Albania - Economic Indicators

Economic Overview

Albania, a formerly closed, centrally-planned state, is a developing country with a modern open-market economy. Albania managed to weather the first waves of the global financial crisis but, the negative effects of the crisis caused a significant economic slowdown. Since 2014, Albania’s economy has steadily improved and economic growth reached 3.8% in 2017. However, close trade, remittance, and banking sector ties with Greece and Italy make Albania vulnerable to spillover effects of possible debt crises and weak growth in the euro zone. Remittances, a significant catalyst...

Continue reading View Factbook for Albania

GDP Reference Last Previous Units Frequency
Private Consumption 2017 1,254,462,515,175 1,199,331,417,028 ALL Annual
Nominal Gross Domestic Product 2017 1,552,982,941,858 1,475,250,833,603 ALL Annual
Real Private Consumption 2016 9,952,609,644 10,016,915,518 2010 USD Annual
Real Government Consumption 2016 34,527,425,600 33,269,866,100 NCU Annual
Real Gross Domestic Product 2016 760,515,814,700 735,722,064,900 NCU Annual
Real Investment 2016 232,921,873,600 219,779,081,800 NCU Annual
Real Fixed Investment (gross fixed capital formation) 2016 232,921,873,600 219,779,081,800 NCU Annual
Nominal Fixed Investment (gross fixed capital formation) 2016 373,328,071,000 351,814,940,300 NCU Annual
Investment 2016 400,539,218,500 377,538,214,500 NCU Annual
Government Consumption 2016 162,170 159,361 Mil. ALK Annual
Price Reference Last Previous Units Frequency
Consumer Price Index (CPI) Mar 2018 118.84 118.5 2010=100, NSA Monthly
Producer Price Index (PPI) Mar 2014 102.02 102.11 2010=100, NSA Monthly
Wholesale Price Index 1986 95.24 100 Index 2010 = 100 Annual
Labor Reference Last Previous Units Frequency
Unemployment Rate 2023 12.4 12.65 Percent Of Total Labor Force Annual
Agriculture Employment 2017 537,004 541,478 # Annual
Wage & Salaries 2017 Q4 82,556,642 75,770,248 USD, NSA Quarterly
Labor Force 2016 1,331,765 1,333,025 # Annual
Unemployment 2016 Q4 192.34 204.55 Ths. Quarterly
Total Employment 2016 1,157 1,086 Ths. Annual
Labor Force Employment 2016 Q4 1,166 1,183 Ths. Quarterly
Trade Reference Last Previous Units Frequency
Imports of Goods May 2018 527.67 498.83 Mil. USD, NSA Monthly
Exports of Goods May 2018 280.32 253.82 Mil. USD, NSA Monthly
Current Account Balance 2017 Q4 -346,719,062 -141,992,882 USD, NSA Quarterly
Balance of Goods 2017 Q4 -927,134,754 -885,368,074 USD, NSA Quarterly
Net Exports May 2017 24,220 24,021 Mil. ALK Monthly
Exports of Goods and Services 2016 426,693,000,000 391,098,000,000 NCU Annual
Real Exports of Goods and Services 2016 417,878,801,500 369,869,699,600 NCU Annual
Real Imports of Goods and Services 2016 493,819,983,500 459,880,756,800 NCU Annual
Imports of Goods and Services 2016 674,866,037,300 638,749,000,000 NCU Annual
Real Net Exports 2012 -246,401,467,658 -348,124,393,336 NCU Annual
Government Reference Last Previous Units Frequency
Government Budget Balance 2023 -41.59 -43.62 Billions National Currency Annual
Government Revenues 2023 607.29 574 Billions National Currency Annual
Outstanding Public Debt 2023 1,361 1,312 Billions National Currency Annual
Outstanding Public Debt - Foreign 2016 8,437,141,000 8,350,309,000 DOD; current USD Annual
Outstanding Public Debt - Domestic 1998 356,200,000 3,296,120,000 ALL Annual
Markets Reference Last Previous Units Frequency
Lending Rate Aug 2017 6.02 7.06 % p.a., NSA Monthly
Money Market Rate Jun 2017 1.25 1.25 % - End of period Monthly
Treasury Bills (over 31 days) Jan 2017 1.22 % p.a., NSA Monthly
Business Reference Last Previous Units Frequency
Change in Inventories 2015 25,723,274,200 5,813,823,600 NCU Annual
Real Change in Inventories 2014 0 NCU Annual
Demographics Reference Last Previous Units Frequency
Birth Rate 2050 9.08 9.06 # per Ths. pop., NSA Annual
Death Rate 2050 12.02 11.86 # per Ths. pop., NSA Annual
Population 2050 2,824,012 2,842,146 Person, NSA Annual
Births 2015 32,715 35,760 #, NSA Annual
Deaths 2015 22,418 20,656 #, NSA Annual
Net Migration 2012 -93,425 # Annual

