Albania Industry Sectors
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Albanian industry sectors have undergone many changes and diversification over the years.
Albania’s industry began with cement plants, food processing, flour milling, cigarette making and fellmongery as dominant industries in its economy.
Albania has since expanded into oil, chemical, mining, basic metal, textile, clothing, lumber and hydropower.
Albanian industry sectors have undergone many changes and diversification over the years.
Albania’s industry began with cement plants, food processing, flour milling, cigarette making and fellmongery as dominant industries in its economy.
Albania has since expanded into oil, chemical, mining, basic metal, textile, clothing, lumber and hydropower.
Albania Industry Sectors
Albania’s agriculture contributed 20.6 percent to the country’s GDP in 2010, services accounted for 60.6 percent and industries a mere 18.8 percent.
Albania has rich deposits of fossil fuels and precious metals that can turn its trade deficit around however, the country’s industry sector suffers from the unavailability of modern machinery.
According to latest 2009 estimates, Albania possesses:
Oil reserves: 199.1 million bbl
Natural gas reserves: 849.5 million cu m
2010 estimates expect Albania’s industrial production growth rate to decline by 4 percent however recent imports and investment in modern machinery is expected to help the economy grow. Its current and main industry sectors are:
- food processing
- textiles and clothing
- lumber, oil, mining, basic metals, hydropower
- cement and chemicals
Contributing to industrial production, Albania also produces agricultural products, such as corn, potatoes, wheat, sugar beets, vegetables, fruits and grapes; along with meat and dairy products. Much of this produce is exported to Albania’s two primary trade partners, Italy and Greece.
