21, Nov 2009, CST. 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: 2008 › Change year
Number of Indicators Listed: 19
Full Dataset: From Year 1980 to 2013
Date of Last Update: 1 Sept 2009
Population: 3,639,453 (July 2009 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
Government Type: Albania government type
Government Ministers: Albania ministers
Capital: Tirana (Tirane)
Data Sources: IMF, World Bank, UN, OECD, CIA World Factbook

The Albanian economy is making the difficult transition to a more modernopen or free-open or free market economy. growth of the economy has averaged around 5 per cent over the last five years and inflation rates have remained depressed. The government has taken measures to curb violent crime, but this is still a serious national problem, with life expectancy still depressed by European standards. Its large reform packages is aimed at reining in the large gray economy and attracting foreign direct investment. Its economy is boosted by annual remittance inflows from its foreign workers constituteing approximately 15 per cent of Gross Domestic Product (GDP), mostly from Albanians resident in Greece and Italy. Its trade (imports and exports) deficit is still massive, however. The agricultural, agrarian, fisheries and farming sector, which accounts for over 50% of labour employment but only 20% of Gross Domestic Product (GDP), is put a ceiling on mainly to subsistence farming and small family businesses because of lack of modern equipment, no legal framework, small plots of land and no modern farming infrastructure and facilities. Energy shortages because of a reliance on hydropower, and antiquated infrastructure and facilities contribute to Albania's poor business environment and lack of success in attracting new Foreign Direct Investment (FDI). The completion of a new thermal power plant near Vlore has aided diversify generation capability, and plans to improve transmission lines between Albania and Montenegro and Kosovo would aid relieve the energy shortages. Also, with aid from European Union (EU) investment, the state is taking steps to improve the poor national transportation (road and rail) network, a long term impediment to maintained growth of the economy.
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GDP (Constant Prices, National Currency) for Albania in year 2008 is ALL 594.419 Billion. Real GDP is expressed in billions of national currency units; the base year is country-specific.

GDP Growth (Constant Prices, National Currency) for Albania in year 2008 is 6.768 %. Annual percentages of constant price GDP are year-on-year changes; the base year is country-specific.

GDP (Current Prices, National Currency) for Albania in year 2008 is ALL 1,086.00 Billion. GDP is expressed in billions of national currency units.

GDP (Current Prices, US Dollars) for Albania in year 2008 is US$ 12.964 Billion. Values are based upon GDP in national currency and the exchange rate projections provided by country economists for the group of other emerging market and developing countries. Exchanges rates for advanced economies are established in the WEO assumptions for each WEO exercise.

GDP Deflator for Albania in year 2008 is 182.698 (Index, Base Year as per country's accounts = 100). The GDP deflator is derived by dividing current price GDP by constant price GDP and is considered to be an alternate measure of inflation. Please note: Data are expressed in the base year of each country's national accounts.

GDP Per Capita (Constant Prices, National Currency) for Albania in year 2008 is ALL 186,792.59 . GDP is expressed in constant national currency per person. Data are derived by dividing constant price GDP by total population.

GDP Per Capita (Current Prices, National Currency) for Albania in year 2008 is ALL 341,267.15 . GDP is expressed in current national currency per person. Data are derived by dividing current price GDP by total population.

GDP Per Capita (Current Prices, US Dollars) for Albania in year 2008 is US$ 4,073.86 . GDP is expressed in current U.S. dollars per person. Data are derived by first converting GDP in national currency to U.S. dollars and then dividing it by total population.

Output Gap, Percent of Potential GDP for Albania in year 2008 is not available

GDP (PPP), US Dollars for Albania in year 2008 is US$ 21.828 Billion. These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. Please note: The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables. For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurem

GDP Per Capita (PPP), US Dollars for Albania in year 2008 is US$ 6,859.46 . These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. Please note: The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables. For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurem

GDP Share of World Total (PPP) for Albania in year 2008 is 0.031 %. These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. Please note: The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables. For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurem

Implied PPP Conversion Rate for Albania in year 2008 is 49.751 . These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. Please note: The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables. For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurem

Investment (% of GDP) for Albania in year 2008 is not available

Gross National Savings (% of GDP) for Albania in year 2008 is not available

Inflation, Average Consumer Prices (Indexed to Year 2000) for Albania in year 2008 is 127.357 (Index, Base Year 2000 = 100). Data for inflation are averages for the year, not end-of-period data. The index is based on 2000=100.

Inflation (Average Consumer Price Change %) for Albania in year 2008 is 3.359 %. Data for inflation are averages for the year, not end-of-period data.

Inflation, End of Year (Indexed to Year 2000) for Albania in year 2008 is 122.396 (Index, Base Year 2000 = 100). Data for inflation are end of the period, not annual average data. The index is based on 2000=100.

Inflation (End of Year Change %) for Albania in year 2008 is 2.163 %. Data for inflation are end of the period, not annual average data.

Six-month London Interbank Offered Rate (LIBOR) Change % for Albania in year 2008 is not available

Unemployment Rate (% of Labour Force) for Albania in year 2008 is not available

Employment for Albania in year 2008 is not available

Population for Albania in year 2008 is 3.182 Million .

General Government Balance (National Currency) for Albania in year 2008 is not available

General Government Balance (% of GDP) for Albania in year 2008 is not available

General Government Structural Balance (National Currency) for Albania in year 2008 is not available

General Government Structural Balance (% Potential GDP) for Albania in year 2008 is not available

General Government Net Debt (National Currency) for Albania in year 2008 is not available

General Government Net Debt (% GDP) for Albania in year 2008 is not available

General Government Gross Debt (National Currency) for Albania in year 2008 is not available

General Government Gross Debt (% GDP) for Albania in year 2008 is not available

Current Account Balance (US Dollars) for Albania in year 2008 is US$ -1.752 Billion. Balance of payments data are based upon the methodology of the 5th edition of the International Monetary Fund's Balance of Payments Manual (1993). Data for the world total reflects errors, omissions, and asymmetries in balance of payments statistics on current account, as well as the exclusion of data for international organizations and a limited number of countries. Calculated as the sum of the balance of individual countries.

Current Account Balance (% GDP) for Albania in year 2008 is -13.511 %. Balance of payments data are based upon the methodology of the 5th edition of the International Monetary Fund's Balance of Payments Manual (1993). Data for the world total reflects errors, omissions, and asymmetries in balance of payments statistics on current account, as well as the exclusion of data for international organizations and a limited number of countries. Calculated as the sum of the balance of individual countries.