Intensive macroeconomic restructuring with the IMF and The World Bank is helping Albania grow towards being a more open economy.
The Albanian economy suffers from a trade deficit, albeit a declining one. In 2010, Albanian exports totaled $1.194 billion while imports totaled $3.602 billion – which decreased significantly from $4.898 billion in 2009 when exports remained at a similar figure of $1.345 billion.
Italy dominates both imports and exports, while Greece is its second two-way trading partner.
Albania exports textiles and footwear, asphalt, metals and metallic ores, crude oil, vegetables, fruits and tobacco.
Its primary export trading partners Italy are (55.9% of exports), Greece (11.6%), China (7.2%) Italy (27.6%), Greece (14.8%), Turkey (7.4%), China (6.8%), Germany (5.6%), Switzerland (5%) and Russia (4.2%).
Albania's primary imports include machinery and equipment, foodstuffs, textiles and chemicals.
It imports from Italy (32.2% of imports), Greece (13.1%), Turkey (7.2%), Germany (6.6%), China (4.5%), Russia (4.4%) Italy (27.6%), Greece (14.8%), Turkey (7.4%), China (6.8%), Germany (5.6%), Switzerland (5%), Russia (4.2%).