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Economy of Albania

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Economy of Albania

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FieldValue
countryAlbania
imageTirana Cityscape.jpg
image_size310px
captionTirana, the economic hub of Albania
currencyLek (ALL, L)
yearCalendar year
organsWTO, BSEC, CEFTA, Open Balkan
group{{plainlist
*Developing/Emerging<ref>{{cite weburlhttps://www.imf.org/external/pubs/ft/weo/2019/01/weodata/weoselco.aspx?g=2200&sg=All+countries+%2f+Emerging+market+and+developing+economiestitle=World Economic Outlook Database, April 2019publisher=International Monetary Fundwebsite=IMF.orgaccess-date=29 September 2019archive-date=10 October 2020archive-url=https://web.archive.org/web/20201010203013/https://www.imf.org/external/pubs/ft/weo/2019/01/weodata/weoselco.aspx?g=2200&sg=All+countries+%2F+Emerging+market+and+developing+economiesurl-status=live }}
*Upper-middle income economy<ref>{{cite weburlhttps://datahelpdesk.worldbank.org/knowledgebase/articles/906519-world-bank-country-and-lending-groupstitle=World Bank Country and Lending Groupspublisher=World Bankwebsite=datahelpdesk.worldbank.orgaccess-date=29 September 2019archive-date=28 October 2019archive-url=https://web.archive.org/web/20191028223324/https://datahelpdesk.worldbank.org/knowledgebase/articles/906519-world-bank-country-and-lending-groupsurl-status=live }}
population2,765,468
(2025)<ref name"Population of Albania"
gdp{{plainlist
* $32.41 billion (nominal; )<ref name"IMF DataMapper"
* $66.29 billion (PPP; )<ref name"IMF DataMapper"/
gdp rank{{plainlist
growth{{plainlist
* 3.9%&nbsp;(2023)<ref name"IMF DataMapper" /
* 4.0%&nbsp;(2024)<ref name"IMF DataMapper" /
* 3.8%&nbsp;()<ref name"IMF DataMapper" /
* 3.6%&nbsp;(2026)<ref name"IMF DataMapper" /
* 3.5%&nbsp;()<ref name"IMF DataMapper" /
per capita{{plainlist
* $12,150 (nominal; )<ref name"IMF DataMapper"/
* $24,840 (PPP; )<ref name"IMF DataMapper"/
per capita rank{{plainlist
cpi42 out of 100 points (2024) (80th)
sectors{{plainlist
*(2022)<ref name"CIAWFAL"}}
inflation1.9% (February 2025)
gini29.4 (2021)
hdi{{plainlist
*0.810 (2023, 71st)<ref name"UNHDR"
*0.705 (2023, IHDI 62nd)<ref>{{cite webtitleInequality-adjusted HDI (IHDI)url=http://hdr.undp.org/en/indicators/138806work=United Nations Development Programmeaccess-date=13 October 2022archive-date=25 June 2016archive-url=https://web.archive.org/web/20160625120421/http://hdr.undp.org/en/indicators/138806url-status=live }}}}
poverty{{plainlist
*22% in poverty (2020)<ref>{{cite weburlhttps://data.worldbank.org/indicator/SI.POV.NAHC?locations=ALtitle=Poverty headcount ratio at national poverty lines (% of population)publisher=World Bankwebsite=data.worldbank.orgaccess-date=18 February 2023}}
*14% on less than $6.85/day (2020)<ref>{{cite weburlhttps://data.worldbank.org/indicator/SI.POV.UMIC?locations=ALtitle=Poverty headcount ratio at $6.85 a day (2017 PPP) (% of population) - Albaniapublisher=World Bankwebsite=data.worldbank.orgaccess-date=18 February 2023archive-date=29 January 2023archive-url=https://web.archive.org/web/20230129202917/https://data.worldbank.org/indicator/SI.POV.UMIC?locations=ALurl-status=live }}
*46.6% at risk of poverty or social exclusion (AROPE, 2021)<ref>{{cite weburlhttps://ec.europa.eu/eurostat/databrowser/view/tepsr_lm410/default/table?lang=entitle=People at risk of poverty or social exclusion by sexpublisher=Eurostataccess-date=13 October 2023}}}}
labor{{plainlist
*1.376.643 (2023)<ref>{{cite weburlhttps://data.worldbank.org/indicator/SL.TLF.TOTL.IN?locations=AL&name_desc=falsetitle=Labor force, total - Albaniapublisher=World Bankwebsite=data.worldbank.orgaccess-date=11 January 2020archive-date=31 July 2020archive-url=https://web.archive.org/web/20200731152532/https://data.worldbank.org/indicator/SL.TLF.TOTL.IN?locations=AL&name_desc=falseurl-status=live }}
