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ECON FACTBOOK

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Economy of Albania

Population: 2.8 million in 20131

GDP: $12.9 billion in 20132

GDP per capita: $4,659 nominal3 ($10,489 PPP4) in 2013

GDP growth rate: 1.4% in 20135

Industries

GDP by Industry 20126

Industry sectorValue added ($ millions) 2012Percent of total
Other activities3,07126.7%
Wholesale, retail trade, restaurants and hotels2,50921.8%
Agriculture, hunting, forestry, fishing2,24619.5%
Construction1,23010.7%
Transport, storage and communication1,0789.4%
Manufacturing9258.0%
Mining and utilities4614.0%
Total value added11,520100%

Employment

Unemployment rate: 16.0% in 20137

Employment by Industry 20128

Employment sectorPercent of total
Agriculture55%
Services32%
Industry13%
Total100%

Corporations

Top 10 Corporations by Revenue 20139

N/A

Households

Household Wealth: $23 billion (178% of GDP) in 201410

Household Wealth per Adult: $10,309 in 201410

Gini Coefficient: .345 in 201311

Government

Central Government

Central Government Revenue: $3.1 billion (24% of GDP) in 201312

Central Government Expenditure: $3.9 billion (30% of GDP) in 201312

Central Government Budget Balance: -$0.8 billion (-6% of GDP) in 201312

Central Government Public Debt: N/A

Central Government 10 Year Bond Interest Rate: N/A

Government Funds

N/A

Tax Structure

Individual Income Tax Rates and Thresholds in 2013* 13

Corporate Tax Rate: 10% in 201414

* Individual thresholds calculated using the exchange rate 123 ALL = 1 USD

Monetary Policy

Money Supply (M1): $2.4 billion (19% of GDP) in 2013* 15

Benchmark Interest Rate: 2% in Feb 201516

Total Reserves: $2.8 billion (22% of GDP) in 201317

Exchange Rate: 123 Albanian Lek = 1 U.S. Dollar on Feb 17, 201518

Inflation: 1.9% in 201319

* Money supply calculated using the exchange rate 123 ALL = 1 USD

Financial Institutions

Top 10 Financial Institutions by Assets 201320

N/A (data not available at Relbanks.com)

International Accounts

Exports: $2.3 billion (18% of GDP) in 201321

Imports: $4.8 billion (37% of GDP) in 201321

Trade Balance: -$2.5 billion (-19% of GDP) in 201321

Foreign Direct Investment Inflow: $1.3 billion (10% of GDP) in 201322

Foreign Direct Investment Outflow: N/A

Foreign Aid Inflow: $342 million (3% of GDP) in 201223

Foreign Aid Outflow: N/A

References

1. Source: World Bank Indicators (Population) Go back
2. Source: World Bank Indicators (GDP) Go back
3. Source: World Bank Indicators (GDP per capita) Go back
4. Source: World Bank Indicators (GDP per capita PPP) Go back
5. Source: World Bank Indicators (GDP growth rate) Go back
6. Source: United Nations Statistics Division (GDP by industry) Go back
7. Source: World Bank Indicators (Unemployment rate) Go back
8. Source: CIA World Factbook (Employment by economic activity) Go back
9. Source: Annual reports (Corporate data) Go back
10. Source: Credit Suisse Global Wealth Databook (Household wealth) Go back
11. Source: UN Human Development Report (Gini coefficient) Go back
12. Source: CIA World Factbook (Government budget) Go back
13. Source: Ernst & Young, Worldwide Personal Tax Guide (Individual tax rates) Go back
14. Source: Tax Foundation (Corporate tax rate) Go back
15. Source: Bank of Albania, Statistical Report (Money supply) Go back
16. Source: Bank of Albania (Benchmark interest rate) Go back
17. Source: World Bank Indicators (Total reserves) Go back
18. Source: xe.com (Exchange rate) Go back
19. Source: World Bank Indicators (Inflation rate) Go back
20. Source: Relbanks.com (Financial institutions by assets) Go back
21. Source: CIA World Factbook (Trade data) Go back
22. Source: World Bank Indicators (FDI data) Go back
23. Source: World Bank Indicators (Aid data) Go back