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Main article: Albania
Key indicators
2019: Albania's economic growth slows
In 2019, economic growth Albania slowed, which is associated with a number of different factors: a poorly diversified economy, aging and immigration of the population, an informal economy that undermines government incomes, high poverty (per GDP capita is 30% of the average for), low-skilled To Europe labor. This is stated in a study conducted by analysts Coface on the main trends in the global economy.
Nevertheless, analysts predict Albania economic growth in 2020 (GDP growth by 3.4% against 3% in 2019) due to a decrease in unemployment, including among young people. This will ensure the growth of wages, while the estimated inflation will be 2.0%, and the budget balance - 1.8% of GDP. Although all industries are expected to grow in Albania, especially the services sector (which accounts for 40% of employment and 54% of GDP alongside tourism and construction), agriculture (1/5 of GDP for 42% of jobs) and hydropower (98% of electricity) are rainfall-dependent and poorly predictable, adding to growth uncertainty.
While the pace of foreign investment has slowed, it remains one of the main sources of funding in industries such as power, mining and tourism-related construction. The contribution of foreign trade to the growth of the Albanian economy in 2019 remained insignificant. This is due to a narrow production base (textiles, shoes, oil, ore, electricity, building materials), which forces the country to import capital and consumer goods. Exports may suffer from a slowdown in trade in Europe, while more moderate imports of industrial funds will be accompanied by a pronounced wave of imports of consumer goods.[1]
2018
The GDP per capita in Albania at the end of 2018 was $5,239. For comparison in Russia, this figure is $11,289.
2017
GDP
2021: Agriculture's share of GDP - 17.7%
Financial system
National debt
Key rate
Inflation
2022: July inflation - 7.5%
July
Import and Export
R&D
2020: R&D costs - $37M
Labour market
Unemployment
2020: Unemployment rate - 11.8%
Salaries
2023: Minimum wage - $265
2017: Average monthly salary
Sectors of the economy
Internet
2022: Albania goes offline after cyber attack
Albania's National Agency for the Information Society (AKSHI, NAIS) has been forced to shut down government online services and government websites following an ongoing cyber attack. This became known on July 18, 2022. Read more here.
Telecommunications
Tourism
2019: How much Albania is dependent on tourism:% of the industry in GDP
2018
Agriculture
2019: Low use of pesticides in agriculture
Energy carriers
2020: Energy consumption per capita
and
Consumption
Milk
2018: Milk consumption in litres per year per person
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Meat
2023: Poultry meat is the most consumed type of meat
2019: Beef is the most consumed type of meat
Beer
2019: Beer consumption in litres per year per person
Alcohol market
Minimum age to purchase alcoholic beverages
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