Factbook

Background

Background:
Albania declared its independence from the Ottoman Empire in 1912, but was conquered by Italy in 1939 and occupied by Germany in 1943. Communist partisans took over the country in 1944. Albania allied itself first with the USSR (until 1960), and then with China (to 1978). In the early 1990s, Albania ended 46 years of xenophobic communist rule and established a multiparty democracy. The transition has proven challenging as successive governments have tried to deal with high unemployment, widespread corruption, dilapidated infrastructure, powerful organized crime networks, and combative political opponents.
Albania has made progress in its democratic development since first holding multiparty elections in 1991, but deficiencies remain. Most of Albania's post-communist elections were marred by claims of electoral fraud; however, international observers judged elections to be largely free and fair since the restoration of political stability following the collapse of pyramid schemes in 1997. Albania joined NATO in April 2009 and in June 2014 became a candidate for EU accession. Albania in April 2017 received a European Commission recommendation to open EU accession negotiations. Although Albania's economy continues to grow, it has slowed, and the country is still one of the poorest in Europe. A large informal economy and a weak energy and transportation infrastructure remain obstacles.

Geography

Location:
Southeastern Europe, bordering the Adriatic Sea and Ionian Sea, between Greece to the south and Montenegro and Kosovo to the north
Geographic coordinates:
41 00 N, 20 00 E
Map references:
Europe
Area:
total: 28,748 sq km
land: 27,398 sq km
water: 1,350 sq km
country comparison to the world: 145
Area - comparative:
slightly smaller than Maryland
Land boundaries:
total: 691 km
border countries (4): Greece 212 km, Kosovo 112 km, Macedonia 181 km, Montenegro 186 km
Coastline:
362 km
Maritime claims:
territorial sea: 12 nm
continental shelf: 200-m depth or to the depth of exploitation
Climate:
mild temperate; cool, cloudy, wet winters; hot, clear, dry summers; interior is cooler and wetter
Terrain:
mostly mountains and hills; small plains along coast
Elevation:
mean elevation: 708 m
elevation extremes: lowest point: Adriatic Sea 0 m
highest point: Maja e Korabit (Golem Korab) 2,764 m
Natural resources:
petroleum, natural gas, coal, bauxite, chromite, copper, iron ore, nickel, salt, timber, hydropower, arable land
Land use:
agricultural land: 42.86%
arable land 52.42%; permanent crops 6.84%; permanent pasture 40.73%
forest: 28.19%
other: 28.95% (2014 est.)
Irrigated land:
3,537 sq km (2014)
Population - distribution:
a fairly even distribution, with somewhat higher concentrations of people in the western and central parts of the country
Natural hazards:
destructive earthquakes; tsunamis occur along southwestern coast; floods; drought
Environment - current issues:
deforestation; soil erosion; water pollution from industrial and domestic effluents; loss of biodiversity due to lack of resources for sound environmental management
Environment - international agreements:
party to: Air Pollution, Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Ozone Layer Protection, Wetlands
signed, but not ratified: none of the selected agreements
Geography - note:
strategic location along Strait of Otranto (links Adriatic Sea to Ionian Sea and Mediterranean Sea)

