Albania: Economy
|
Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
Upper Middle Income |
|
Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
In Transition |
| Economic Trivia | The agricultural sector accounts for almost half of employment and one-fifth of GDP. |
|
Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Top 3 Trade Partners (2020): Italy, Greece, and Serbia |
| Top Industries Source: CIA World Factbook | Perfumes and Cosmetic Products; Food and Tobacco Products; Textiles and Clothing; Lumber |
Gross Domestic Product (GDP) [1]
| GDP, PPP (current international) | $51,492,775,019 (2022) |
| GDP Growth Rate (annual %) | 4.844% (2022) |
| GDP Per Capita, PPP (current international) | $18,552 (2022) |
GDP Country Rank 118/197 (2022)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | 6.725% (2022) |
| External debt stocks, total (DOD, current US$) | $11,086,175,522 (2021) |
| Total tax rate (% of commercial profits) | 36.6% (2019) |
| Real Interest Rate (5 year average %) | -2.893% (2022) |
| Manufacturing, value added (% of GDP) | 6.549% (2022) |
| Current Account Balance (BoP, current US$) | ($1,134,674,724) (2022) |
Labor and Employment [1]
| Labor Force, Total | 1,381,652 (2022) |
| Employment in Agriculture (% of total employment) | 34.618% (2021) |
| Employment in Industry (% of total employment) | 21.563% (2021) |
| Employment in Services (% of total employment) | 43.819% (2021) |
| Unemployment Rate | 11.808% (2022) |
Trade [1]
| Imports of goods and services (current US$) | $9,033,549,157 (2022) |
| Exports of goods and services (current US$) | $7,073,881,662 (2022) |
| Total Merchandise Trade (% of GDP) | 67.302% (2022) |
| FDI, net inflows (BoP, current US$) | $1,441,381,891 (2022) |
| Commercial Service Exports (current US$) | $4,962,202,704 (2022) |
Economic Snapshot [1]
Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.
How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Albania’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.