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 4.82 billion (2020)
World Bank, last updated 12/16/2021

Gross Domestic Product - GDP

USD 16.77 billion (2021 estimate)
IMF - World Economic Outlook, October 2021

GDP (Purchasing Power Parity)

USD 44.49 billion (2021 estimate)
IMF - World Economic Outlook, October 2021

Real GDP growth
2017 2018 2019 2020* 2021*
3.8% 4.1% 2.2% –3.3% 5.3%

*Estimate

GDP per capita - current prices

USD 5,837.18 (2021 estimate)
IMF - World Economic Outlook, October 2021

GDP per capita - PPP

USD 15,487.00 (2021 estimate)
IMF - World Economic Outlook, October 2021

GDP (PPP) - share of world total

0.03% (2021 estimate)
IMF - World Economic Outlook, October 2021

 
 
Source
GDP - composition by sector
  • agriculture: 19.3% 
  • industry: 19.7% 
  • services: 48.4%

(2020 estimate)

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

N/A

Inflation
2017 2018 2019 2020* 2021*
2% 2% 1.4% 1.6% 1.9%

*Estimate

Unemployment rate
2017 2018 2019 2020* 2021*
13.7% 12.3% 11.5% 11.7% 12%

*Estimate

Household saving rates

N/A

Public debt (General government gross debt as a % of GDP)
2017 2018 2019 2020* 2021*
71.9% 69.5% 67.8% 77.6% 81.5%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2017 2018 2019 2020* 2021*
0.7% 0.9% 0.1% –4.7% –4.5%

*Estimate

Government bond ratings

Standard & Poor's: B+

Moody's: B1

Standard & Poor's / Moody's (January 2022)

Market value of publicly traded shares

N/A

Largest companies

N/A

 
 
Source
Current account balance

USD -1.5 billion (2021 estimate)
IMF - World Economic Outlook, October 2021

Current account balance by percentage of GDP

-8.6% (2021 estimate)
IMF - World Economic Outlook, October 2021

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

23.1% (2020)
World Bank - World Development Indicators (updated Feb 2022)

Shares in world total merchandising export

0.01% (2020)

Shares in world total commercial services export

0.05% (2020)

Total exports

USD 3.5 billion (2020 estimate)

Export commodities

Leather footwear and parts, crude petroleum, iron alloys, clothing, electricity, perfumes (2019)

Total imports

USD 5.7 billion (2020 estimate)

 
 
Source
Import commodities

Refined petroleum, cars, tanned hides, packaged medical supplies, footwear parts (2019)

Exports - major partners

Italy 45%, Spain 8%, Germany 6%, Greece 5%, France 4%, China 4% (2019)

Imports - major partners

Italy 28%, Greece 12%, China 11%, Turkey 9%, Germany 5% (2019)

FDI inflows
2018 2019 2020
USD 1.3 billion USD 1.3 billion USD 1.1 billion
FDI outflows
2018 2019 2020
USD 83 million USD 128 million USD 89 million
Value of cross-border M&A, by country of purchaser

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
World Bank - Doing Business 2020

Global competitiveness ranking

81 out of 141 (2019)

Index of Economic Freedom

Ranking: 50 / Score: 66.6 (Moderately Free)
The Heritage Foundation - 2022 Index of Economic Freedom

 
 
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
3.3 million 3.1 million 2.9 million 2.9 million 2.8 million
 
 
Source
Urban population as % of total population
1960 1980 2000 2020
30.7% 33.8% 41.7% 62.1%
Population median age

34.3 years (2022 est.)

Population growth rate

0.22% (2022 est.)

Life expectancy

79.5 years (2022 estimate)

Literacy

Total population: 98.1%

Male: 98.5%

Female: 97.8% (2018)

Definition: age 15 and over can read and write 

% of population living on less than $3.10 a day

1.2% (last available estimate, 2019)

Inequality of wealth distribution (Gini index)

30.8 (last available estimate, 2019)

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Total score: 67/100

Status: Partly Free

Political Rights: 28/40

Civil Liberties: 39/60 (2022)

Source
Total telephone subscribers as % of population

Fixed: 7.8%

Mobile: 91.0% (2020) (fixed-telephone subscribers and mobile-cellular subscribers)

Internet users as % of total population

72.2% (2020)

Mercer Cost of living index

N/A

CO2 emissions

1.9 metric tons per capita (2018)

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