People & Society

Population:
3,047,987 (July 2017 est.)
country comparison to the world: 136
Nationality:
noun: Albanian(s)
adjective: Albanian
Ethnic groups:
Albanian 82.6%, Greek 0.9%, other 1% (including Vlach, Romani, Macedonian, Montenegrin, and Egyptian), unspecified 15.5% (2011 est.)
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%
note: all mosques and churches were closed in 1967 and religious observances prohibited; in November 1990, Albania began allowing private religious practice (2011 est.)
Age structure:
0-14 years: 18.05% (male 290,572/female 259,544)
15-24 years: 17.47% (male 275,969/female 256,416)
25-54 years: 41.06% (male 597,421/female 653,965)
55-64 years: 11.54% (male 173,105/female 178,575)
65 years and over: 11.89% (male 169,681/female 192,739) (2017 est.)
population pyramid:
Dependency ratios:
total dependency ratio: 44
youth dependency ratio: 26
elderly dependency ratio: 18.1
potential support ratio: 5.5 (2015 est.)
Median age:
total: 32.9 years
male: 31.6 years
female: 34.3 years (2017 est.)
country comparison to the world: 95
Population growth rate:
0.31% (2017 est.)
country comparison to the world: 170
Birth rate:
13.2 births/1,000 population (2017 est.)
country comparison to the world: 149
Death rate:
6.8 deaths/1,000 population (2017 est.)
country comparison to the world: 136
Net migration rate:
-3.3 migrant(s)/1,000 population (2017 est.)
country comparison to the world: 178
Population distribution:
a fairly even distribution, with somewhat higher concentrations of people in the western and central parts of the country
Urbanization:
urban population: 59.3% of total population (2017)
rate of urbanization: 1.81% annual rate of change (2015-20 est.)
Major urban areas - population:
TIRANA (capital) 454,000 (2015)
Sex ratio:
at birth: 1.09 male(s)/female
0-14 years: 1.12 male(s)/female
15-24 years: 1.07 male(s)/female
25-54 years: 0.91 male(s)/female
55-64 years: 0.98 male(s)/female
65 years and over: 0.89 male(s)/female
total population: 0.98 male(s)/female (2017 est.)
Mother's mean age at first birth:
24.5 years (2014 est.)
Maternal mortality ratio:
29 deaths/100,000 live births (2015 est.)
country comparison to the world: 115
Infant mortality rate:
total: 11.9 deaths/1,000 live births
male: 13.3 deaths/1,000 live births
female: 10.5 deaths/1,000 live births (2017 est.)
country comparison to the world: 124
Life expectancy at birth:
total population: 78.5 years
male: 75.8 years
female: 81.4 years (2017 est.)
country comparison to the world: 59
Total fertility rate:
1.51 children born/woman (2017 est.)
country comparison to the world: 195
Contraceptive prevalence rate:
69.3% (2008/09)
Health expenditures:
8.2% of GDP (2014)
country comparison to the world: 108
Physicians density:
1.29 physicians/1,000 population (2013)
Hospital bed density:
2.9 beds/1,000 population (2013)
Drinking water source:
improved:
urban: 84.3% of population
rural: 81.8% of population
total: 83.6% of population
unimproved:
urban: 15.7% of population
rural: 18.2% of population
total: 16.4% of population (2015 est.)
Sanitation facility access:
improved:
urban: 95.5% of population
rural: 90.2% of population
total: 93.2% of population
unimproved:
urban: 4.5% of population
rural: 9.8% of population
total: 6.8% of population (2015 est.)
HIV/AIDS - adult prevalence rate:
0.1% (2016 est.)
country comparison to the world: 99
HIV/AIDS - people living with HIV/AIDS:
1,700 (2016 est.)
country comparison to the world: 118
HIV/AIDS - deaths:
<100 (2016 est.)
Obesity - adult prevalence rate:
21.7% (2016)
country comparison to the world: 85
Children under the age of 5 years underweight:
6.3% (2009)
country comparison to the world: 80
Education expenditures:
3.5% of GDP (2015)
country comparison to the world: 130
Literacy:
definition: age 15 and over can read and write
total population: 97.6%
male: 98.4%
female: 96.9% (2015 est.)
School life expectancy (primary to tertiary education):
total: 16 years
male: 15 years
female: 16 years (2015)
Unemployment, youth ages 15-24:
total: 39.8%
male: 39.3%
female: 40.8% (2015 est.)
country comparison to the world: 17

