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Indicators of economy in Albania

The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2020 was at about 10.915 US Dollar per capita. In contrast, the GDP in Albania reached 5.246 US dollars per inhabitant, or 14.89 bn US Dollar in the whole country. Albania is one of the smaller economies and is currently ranked 126. If this is calculated per inhabitant taking into account the purchasing power parity, then Albania is in the list of the world's richest countries in place 91.

Inflation in Albania was in 2021 at around 2.04%. Within the EU, the average in the same year was 2.62%. In the United States, it was most recently 4.70%.

Compared with the USA, prices for daily consumer goods are around 47.4% lower.
The Corruption Perceptions Index for the public sector counts 67 and is compared to other countries moderate.


Back to overview: Albania

Impact of the Covid-19 pandemic in 2020

Overall, the gross domestic product in Albania in 2020 decreased moderatly from 15.40 billion US Dollar to 14.89 billion US Dollar. Certainly, there have been shifts in some sectors of the economy, but a minus of 3.3% is still comparatively good this year. Numerous countries suffered more substantial losses. The tourism sector alone slumped by around 49 percent. The unemployment rate rose from 11.5 to 13.3 percent. The consumer inflation rate has risen from 1.4% previously to 1.6% now.

Unemployment rates in percent 1991 - 2021

Economic performance 2020

 Albania
Total
Albania
per capita
EU
Total
EU
per capita
GDP14.89 bn USD5,246.29 USD15,291.93 tn USD29,692.11 USD
Gross national product14.78 bn USD5,209.80 USD15,330.84 tn USD29,767.66 USD


Development of the Gross domestic product in billion US Dollar 1984 - 2020



Im- and Exports 2020

 Albania
Total
Albania
per capita
EU
Total
EU
per capita
Imports5.67 bn USD1,998.52 USD7,340.01 bn USD14,251.98 USD
Exports3.46 bn USD1,219.56 USD7,939.04 bn USD15,415.11 USD


Development of imports and exports in million US dollars 1980 - 2020

Exports
Imports



Albania: AirportsLargest airports and airlines in AlbaniaThe biggest airports and Albanian in Albania with further information and data
Albania: Public HolidaysPublic holidays in Albania 2022-2026Statutory and inofficial holidays in Albania for 2022 to 2026
Pariah StatesList of the 11 current Pariah States11 countries, which suffer from the sanctions of the international community because of their mostly autocratic government.