Albania Economic Statistics and Indicators

31, Aug 2015, EDT. Welcome to the Albania economic statistics pages provided by the beta version of EconomyWatch.com's Econ Stats database.

Economic Indicators For: Albania › Change country
National or Regional Currency: Lek, ALL
Year of data: 2014 › Change year
Number of Indicators Listed: 36
Full Dataset: From Year 1980 to 2019
Date of Last Update: 17th March 2015
Population: 3,020,209 (July 2014 est.)
Area: total: 28,748 sq km ; land: 27,398 sq km ; water: 1,350 sq km
Natural Resources: petroleum, natural gas, coal, bauxite, chromite, copper, iron ore, nickel, salt, timber, hydropower
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

Albania, a formerly closed, centrally-planned state, is making the difficult transition to a more modern open-market economy. Albania managed to weather the first waves of the global financial crisis but, more recently, its negative effects have put some pressure on the Albanian economy. While the government is focused on establishing a favorable business climate through the simplification of licensing requirements and tax codes, it entered into a new arrangement with the IMF for additional financial and technical support. Remittances, a significant catalyst for economic growth declined from 12-15% of GDP before the 2008 financial crisis to 7% of GDP in 2012, mostly from Albanians residing in Greece and Italy. The agricultural sector, which accounts for almost half of employment but only about one-fifth 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, poor enforcement of contracts and property issues, and antiquated infrastructure contribute to Albania's poor business environment and makes attracting foreign investment more difficult. Inward FDI is among the lowest in the region, but the government has embarked on an ambitious program to improve the business climate through fiscal and legislative reforms. Albania’s energy supply has improved in recent years mostly due to upgraded transmission capacities that Albania has developed with its neighboring countries. However, technical and non-technical losses - including energy theft and non-payment - continue to be a threat to the financial viability of the entire system. Also, with help from international donors, the government is taking steps to improve the poor national road and rail network, a long-standing barrier to sustained economic growth. The country will continue to face challenges from increasing public debt, having exceeded its former statutory limit of 60% of GDP in 2013. Strong trade, remittance, and banking sector ties with Greece and Italy make Albania vulnerable to spillover effects of debt crises and weak growth in the euro zone.
More on the Albania Economy
More on the Albania Export, Import and Trade

Economic Indicator Listing
  For Albania in year 2014 Indicator Value
GDP Growth (Constant Prices, National Currency) 2.1 %
GDP (Current Prices, National Currency)ALL 1,396.12 Billion.
GDP (Current Prices, US Dollars)US$ 13.591 Billion
GDP Deflator 204.431 (Index, Base Year as per country's accounts = 100)
GDP Per Capita (Constant Prices, National Currency)ALL 246,217.87 .
GDP Per Capita (Current Prices, National Currency)ALL 503,345.31 .
GDP Per Capita (Current Prices, US Dollars)US$ 4,900.00
GDP (PPP), US DollarsUS$ 30.662 Billion
GDP Per Capita (PPP), US DollarsUS$ 11,054.73
GDP Share of World Total (PPP) 0.029 %
Implied PPP Conversion Rate 45.532
Investment (% of GDP) 24.918 %
Gross National Savings (% of GDP) 13.891 %
Inflation, Average Consumer Prices (Indexed to Year 2000) 117.298 (Index, Base Year 2000 = 100)
Inflation (Average Consumer Price Change %) 1.847 %
Inflation, End of Year (Indexed to Year 2000) 118.238 (Index, Base Year 2000 = 100)
Inflation (End of Year Change %) 1.788 %
Import Volume of All Items Including Goods and Services (Percent Change) 5.529 %
Import Volumes of Goods Only (Percent Change) 8.418 %
Export Volume of All Items Including Goods and Services (Percent Change) 10.289 %
Export Volumes of Goods Only (Percent Change) 11.95 %
Unemployment Rate (% of Labour Force) 14 %
Population 2.774 Million
General government revenue (National Currency)ALL 364.704 Billions.
General government revenue (% of GDP) 26.123 %
General government total expenditure (National Currency)ALL 458.505 Billions.
General government total expenditure (% of GDP) 32.841 %
Total Government Net Lending/ Borrowing (National Currency)ALL -93.801 Billions.
Total Government Net Lending/ Borrowing (% of GDP) -6.719 %
Fiscal Year Gross Domestic Product, Current PricesALL 1,396.12 Billions.
Current Account Balance (US Dollars)US$ -1.499 Billion
Current Account Balance (% GDP) -11.027 %
Economic Indicators for Albania 2014

GDP (Constant Prices, National Currency) for Albania in year 2014 is ALL 682.929 Billion.