Government

Country name:
conventional long form: Republic of Albania
conventional short form: Albania
local long form: Republika e Shqiperise
local short form: Shqiperia
former: People's Socialist Republic of Albania
etymology: the English-language country name seems to be derived from the ancient Illyrian tribe of the Albani; the native name "Shqiperia" is derived from the Albanian word "Shqiponje" ("Eagle") and is popularly interpreted to mean "Land of the Eagles"
Government type:
parliamentary republic
Capital:
name: Tirana (Tirane)
geographic coordinates: 41 19 N, 19 49 E
time difference: UTC+1 (6 hours ahead of Washington, DC, during Standard Time)
daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October
Administrative divisions:
12 counties (qarqe, singular - qark); Berat, Diber, Durres, Elbasan, Fier, Gjirokaster, Korce, Kukes, Lezhe, Shkoder, Tirane, Vlore
Independence:
28 November 1912 (from the Ottoman Empire)
National holiday:
Independence Day, 28 November (1912) also known as Flag Day
Constitution:
history: several previous; latest approved by the Assembly 21 October 1998, adopted by referendum 22 November 1998, promulgated 28 November 1998
amendments: proposed by at least one-fifth of the Assembly membership; passage requires at least a two-thirds majority vote by the Assembly; referendum required only if approved by two-thirds of the Assembly; amendments approved by referendum effective upon declaration by the president of the republic; amended several times, last in 2016 (2017)
Legal system:
civil law system except in the northern rural areas where customary law known as the "Code of Leke" prevails
International law organization participation:
has not submitted an ICJ jurisdiction declaration; accepts ICCt jurisdiction
Citizenship:
citizenship by birth: no
citizenship by descent only: at least one parent must be a citizen of Albania
dual citizenship recognized: yes
residency requirement for naturalization: 5 years
Suffrage:
18 years of age; universal
Executive branch:
chief of state: President of the Republic Ilir META (since 24 July 2017)
head of government: Prime Minister Edi RAMA (since 10 September 2013); Deputy Prime Minister Senida MESI (since 13 September 2017)
cabinet: Council of Ministers proposed by the prime minister, nominated by the president, and approved by the Assembly
elections/appointments: president indirectly elected by the Assembly for a 5-year term (eligible for a second term); a candidate needs three-fifths majority vote of the Assembly in 1 of 3 rounds or a simple majority in 2 additional rounds to become president; election last held in 4 rounds on 19, 20, 27, and 28 April 2017 (next election to be held in 2022); prime minister appointed by the president on the proposal of the majority party or coalition of parties in the Assembly
election results: Ilir META elected president; Assembly vote - 87 - 2 in fourth round
Legislative branch:
description: unicameral Assembly or Kuvendi (140 seats; members directly elected in multi-seat constituencies by proportional representation vote to serve 4-year terms)
elections: last held on 25 June 2017 (next to be held in 2021)
election results: percent of vote by party - PS 48.3%, PD 28.9%, LSI 14.3%, PDIU 4.8%, PSD 1%, other 2.7%; seats by party - PS 74, PD 43, LSI 19, PDIU 3, PSD 1
Judicial branch:
highest court(s): Supreme Court (consists of 17 judges, including the chief justice); Constitutional Court (consists of 9 judges, including the chairman)
judge selection and term of office: Supreme Court judges, including the chairman, appointed by the president with the consent of the Assembly to serve single 9-year terms; Constitutional Court judges appointed by the president with the consent of the Assembly to serve single 9-year terms with one-third of the membership renewed every 3 years; chairman elected by the People's Assembly for a single 3-year term
subordinate courts: Courts of Appeal; Courts of First Instance
Political parties and leaders:
Democratic Party or PD [Lulzim BASHA]
Party for Justice, Integration and Unity or PDIU [Shpetim IDRIZI] (formerly part of APMI)
Social Democratic Party or PSD [Skender GJINUSHI]
Socialist Movement for Integration or LSI [Monika KRYEMADHI]
Socialist Party or PS [Edi RAMA]
Political pressure groups and leaders:
Confederation of Trade Unions of Albania or KSSH [Kol NIKOLLAJ]
Omonia [Leonidha PAPA]
Union of Independent Trade Unions of Albania or BSPSH [Gezim KALAJA]
International organization participation:
BSEC, CD, CE, CEI, EAPC, EBRD, EITI (compliant country), FAO, IAEA, IBRD, ICAO, ICC (national committees), ICCt, ICRM, IDA, IDB, IFAD, IFC, IFRCS, ILO, IMF, IMO, Interpol, IOC, IOM, IPU, ISO (correspondent), ITU, ITUC (NGOs), MIGA, NATO, OAS (observer), OIC, OIF, OPCW, OSCE, PCA, SELEC, UN, UNCTAD, UNESCO, UNIDO, UNWTO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO
Diplomatic representation in the US:
chief of mission: Ambassador Floreta FABER (since 18 May 2015)
chancery: 2100 S Street NW, Washington, DC 20008
telephone: [1] (202) 223-4942
FAX: [1] (202) 628-7342
consulate(s) general: New York
Diplomatic representation from the US:
chief of mission: Ambassador Donald LU (since 13 January 2015)
embassy: Rruga e Elbasanit, 103, Tirana
mailing address: US Department of State, 9510 Tirana Place, Dulles, VA 20189-9510
telephone: [355] (4) 2247-285
FAX: [355] (4) 2232-222
Flag description:
red with a black two-headed eagle in the center; the design is claimed to be that of 15th-century hero George Kastrioti SKANDERBEG, who led a successful uprising against the Ottoman Turks that resulted in a short-lived independence for some Albanian regions (1443-78); an unsubstantiated explanation for the eagle symbol is the tradition that Albanians see themselves as descendants of the eagle; they refer to themselves as "Shqiptare," which translates as "sons of the eagle"
National symbol(s):
black double-headed eagle; national colors: red, black
National anthem:
name: "Hymni i Flamurit" (Hymn to the Flag)
lyrics/music: Aleksander Stavre DRENOVA/Ciprian PORUMBESCU
note: adopted 1912

