USD 1,146 million USD 1,294 million
FDI outflows
2016 2017 2018
USD 64 million USD 26 million USD 83 million
Value of cross-border M&A, by country of purchaser
2015 2016 2017 2018
N/A USD -100 million N/A N/A
Cross-border M&A deals worth over $3 billion completed in 2014

N/A

(for a monthly update on M&A; click here )

Cross-border M&A deals worth over $3 billion completed in 2015

N/A

(for a monthly update on M&A; click here )

Best countries for doing business

Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

Overall ranking:

82 out of 190 countries

​Subcategories:
Starting a Business: 53 out of 190 countries
Dealing with Construction Permits: 166 out of 190 countries
Getting Electricity: 107 out of 190 countries
Registering Property: 98 out of 190 countries
Getting Credit: 48 out of 190 countries
Protecting Minority Investors: 111 out of 190 countries
Paying Taxes: 123 out of 190 countries
Trading across Borders: 25 out of 190 countries
Enforcing Contracts: 120 out of 190 countries
Resolving Insolvency: 39 out of 190 countries

Global competitiveness ranking

81 out of 141 countries

(2019)

Index of Economic Freedom

Ranking: 52 / Score: 66.5 (Moderately free)

(100=totally free 0=totally repressed)

 
 
Source
Time zone

UTC+1

Total area

28,748 sq km

Capital

Tirana (Tirane) 

Currency

Leke (ALL) 

Government type

Parliamentary republic

Languages

Albanian 98.8% (official - derived from Tosk dialect), Greek 0.5%, other 0.6% (including Macedonian, Romani, Vlach, Turkish, Italian, and Serbo-Croatian), unspecified 0.1% (2011 est.)

Religions

Muslim 56.7%, Roman Catholic 10%, Orthodox 6.8%, atheist 2.5%, Bektashi (a Sufi order) 2.1%, other 5.7%, unspecified 16.2% (2011 est.)

Total population
1990 2000 2010 2015 2020*
3.29 million 3.09 million 2.91 million 2.88 million 2.87 million

*Estimate

 
 
Source
Urban population as % of total population
1960 1980 2000 2018
30.7% 33.8% 41.7% 60.3%
Population median age

33.4 years 

Population growth rate

0.3% (2018 estimate)

Life expectancy

78.6 years (2018 estimate)

Literacy

Total population: 97.6% 
Male: 98.4% 
Female: 96.9%
Definition: age 15 and over can read and write (2015 est.)

% of population living on less than $3.10 a day

7.7% (last available estimate, 2012)

Inequality of wealth distribution (Gini index)

29 (last available estimate, 2012)

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Partly Free
Political Rights: 3
Civil Liberties: 3 (2019)
(1 represents the most free, 7 the least free rating)

Source
Total telephone subscribers as % of population

Fixed: 8.6%

Mobile: 94.2%

(2018)

(fixed-telephone subscribers and mobile-cellular subscribers)

Internet users as % of total population

71.85 % (2017)

Mercer Cost of living index

Tirana: 166th (2019)

CO2 emissions

1.98 metric tons per capita (2014)

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