*75.5% employment rate (Q4 2024)<ref nameanketaq424}}
occupations{{plainlist
*(2024)<ref name"CIAWFAL"/}}
unemployment{{plainlist
*8.8% (Q4 2024)<ref nameanketaq424 /
*Youth (15-29) rate: 19.1% (Q4 2024)}}<ref nameanketaq424 /
average gross salaryALL 83.401/ €850/ $920 monthly (Q4 2024)
average net salary$850-1000$ per month
industriesfootwear, apparel and clothing; tourism, oil, cement, chemicals, mining, basic metals, Food and beverages, hydropower, auto parts
exports$4.35 billion (2024)
export-goodsapparel and clothing, footwear; asphalt, metals and metallic ores, crude oil; cement and construction materials, vegetables, fruits, tobacco, processed foods and beverages, hydropower, automotive parts
export-partners
* 1.9% (2023)<ref name"OECexport"
imports$8.76 billion (2023)
import-goodsmachinery and equipment, foodstuffs, textiles, chemicals
import-partners
* 1.8% (2023)<ref name"OECimport"
current account−$1.050 billion (2022)
FDI{{plainlist
*10.074 billion (2021)<ref name"CIAWFAL"/
gross external debt$8.5 billion (2023)
debt55.5% of GDP (2024)
revenue5.4 billion (2022)
expenses6.4 billion (2022)
balance−3% (of GDP) (2022)
credit{{plainlist
*BB (Stable)<ref>{{cite webtitleS&P Global Ratingsurl=https://disclosure.spglobal.com/ratings/en/regulatory/article/-/view/type/HTML/id/3341632website=disclosure.spglobal.comaccess-date=26 April 2025}}
*Ba3 (Stable)<ref>{{cite webtitleMoody's - credit ratings, research, and data for global capital marketsurl=https://www.moodys.com/research/Government-of-Albania-Ba3-stable-Regular-update-Credit-Opinion--PBC_1439806website=www.moodys.comaccess-date=26 April 2025}}
aidrecipient: ODA: $366 million (top donors were Italy, EU, Germany) (2003)
reserves$5.634.561 billion (2021)
  • Developing/Emerging
  • Upper-middle income economy
  • EU candidate}} (2025)
  • $32.41 billion (nominal; 2026)
  • $66.29 billion (PPP; 2026)
  • 113th (nominal; 2025)
  • 124th (PPP; 2025)
  • 3.9% (2023)
  • 4.0% (2024)
  • 3.8% (2025)
  • 3.6% (2026)
  • 3.5% (2027f)
  • $12,150 (nominal; 2026)
  • $24,840 (PPP; 2026)
  • 80th (nominal; 2025)
  • 80th (PPP; 2025)
  • agriculture: 18.62%
  • industry: 21.39%
  • services: 47.35%
  • (2022)}}
  • 0.810 (2023, 71st)
  • 0.705 (2023, IHDI 62nd)}}
  • 22% in poverty (2020)
  • 14% on less than $6.85/day (2020)
  • 46.6% at risk of poverty or social exclusion (AROPE, 2021)}}
  • 1.376.643 (2023)
  • 75.5% employment rate (Q4 2024)}}
  • agriculture: 21.4%
  • industry: 28.3%
  • services: 50.3%
  • (2024)}}
  • 8.8% (Q4 2024)
  • Youth (15-29) rate: 19.1% (Q4 2024)}} https://www.instat.gov.al/al/temat/tregu-i-pun%C3%ABs-dhe-arsimi/pagat/publikimet/2024/statistikat-e-pagave-t4-2024/ | export-goods = apparel and clothing, footwear; asphalt, metals and metallic ores, crude oil; cement and construction materials, vegetables, fruits, tobacco, processed foods and beverages, hydropower, automotive parts | export-partners =
  • EU 76.4%
    • Italy 40.6%
    • Greece 9.62%
    • Germany 5.5%
    • Spain 4.87%
    • Slovakia 1.86%
  • Serbia 4.42%
  • China 3.78%
  • North Macedonia 3.16%
  • Montenegro 1.94%
  • United States 1.9% (2023) | import-goods = machinery and equipment, foodstuffs, textiles, chemicals | import-partners =
  • EU 51.5%
    • Italy 21.7%
    • Germany 6.88%
    • Greece 6.45%
    • Poland 1.83%
    • Bulgaria 1.51%
  • China 11.1%
  • Turkey 9.35%
  • Serbia 4.35%
  • India 4.12%
  • United States 1.8% (2023)
  • 10.074 billion (2021)
  • Abroad: N/A}}
  • Standard & Poor's:
  • BB (Stable)
  • Moody's:
  • Ba3 (Stable)