Economy

Economy - overview:
Albania, a formerly closed, centrally-planned state, is a developing country with a modern open-market economy. Albania managed to weather the first waves of the global financial crisis but, the negative effects of the crisis caused a significant economic slowdown. Since 2014, Albania’s economy has steadily improved and economic growth reached 3.8% in 2017. However, close trade, remittance, and banking sector ties with Greece and Italy make Albania vulnerable to spillover effects of possible debt crises and weak growth in the euro zone.
Remittances, a significant catalyst for economic growth, declined from 12-15% of GDP before the 2008 financial crisis to 5.8% of GDP in 2015, mostly from Albanians residing in Greece and Italy. The agricultural sector, which accounts for more than 40% of employment but less than one quarter of GDP, is limited primarily to small family operations and subsistence farming, because of a lack of modern equipment, unclear property rights, and the prevalence of small, inefficient plots of land. Complex tax codes and licensing requirements, a weak judicial system, endemic corruption, poor enforcement of contracts and property issues, and antiquated infrastructure contribute to Albania's poor business environment making attracting foreign investment difficult. Since 2015, Albania has launched an ambitious program to increase tax compliance and bring more businesses into the formal economy. In July 2016, Albania passed constitutional amendments reforming the judicial system in order to strengthen the rule of law and to reduce deeply entrenched corruption.
Albania’s electricity supply is uneven despite upgraded transmission capacities with neighboring countries. However, the government has recently taken steps to stem non-technical losses and has begun to upgrade the distribution grid. Better enforcement of electricity contracts has improved the financial viability of the sector, decreasing its reliance on budget support. Also, with help from international donors, the government is taking steps to improve the poor road and rail networks, a long standing barrier to sustained economic growth.
Inward FDI has increased significantly in recent years as the government has embarked on an ambitious program to improve the business climate through fiscal and legislative reforms. The government is focused on the simplification of licensing requirements and tax codes, and it entered into a new arrangement with the IMF for additional financial and technical support. Albania’s three-year IMF program, an extended fund facility arrangement, was successfully concluded in February 2017. The Albanian Government has strengthened tax collection amid moderate public wage and pension increases in an effort to reduce its budget deficit. The country continues to face high public debt, exceeding its former statutory limit of 60% of GDP in 2013 and reaching 72% in 2016.
GDP (purchasing power parity):
$35.87 billion (2017 est.)
$34.59 billion (2016 est.)
$33.46 billion (2015 est.)
note: data are in 2017 dollars
unreported output may be as large as 50% of official GDP
country comparison to the world: 126
GDP (official exchange rate):
$13 billion (2017 est.)
GDP - real growth rate:
3.7% (2017 est.)
3.4% (2016 est.)
2.2% (2015 est.)
country comparison to the world: 85
GDP - per capita (PPP):
$12,500 (2017 est.)
$12,000 (2016 est.)
$11,600 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 122
Gross national saving:
15.6% of GDP (2017 est.)
15.9% of GDP (2016 est.)
16.3% of GDP (2015 est.)
country comparison to the world: 122
GDP - composition, by end use:
household consumption: 77.6%
government consumption: 10.9%