GDP Growth (Constant Prices, National Currency) for Albania in year 2014 is 2.1 %.

GDP (Current Prices, National Currency) for Albania in year 2014 is ALL 1,396.12 Billion.

GDP (Current Prices, US Dollars) for Albania in year 2014 is US$ 13.591 Billion.

GDP Deflator for Albania in year 2014 is 204.431 (Index, Base Year as per country's accounts = 100).

GDP Per Capita (Constant Prices, National Currency) for Albania in year 2014 is ALL 246,217.87 .

GDP Per Capita (Current Prices, National Currency) for Albania in year 2014 is ALL 503,345.31 .

GDP Per Capita (Current Prices, US Dollars) for Albania in year 2014 is US$ 4,900.00 .

GDP (PPP), US Dollars for Albania in year 2014 is US$ 30.662 Billion.

GDP Per Capita (PPP), US Dollars for Albania in year 2014 is US$ 11,054.73 .

GDP Share of World Total (PPP) for Albania in year 2014 is 0.029 %.

Implied PPP Conversion Rate for Albania in year 2014 is 45.532 .

Investment (% of GDP) for Albania in year 2014 is 24.918 %.

Gross National Savings (% of GDP) for Albania in year 2014 is 13.891 %.

Inflation, Average Consumer Prices (Indexed to Year 2000) for Albania in year 2014 is 117.298 (Index, Base Year 2000 = 100).

Inflation (Average Consumer Price Change %) for Albania in year 2014 is 1.847 %.

Inflation, End of Year (Indexed to Year 2000) for Albania in year 2014 is 118.238 (Index, Base Year 2000 = 100).

Inflation (End of Year Change %) for Albania in year 2014 is 1.788 %.

Import Volume of All Items Including Goods and Services (Percent Change) for Albania in year 2014 is 5.529 %.

Import Volumes of Goods Only (Percent Change) for Albania in year 2014 is 8.418 %.

Export Volume of All Items Including Goods and Services (Percent Change) for Albania in year 2014 is 10.289 %.

Export Volumes of Goods Only (Percent Change) for Albania in year 2014 is 11.95 %.

Unemployment Rate (% of Labour Force) for Albania in year 2014 is 14 %.

Population for Albania in year 2014 is 2.774 Million .

General government revenue (National Currency) for Albania in year 2014 is ALL 364.704 Billions.

General government revenue (% of GDP) for Albania in year 2014 is 26.123 %.

General government total expenditure (National Currency) for Albania in year 2014 is ALL 458.505 Billions.

General government total expenditure (% of GDP) for Albania in year 2014 is 32.841 %.

Total Government Net Lending/ Borrowing (National Currency) for Albania in year 2014 is ALL -93.801 Billions.

Total Government Net Lending/ Borrowing (% of GDP) for Albania in year 2014 is -6.719 %.

Fiscal Year Gross Domestic Product, Current Prices for Albania in year 2014 is ALL 1,396.12 Billions.

Current Account Balance (US Dollars) for Albania in year 2014 is US$ -1.499 Billion.

Current Account Balance (% GDP) for Albania in year 2014 is -11.027 %.