The economy of Albania is a developing mixed economy. Since the early 2000s, the economy transitioned from a centralized to a mixed, free-market economic system. Its largest sectors are service (54.1%), agriculture (21.7%), and industrial (24.2%). The country has natural resources, and the economy is mainly bolstered by agriculture, food processing, lumber, oil, cement, chemicals, mining, basic metals, hydro power, tourism, textile industry, and petroleum extraction. The strongest industries are energy, mining, metallurgy, agriculture, and tourism. Primary industrial exports are clothing and chrome.

Albania has an emerging tourism sector. With over 6.4 million tourists visiting Albania in 2019, tourism generates revenue in excess of $2.4 billion annually.

History

GDP per capita development of Albania since 1913

Following the collapse of the communist regime in 1990, Albania experienced a mass exodus of refugees to Italy and Greece. The country attempted to transition to autarky, which eventually succeeded. Attempts at reform began in earnest in early 1993 after real GDP fell by more than 50% from its peak in 1989. The country currently suffers from high organised crime and high corruption rates.

The democratically elected government that assumed office in April 1992 launched an ambitious economic reform program to halt economic deterioration and put the country on the path toward a market economy. Key elements included price and exchange system liberalisation, fiscal consolidation, monetary restraint, and a firm income policy. These were complemented by a comprehensive package of structural reforms including privatisation, enterprise, and financial sector reform, and the creation of the legal framework for a market economy and private sector activity. Most agriculture, state housing, and small industry were privatised. This trend continued with the privatisation of transport, services, and small and medium-sized enterprises.

In 1995, the government began privatising large state enterprises. After reaching a low point in the early 1990s, the economy slowly expanded again, reaching its 1989 level by the end of the decade.

Challenges and solutions

Reforms in Albania are constrained by limited administrative capacity and low income levels, which make the population particularly vulnerable to unemployment, price fluctuation, and other variables that negatively affect income. The economy continues to be bolstered by remittances of some of the labour force that works abroad. These remittances supplement GDP and help offset the large foreign trade surplus. Most agricultural land was privatised in 1992, substantially improving peasant incomes. In 1998, Albania recovered the 0.8% drop in GDP of 1997 and pushed ahead by 79% in 1999. International aid has helped defray the high costs of receiving and returning refugees from the Kosovo conflict. Large-scale investment from outside is still hampered by poor infrastructure; lack of a fully functional banking system; untested or incompletely developed investment, tax, and contract laws; and an enduring mentality that discourages initiative.

Other recommendations

However, Forbes also indicated some progress: "with help from international donors, the government is taking steps to improve the poor national road and rail network, a long-standing barrier to sustained economic growth. Inward FDI has increased significantly in recent years as the government has embarked on an ambitious program to improve the business climate through fiscal and legislative reforms. The government is focused on the simplification of licensing requirements and tax codes, and it entered into a new arrangement with the IMF for additional financial and technical support."

The International Monetary Fund's January 24, 2017 report also offered some positive reinforcement: "Economic program remains on track, good progress in implementing structural reforms, Bank of Albania's accommodative monetary policy stance remains appropriate". The IMF inspectors who visited Tirana provided the following action plan: "Going forward, the main priorities should be: to continue expanding revenue to strengthen public finances and to ensure debt sustainability, reduce NPLs to strengthen financial stability and support credit recovery and advance structural reforms to improve the business climate. Important progress has been made in these areas, and further efforts are needed to cement these gains. In this regard, strengthening tax administration, broadening the tax base, and introducing a value-based property tax remain important objectives. Improved public financial management will help ensure more efficient public spending and control of arrears. Rapid implementation of the strategy for resolving non-performing loans is needed to strengthen lending to the private sector. Structural reforms to enhance the business environment, address infrastructure gaps, and improve labour skills will be crucial to strengthen competitiveness."