investment in fixed capital: 27%
investment in inventories: 0%
exports of goods and services: 29.7%
imports of goods and services: -45.2% (2017 est.)
GDP - composition, by sector of origin:
agriculture: 22.6%
industry: 23.8%
services: 53.7%
(2017 est.)
Agriculture - products:
wheat, corn, potatoes, vegetables, fruits, olives and olive oil, grapes; meat, dairy products; sheep and goats
Industries:
food; footwear, apparel and clothing; lumber, oil, cement, chemicals, mining, basic metals, hydropower
Industrial production growth rate:
3.5% (2017 est.)
country comparison to the world: 83
Labor force:
1.407 million (2017 est.)
country comparison to the world: 135
Labor force - by occupation:
agriculture: 41.8%
industry: 11.4%
services: 46.8% (2017 est.)
Unemployment rate:
14% (2017 est.)
15.2% (2016 est.)
note: these official rates may not include those working at near-subsistence farming
country comparison to the world: 170
Population below poverty line:
14.3% (2012 est.)
Household income or consumption by percentage share:
lowest 10%: 4.1%
highest 10%: 19.6% (2015 est.)
Distribution of family income - Gini index:
29 (2012 est.)
30 (2008 est.)
country comparison to the world: 136
Budget:
revenues: $3.486 billion
expenditures: $3.765 billion (2017 est.)
Taxes and other revenues:
26.8% of GDP (2017 est.)
country comparison to the world: 105
Budget surplus (+) or deficit (-):
-2.1% of GDP (2017 est.)
country comparison to the world: 88
Public debt:
71.3% of GDP (2017 est.)
72% of GDP (2016 est.)
country comparison to the world: 50
Fiscal year:
calendar year
Inflation rate (consumer prices):
2.1% (2017 est.)
1.3% (2016 est.)
country comparison to the world: 98
Central bank discount rate:
1.25% (31 December 2017 est.)
1.75% (31 December 2016 est.)
country comparison to the world: 125
Commercial bank prime lending rate:
7.2% (31 December 2017 est.)
9.65% (31 December 2016 est.)
country comparison to the world: 117
Stock of narrow money:
$3.979 billion (31 December 2017 est.)
$3.397 billion (31 December 2016 est.)
country comparison to the world: 112
Stock of broad money:
$6.665 billion (31 December 2017 est.)
$5.75 billion (31 December 2016 est.)
country comparison to the world: 122
Stock of domestic credit:
$8.147 billion (31 December 2017 est.)
$7.065 billion (31 December 2016 est.)
country comparison to the world: 114
Market value of publicly traded shares:
$NA
Current account balance:
$-1.201 billion (2017 est.)
$-899 million (2016 est.)
country comparison to the world: 139
Exports:
$960.9 million (2017 est.)
$789.1 million (2016 est.)
country comparison to the world: 159
Exports - commodities:
apparel and clothing, footwear; asphalt, metals and metallic ores, crude oil; cement and construction materials, vegetables, fruits, tobacco
Exports - partners:
Italy 50.5%, Serbia 8.1%, Kosovo 7.5%, Greece 4.2% (2016)
Imports:
$4.084 billion (2017 est.)
$3.671 billion (2016 est.)
country comparison to the world: 132
Imports - commodities:
machinery and equipment, foodstuffs, textiles, chemicals
Imports - partners:
Italy 29%, Germany 9.4%, China 8.7%, Greece 7.8%, Turkey 7.8%, Serbia 4.1% (2016)
Reserves of foreign exchange and gold:
$3.274 billion (31 December 2017 est.)
$3.109 billion (31 December 2016 est.)
country comparison to the world: 102
Debt - external:
$8.579 billion (31 December 2017 est.)
$8.421 billion (31 December 2016 est.)
country comparison to the world: 120
Stock of direct foreign investment - at home:
$6.056 billion (31 December 2016 est.)
$5.459 billion (31 December 2015 est.)
country comparison to the world: 102
Exchange rates:
leke (ALL) per US dollar -
121.9 (2017 est.)
124.14 (2016 est.)
124.14 (2015 est.)
125.96 (2014 est.)
105.48 (2013 est.)

