Browse a full set of economic indicators


Includes historical data for the Albania’s Gross Domestic Product growth, debt-to-GDP ratio and more, as well as information on trade, banking and financial sector leadership.

Economy Powered By Tourism, Minerals, Healthcare, and Technology

Once one of the poorest European countries, after the collapse of the communist regime in 1991, Albania gradually transformed itself into a modern open-market economy. Today, this country of less than 3 million is an upper middle-income nation with enormous potential in sectors including tourism, oil and mining, healthcare and information technology. Furthermore, the country benefits from its labor cost competitiveness, the geographical proximity to the Italian market and its official candidacy for EU membership.

Yet, Albania still grapples with significant challenges. Transparency International’s Corruption Perception Index underscores ongoing issues in the public sector and the judiciary, as well as concerns related to organized crime and the vast shadow economy. The emigration of young, skilled labor exacerbates labor shortages, hampering investment across sectors. Underdeveloped infrastructure, limited economic diversification, heavy reliance on remittances from workers abroad, and exposure to potential spillover effects from economic crises in the Eurozone are additional weaknesses.

Macroeconomy & Sovereign Data

Type of Government Parliamentary republic
Capital Tirana (Tirane)
Sovereign Ratings S&P: BB–
Moody’s: B1
Fitch: Not rated
Total Population 2.9 million
Median Age 38.2
Adult Per Capita Income (PPP) 19,968.12
Total GDP (2023) 25.4 billion

Albania GDP & Economic Overview

Most Recent Content

Banking & Finance

Trade & Investment

Total Exports USD 9.5 billion (2023)
Leading Exports Leather Footwear And Parts
Crude Petroleum
Iron Alloys
Insulated Wiring
Total Imports USD 4.4 billion (2022)
Leading Imports Refined Petroleum
Tanned Hides
Packaged Medical Supplies
Footwear Parts
Source: World Integrated Trade Solution

Albania Leading Companies

Banca Kombetare Tregtare Financials
Credins Bank Financials
One Albania Telecommunications Services
Balfin Group Financials, Real Estate, Multi-Sector Holdings
Albpetrol Oil, Gas & Consumable Fuels
Birra Tirana Consumer Staples, Brewers
Air Albania Airlines

Major Trade Partners — Import

Italy 24%
Türkiye 11%
China 8%
Greece 8%
Germany 7%

Source: World Integrated Trade Solution

Major Trade Partners — Export

Italy 42%
Serbia 11%
Spain 6%
Unspecified 6%
Greece 4%

Source: World Integrated Trade Solution

Data Sources:

IMF World Economic Outlook

UN World Population Prospects

World Inequality Report

S&P Global Ratings


Fitch Ratings

IMF Direction of Trade Statistics (DOTS)

UN Conference on Trade and Development (UNCTAD)

CIA The World Factbook

World Bank’s World Integrated Trade Solution

Forbes Global 2000