Application of Albania to the European Union

Main article: Accession of Albania to the European Union

Albania applied for membership in the European Union in 2009. It is expected such membership would benefit Albania's economy. The country received official candidate status in 2014, but was twice denied full membership. The European Parliament warned Albanian government leaders in early 2017 that the 2017 Albanian parliamentary election must be "free and fair" before negotiations could begin to admit the country into the EU. The MEPs also expressed concern about the country's "selective justice, corruption, the overall length of judicial proceedings and political interference in investigations and court cases" but the EU Press Release expressed some optimism: "It is important for Albania to maintain today's reform momentum and we must be ready to support it as much as possible in this process". In May 2019, European Commissioner Johannes Hahn recommended that the EU open membership talks with Albania.

Albania also needs to continue to improve its infrastructure, particularly highways within its borders and connecting the country to its neighbours. Once there is evidence of significant progress on this front, the country's chances of acceptance into the EU should improve. Discussions took place during 2015 to secure funding to do so.

By 2016, China became one of the major investors in Albania having purchased drilling rights to the oil fields of Patos-Marinzë and Kuçovë (from a Canadian company) and Tirana International Airport SHPK. China Everbright and Friedmann Pacific Asset Management will operate the airport until 2025. As of March 2016, China was the country's main trading partner, with 7.7% of the country's total international trade; that is far more than the trade with Greece and Turkey.

A 2018 analysis of six key categories indicated that Albania continues to experience infrastructure problems that present challenges to businesses and further economic opportunities.

Sectors

Primary sector

Main article: Agriculture in Albania, Albanian wine

During the communist regime, Albania's agriculture was heavily centralised integrated with agriculture-related industries, and state-run. Today, agriculture in Albania employs 47.8% of the population and about 24.31% of the land is used for agricultural purposes. Agriculture contributes to 18.9% of the country's GDP. The main agricultural products in Albania are tobacco, fruits including oranges, lemons, figs, grapes, vegetables such as olives, wheat, maize, potatoes but also sugar beets, meat, honey, dairy products, and traditional medicine and aromatic plants.

Albanian wine is characterised by its unique sweetness and indigenous varieties. It has one of Europe's longest histories of viticulture. Albania produced an estimated 17,500 tonnes of wine in 2009. During communism, the production area expanded to some 20000 ha. Today's Albania region was one of the few places where the vine was naturally grown during the ice age. The oldest found seeds in the region are 40,000 to 60,000 years old. Ancient Roman writer Pliny describes Illyrian wine as "very sweet or luscious" and refers to it as "taking the third rank among all the wines". Albanian families are traditionally known to grow grapes in their gardens for producing wine and Rakia.

Albania produced in 2018:

  • 391 thousand tons of maize;
  • 288 thousand tons of tomato;
  • 254 thousand tons of potato;
  • 240 thousand tons of wheat;
  • 239 thousand tons of watermelon;
  • 184 thousand tons of grape;
  • 120 thousand tons of cucumber;
  • 117 thousand tons of olive;
  • 108 thousand tons of apple;
  • 100 thousand tons of onion;
  • 81 thousand tons of bell pepper;

In addition to smaller productions of other agricultural products, like melon (41 thousand tons), plum (41 thousand tons), oat (34 thousand tons), sugar beet (27 thousand tons), fig (24 thousand tons), peach (19 thousand tons) and pear (13 thousand tons).

Tertiary sector

Main article: Tourism in Albania

Natural attractions form the backbone of Albania’s tourism industry. Lake Komani, located in northern Albania, is widely regarded as one of the most scenic ferry routes in Europe and is frequently compared to Scandinavian fjords due to its steep mountain slopes, narrow waterways, and dramatic landscapes. Coastal tourism is even more significant, with the majority of tourist activity concentrated along the Adriatic and Ionian Sea coastlines. The Ionian coast, commonly referred to as the Albanian Riviera, is especially valued for its crystal-clear waters, pristine beaches.

Albania’s coastline stretches approximately 360 kilometers and encompasses a diverse range of ecosystems, including sandy beaches, rocky coves, lagoons, capes, sheltered bays, gravel shores, and sea caves. Certain coastal areas are recognized for their high ecological quality and biodiversity, making them rare examples of relatively unpolluted seaside environments in the Mediterranean region. Beyond coastal attractions, Albania also offers rich cultural and historical tourism, with ancient cities, Ottoman-era architecture, UNESCO World Heritage Sites, and strong local traditions that appeal to cultural and heritage-focused travelers.