Energy

Electricity access:
electrification - total population: 100% (2016)
Electricity - production:
7.135 billion kWh (2016 est.)
country comparison to the world: 113
Electricity - consumption:
7.094 billion kWh (2016 est.)
country comparison to the world: 110
Electricity - exports:
1.869 billion kWh (2016 est.)
country comparison to the world: 45
Electricity - imports:
1.827 billion kWh (2016 est.)
country comparison to the world: 56
Electricity - installed generating capacity:
1.897 million kW (2015 est.)
country comparison to the world: 115
Electricity - from fossil fuels:
5.2% of total installed capacity (2015 est.)
country comparison to the world: 205
Electricity - from nuclear fuels:
0% of total installed capacity (2015 est.)
country comparison to the world: 39
Electricity - from hydroelectric plants:
94.8% of total installed capacity (2015 est.)
country comparison to the world: 7
Electricity - from other renewable sources:
0.1% of total installed capacity (2015 est.)
country comparison to the world: 164
Crude oil - production:
22,750 bbl/day (2016 est.)
country comparison to the world: 66
Crude oil - exports:
19,100 bbl/day (2014 est.)
country comparison to the world: 52
Crude oil - imports:
1,000 bbl/day (2014 est.)
country comparison to the world: 79
Crude oil - proved reserves:
168.3 million bbl (1 January 2017 est.)
country comparison to the world: 61
Refined petroleum products - production:
290 bbl/day (2016 est.)
country comparison to the world: 108
Refined petroleum products - consumption:
27,000 bbl/day (2014 est.)
country comparison to the world: 125
Refined petroleum products - exports:
16,250 bbl/day (2016 est.)
country comparison to the world: 75
Refined petroleum products - imports:
13,250 bbl/day (2016 est.)
country comparison to the world: 135
Natural gas - production:
35 million cu m (2015 est.)
country comparison to the world: 87
Natural gas - consumption:
200 million cu m (2015 est.)
country comparison to the world: 110
Natural gas - exports:
0 cu m (2013 est.)
country comparison to the world: 60
Natural gas - imports:
0 cu m (2013 est.)
country comparison to the world: 83
Natural gas - proved reserves:
821.2 million cu m (1 January 2017 est.)
country comparison to the world: 106
Carbon dioxide emissions from consumption of energy:
4.3 million Mt (2013 est.)
country comparison to the world: 130