* Source: IMF
Aggregate Indicators for Albania
Indicators
  Geography (Location, geographic coordinates, map references, area, terrain, elevation extremes, borders, coastline and maritime claims) for Albania
  Climate and Environment (climate, environmental issues, environmental agreements, natural hazards) for Albania
  Natural Resources, Agricultural Products, Land Use and Water Use for Albania
  Nationality, Ethnic Groups, Languages and Religions for Albania
  Telephone Statistics: Number of Fixed Lines, Mobile Phone Penetration Rate for Albania
  Age Structure, Median Age, Gender and Urbanization for Albania
  Population Growth Rate, Birth Rate, Death Rate, Net Migration Rate for Albania
  Life Expectancy Rate, Infant Mortality Rate and Total Fertility Rate for Albania
  HIV, AIDS and Other Major Infectious Disease Rates for Albania
  Literacy Rate, Educational Expenditure and School Life Expectancy for Albania
  Gross Domestic Product (PPP, Official Exchange Rate, Real Growth Rate and Per Capita) for Albania
  Industries and Industrial Growth Production Rate for Albania
  Labor Force by Occupation for Albania
  Poverty Line, Gini Index, Household Income and Consumption for Albania
  National Budget and Public Debt for Albania
  Bank Rates (Commercial Bank Prime Lending Rate, Central Bank Discount Rate) for Albania
  Stock of Money, Stock of Quasi Money, Stock of Domestic Credit for Albania
  Stock Market Capitalization: Market Value of Publicly Traded Shares for Albania
  Trade Statistics, Export Statistics, Export Partners and Products, Import Statistics, Import Partners and Products for Albania
  Foreign Exchange Reserves and Gold Reserves for Albania
  FDI Statistics (Foreign Direct Investment at Home/ Inbound FDI, Foreign Direct Investment Abroad/ Outbound FDI) for Albania
  Exchange Rate Statistics for Albania
  Electricity Production, Electricity Consumption, Electricity Exports and Electricity Imports for Albania
  Oil Production, Proven Oil Reserves, Oil Consumption, Oil Exports and Oil Imports for Albania
  Natural Gas Production, Proven Natural Gas Reserves, Natural Gas Consumption, Natural Gas Exports and Natural Gas Imports for Albania
  Television and Radio Statistics (TV Stats, Radio Stats) for Albania
  Internet Statistics (Internet Users, Internet Hosts, Country TLD) for Albania
  Airport Statistics (Paved Runway Airports, Unpaved Runway Airports, Heliports) for Albania
  Transport Statistics (Railways, Roadways, Waterways, Ports and Terminals, Airports, Merchant Marine) for Albania
  Military Statistics (Military Expenditure, Military Branches, Service Age and Obligation, Manpower Available and Fit for Military Service) for Albania
  Disputes, Refugees, Human Trafficking and Illicit Drug Production for Albania
* Source: CIA
Internet Indicators for Albania
Indicators
  Number of Internet Users for Albania
  Internet Penetration Rate for Albania
  Number of Facebook Accounts for Albania
  Facebook Penetration Rate for Albania
* Source: IWS
Economic Freedom Indicators for Albania
Indicators
  Economic Freedom World Rank for Albania
  Economic Freedom Regional Ranking for Albania
  Business Freedom for Albania
  Trade Freedom for Albania
  Fiscal Freedom for Albania
  Government Spending for Albania
  Monetary Freedom for Albania
  Investment Freedom for Albania
  Financial Freedom for Albania
  Property Rights for Albania
  Freedom from Corruption for Albania
  Labor Freedom for Albania
  Tariff Rate for Albania
  Income Tax Rate for Albania
  Corporate Tax Rate for Albania
  Tax Burden % of GDP for Albania
  Government Expenditure % of GDP for Albania
* Source: HFO
Corruption Perceptions Index Rank and Score for Albania
Indicator
  Corruption Perceptions Index Rank and Score for Albania
* Source: TIO
Albania Economic Indicators in other Years
  Albania Economic Indicators for Year 2019 (Forecast)
  Albania Economic Indicators for Year 2018 (Forecast)
  Albania Economic Indicators for Year 2017 (Forecast)
  Albania Economic Indicators for Year 2016 (Forecast)
  Albania Economic Indicators for Year 2015 (Forecast)
Albania Economic Indicators for Year 2014 (Current)
  Albania Economic Indicators for Year 2013
  Albania Economic Indicators for Year 2012
  Albania Economic Indicators for Year 2011
  Albania Economic Indicators for Year 2010
  Albania Economic Indicators for Year 2009
  Albania Economic Indicators for Year 2008
  Albania Economic Indicators for Year 2007
  Albania Economic Indicators for Year 2006
  Albania Economic Indicators for Year 2005
  Albania Economic Indicators for Year 2004
  Albania Economic Indicators for Year 2003
  Albania Economic Indicators for Year 2002
  Albania Economic Indicators for Year 2001
  Albania Economic Indicators for Year 2000
  Albania Economic Indicators for Year 1999
  Albania Economic Indicators for Year 1998
  Albania Economic Indicators for Year 1997
  Albania Economic Indicators for Year 1996
  Albania Economic Indicators for Year 1995
  Albania Economic Indicators for Year 1994
  Albania Economic Indicators for Year 1993
  Albania Economic Indicators for Year 1992
  Albania Economic Indicators for Year 1991
  Albania Economic Indicators for Year 1990
  Albania Economic Indicators for Year 1989
  Albania Economic Indicators for Year 1988
  Albania Economic Indicators for Year 1987
  Albania Economic Indicators for Year 1986
  Albania Economic Indicators for Year 1985
  Albania Economic Indicators for Year 1984
  Albania Economic Indicators for Year 1983
  Albania Economic Indicators for Year 1982
  Albania Economic Indicators for Year 1981
  Albania Economic Indicators for Year 1980


Data Sources: IMF, World Bank, UN, OECD, CIA World Factbook, Internet World Statistics, The Heritage Foundation and Transparency International