The expansion of tourism has been particularly dramatic in numerical terms. International arrivals increased from roughly 500,000 in 2005 to more than 4.2 million by 2012, representing growth of over 700% in just seven years. Several major Albanian cities, including Durrës, Vlorë, and Sarandë, are located along the Adriatic and Ionian coasts, reinforcing the importance of seaside tourism. Albania’s strategic geographic position as a gateway to the Balkan Peninsula, combined with major investments in road networks and airport connectivity, has improved access to neighboring countries and made the country reachable from most major European capitals within two to three hours by air.

This sector now represents 26.4% of Gross Domestic Product (GDP) up from 20.6% in 2019.

According to a 2015 report by the United States Agency for International Development (USAID), tourism’s direct contribution to Albania’s GDP reached approximately 4.8% in 2013, while its total contribution—including wider economic effects from investment, construction, and service industries—was estimated at around 17%. These figures were projected to rise further as Albania continued to prioritize tourism development. This trajectory was confirmed in 2023, when Albania recorded a historic high of around 10 million international visitors, clearly demonstrating the country’s strategic shift toward tourism as a central pillar of long-term economic growth and international visibility

Infrastructure

Transport

Main article: Transport in Albania

Transport has undergone significant changes in the past two decades, vastly modernising the infrastructure. Improvements to the road infrastructure, rail, urban, and airport transport have all led to a vast improvement in transportation. These upgrades have played a key role in supporting Albania's economy, which in the past decade has come to rely heavily on the construction industry.

Albania's motorway network has been extensively modernised throughout the 2000s and part of it is still under construction. There are a total of 3 major motorways in Albania: the A1, A2, and A3. When all corridors are completed, Albania will have an estimated 759 kilometers of highway linking it with all its neighbouring countries. The Tirana International Airport Nënë Tereza is the main port of entry for air travellers to the country. The airport is named after the Albanian Roman Catholic nun and missionary Mother Teresa. It has seen a dramatic rise in passenger numbers and aircraft movements since the early 1990s. Today, the Airport handles over 5.2 million passengers per year. In April 2021, Kukës Airport became operational in the north, serving first flights only to Istanbul and Zurich. In 2022, new destinations were announced, including Vienna, Basel/Mulhouse, and Memmingen. Furthermore, Albania plans to build two other airports in the south, which will mainly serve the tourism industry.

The busiest and largest seaport is the Port of Durrës. As of 2014, the port ranks as one of the largest passenger ports on the Adriatic and Ionian Sea, with an annual passenger volume of approximately 1.5 million. Other seaports include Vlorë, Sarandë, and Shëngjin. The ports serve an extensive system of ferries connecting numerous islands and coastal cities in addition to ferry lines to several cities in Croatia, Greece, and Italy.

The railways in Albania are administered by the national railway company Hekurudha Shqiptare (HSH). The railway system was extensively promoted by the totalitarian regime of Enver Hoxha, during which time the use of private transport was effectively prohibited. Since the collapse of the former regime, there has been a considerable increase in car ownership and bus usage. Whilst some of the country's roads are still in very poor condition, there have been other developments (such as the construction of a motorway between Tirana and Durrës) that have taken much traffic away from the railways.

Energy

Main article: List of power stations in Albania, Renewable energy in Albania

Albania is one of only two countries in the world (along with Paraguay) whose entire electricity production is dependent on hydroelectric power. In 2021 electricity consumed was 6,51 billion kWh with 5.31 billion kWh produced, the rest imported.

In December 2023, work commenced on a new 400 kV interconnector between Albania and North Macedonia, designed to enhance cross-border connectivity and better integrate Albania into the regional electricity network.

Hydroelectric power stations include the Fierza, Koman, and Vau i Dejës plants, as well as the planned Skavica dam, on the Drin river and Banjë and Moglicë plants on the Devoll river. The latter two were planned to increase electricity production in Albania by almost 17%.

In December 2023 a 140 MW solar park, covering 200 hectares of land at Karavasta, operated by Voltalia SA, began operations.

An auction in 2023 awarded 222.48 MW of onshore wind.

The Trans Adriatic Pipeline became operational in 2020. Its route through Albania is approximately 215 kilometers onshore and 37 km offshore in the Albanian section of the Adriatic Sea. It starts at Qendër Bilisht in the Korça region at the Albanian border with Greece, and arrives at the Adriatic coast 17 km north-west of Fier, 400 meters inland from the shoreline. A compressor station is near Fier, and an additional compressor is planned near Bilisht should the capacity be expanded to 20 billion cubic meters (bcm). Eight block valve stations and one landfall station were built along its route, as well as approximately 51 km of new access roads. There were also 42 bridges refurbished and three new bridges built. The construction of a US$1.2 billion AMBO pipeline was planned to begin in 2007 to ship crude oil between the port of Burgas in Bulgaria and the port of Vlora in Albania, but this project did not advance.