Communications

Telephones - fixed lines:
total subscriptions: 248,640
subscriptions per 100 inhabitants: 8 (July 2016 est.)
country comparison to the world: 122
Telephones - mobile cellular:
total: 3,369,756
subscriptions per 100 inhabitants: 111 (July 2016 est.)
country comparison to the world: 136
Telephone system:
general assessment: fixed line, teledensity continues to decline due to heavy use of mobile-cellular telephone services; mobile-cellular telephone use is widespread and generally effective; of 3.4 million active mobile telephone users, 1.3 million use mobile broadband services (3G/4G)
domestic: offsetting the shortage of fixed-line capacity, mobile-cellular phone service has been available since 1996; by 2015, four companies were providing mobile services and mobile teledensity had reached 110 per 100 persons; Internet broadband services initiated in 2005, and the penetration rate rose to over 65% by 2016; Internet cafes are popular in major urban areas
international: country code - 355; submarine cable provides connectivity to Italy, Croatia, and Greece; the Trans-Balkan Line, a combination submarine cable and land fiber-optic system, provides additional connectivity to Bulgaria, Macedonia, and Turkey; international traffic carried by fiber-optic cable and, when necessary, by microwave radio relay from the Tirana exchange to Italy and Greece (2016)
Broadcast media:
Albania has more than 65 TV stations, including several that broadcast nationally; Albanian TV broadcasts are also available to Albanian-speaking populations in neighboring countries; many viewers have access to Italian and Greek TV broadcasts via terrestrial reception; Albania's TV stations have begun a government-mandated conversion from analog to digital broadcast; the government has pledged to provide analog-to-digital converters to low-income families affected by this decision; cable TV service is available; 2 public radio networks and roughly 78 private radio stations; several international broadcasters are available (2017)
Internet country code:
.al
Internet users:
total: 2,016,516
percent of population: 66.4% (July 2016 est.)
country comparison to the world: 113

Transportation

National air transport system:
number of registered air carriers: 1
inventory of registered aircraft operated by air carriers: 1
annual passenger traffic on registered air carriers: 151,632
annual freight traffic on registered air carriers: 0 mt-km (2015)
Civil aircraft registration country code prefix:
ZA (2016)
Airports:
4 (2016)
country comparison to the world: 183
Airports - with paved runways:
total: 4
2,438 to 3,047 m: 3
1,524 to 2,437 m: 1 (2017)
Airports - with unpaved runways:
total: 1
914 to 1,523 m: 1 (2012)
Heliports:
1 (2013)
Pipelines:
gas 498 km (a majority of the network is in disrepair and parts of it are missing); oil 249 km (2015)
Railways:
total: 677 km (447 km of major railway lines and 230 km of secondary lines)
standard gauge: 677 km 1.435-m gauge (2015)
country comparison to the world: 104
Roadways:
total: 18,000 km
paved: 7,020 km
unpaved: 10,980 km (2002)
country comparison to the world: 116
Waterways:
41 km (on the Bojana River) (2011)
country comparison to the world: 103
Merchant marine:
total: 57
by type: bulk carrier 1, general cargo 49, other 7 (2017)
country comparison to the world: 108
Ports and terminals:
major seaport(s): Durres, Sarande, Shengjin, Vlore

Military & Security

Military expenditures:
1.22% of GDP (2017)
1.23% of GDP (2016)
1.16% of GDP (2015)
1.35% of GDP (2014)
1.41% of GDP (2013)
country comparison to the world: 94
Military branches:
Land Forces Command, Navy Force Command, Air Forces Command (2013)
Military service age and obligation:
19 is the legal minimum age for voluntary military service; 18 is the legal minimum age in case of general/partial compulsory mobilization (2012)

Transnational Issues

Disputes - international:
none
Refugees and internally displaced persons:
stateless persons: 4,921 (2016)
Illicit drugs:
active transshipment point for Southwest Asian opiates, hashish, and cannabis transiting the Balkan route and - to a lesser extent - cocaine from South America destined for Western Europe; significant source country for cannabis production; ethnic Albanian narcotrafficking organizations active and expanding in Europe; vulnerable to money laundering associated with regional trafficking in narcotics, arms, contraband, and illegal aliens

Economic Indicators for Albania including actual values, historical data, and latest data updates for the Albania economy.