Indicators of economy in Albania
The essential economic performance of a country is reflected by the gross domestic product, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,230 USD per capita. GDP in Albania, on the other hand, reached USD 6,493 per capita, or 18.26 billion USD for the whole country. Albania is one of the smaller economies and is currently ranked 121. If this is calculated per inhabitant, taking purchasing power parity into account, then Albania ranks 89th in the list of the richest countries.Inflation in Albania in 2021 was around 2.04%. Within the EU, the average in the same year was 2.55 percent. In the United States, it was most recently 4.70%.
Compared with the USA, prices for daily consumer goods are around 48.5 percent lower.
The index for perceived corruption in the public sector is 36, which is below average by global standards.
Back to overview: Albania
Impact of the COVID-19 pandemic
Overall, the gross domestic product in Albania in 2020 decreased moderatly from 15.40 billion US dollars to 15.13 billion US dollars. Certainly, there have been shifts in some sectors of the economy, but a drop of 1.8 percent 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 percent previously to 1.6 percent now.Unemployment rates in percentages 1991 - 2021
Economic performance 2021
Albania Total | Albania per capita | EU Total | EU per capita | |
---|---|---|---|---|
GDP | 18.26 bn USD | 6,492.87 USD | 17.177 tn USD | 33,384.92 USD |
Gross national product | 17.18 bn USD | 6,111.67 USD | 16.895 tn USD | 32,835.37 USD |
Development of gross domestic product in billions of USD 1984 - 2021
› Debt budget development
› Development of inflation
› Corruption in Albania
› Cost of living in a global comparison
› Development of inflation
› Corruption in Albania
› Cost of living in a global comparison
Imports and Exports 2021
Albania Total | Albania per capita | EU Total | EU per capita | |
---|---|---|---|---|
Imports | 8.00 bn USD | 2,846.66 USD | 8.916 tn USD | 17,329.02 USD |
Exports | 5.59 bn USD | 1,987.53 USD | 9.554 tn USD | 18,569.19 USD |
Development of imports and exports in millions of USD 1980 - 2021
Exports
Imports