Albania has no nuclear power plants. In 2007 the government discussed constructing a nuclear power plant at Durrës. In addition to meeting the domestic energy demands, the plan foresaw electricity export to neighbouring Balkan countries and Italy via an underwater cable, which would link the Italian and Albanian electricity networks. In April 2009, Albania and Croatia announced a plan to jointly construct a 1,500 MWe nuclear power plant on the shores of Lake Skadar (Lake Shkodër), near Albania's border with Montenegro. As of 2016, Albania has no plans to build any nuclear power plants in the foreseeable future.

Oil

Main article: List of oil and gas fields in Albania

Albania has the second largest oil deposits in the Balkan peninsula and the largest onshore oil reserves in Europe. Its crude output amounted to more than 1.2 million tonnes in 2013, including 1.06 million by Canada's Bankers Petroleum, 87,063 tonnes from Canada's Stream Oil, and 37,406 tonnes by Albpetrol on its own. Three foreign firms produced the rest. Oil exploitation in Albania began in 1928, in Kuçova Oil field and was continuously increasing and one year later in Patos, in sandstone reservoirs. Oil production in Albania was increasing continuously. During the periods 1929–1944 and 1945–1963 the total production was only from the sandstone reservoirs, while after 1963, it was from the carbonate reservoirs. Up to 1963, the sandstones produced 400,974,649 tons of oil.

Albanian oil and gas represents the most promising albeit strictly regulated sectors of the economy. It has attracted foreign investors since the early 1990s marking the beginning of reforms that transformed the public exclusive rights, control, and responsibilities with regard to exploration and exploitation, to the private sector. Oil and gas reserves still remain the property of the Albanian State which enters into agreements and grants rights with regard to evaluation, exploration, production, refining/processing, and transport of the product. In March 2016, affiliates of China's Geo-Jade Petroleum purchased the drilling rights (from a Canadian company) for exploiting the oil fields of Patos-Marinze and Kucova. They paid €384.6 million, presumably indicating an interest in accelerating the process.

Statistics

Natural resources of Albania. Metals are in blue (Cr, Fe, Ni, Cu), fossil fuels are in red (L — lignite, P — petroleum, BI — bitumen).

Macroeconomic indicators

GDP (PPP): $40.822 billion (2021)

GDP per capita (PPP): $19,368 (2019)

country comparison to the world: 95

GDP – real growth rate: 8.52% (2021)

country comparison to the world: 34

Inflation: 2.04% (2021)

country comparison to the world: 155

Unemployment: 11.82 (2021)

country comparison to the world: 57

Agriculture

Products: milk, maize, tomatoes, potatoes, watermelons, wheat, grapes, cucumbers, onions, apples

Foreign trade

Top export destinations by dollar (2014): Italy ($10.15 billion), Spain ($1680 million), China ($1300 million), Turkey ($920.8 million) and India ($880.5 million).

Top import items 2014: Refined Petroleum ($547 million), Cars ($198 million), Packaged Medicaments ($129 million), Tanned Equine and Bovine Hides ($97.4 million) and Footwear Parts ($86.2 million).

Top import origins by dollar (2014): Italy ($100.38 billion), Greece ($41300 million), Turkey ($31500 million), China ($27800 million) and Germany ($23500 million).

Import partners: Italy 28%, Greece 12%, China 11%, Turkey 9%, Germany 5% (2019)

Remittances: $600 million (2014 est.)

Electricity – production by source:

  • hydro: 99.4% (2021)

Natural gas

  • production: 42.05 million m3 (2019 est.)
  • consumption: 42.05 million m3 (2019 est.)
  • exports: 0 cu m (2007 est.)
  • imports: 0 cu m (2007 est.)
  • proven reserves: 5.692 billion m3 (2012 est)

Exchange rates

  • Lekë per US dollar: 103.51 (2020), 125.4 (2017), 79.546 (2008), 92.668 (2007), 98.384 (2006), 102.649 (2005), 102.78 (2004), 121.863 (2003), 140.155 (2002), 143.485 (2001), 143.709 (2000), 137.691 (1999)

Notes

References

  • From 2003,
  • From 2007, International Monetary Fund

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