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Albania

Republika e Shqiperise

Last updated: 2026-03-28 (today)

Budget

note

note: central government revenues (excluding grants) and expenditures converted to US dollars at average official exchange rate for year indicated

revenues

$6.636 billion (2023 est.)

expenditures

$6.966 billion (2023 est.)

Exports

note

note: balance of payments - exports of goods and services in current dollars

Exports 2022

$7.057 billion (2022 est.)

Exports 2023

$9.099 billion (2023 est.)

Exports 2024

$9.848 billion (2024 est.)

Imports

note

note: balance of payments - imports of goods and services in current dollars

Imports 2022

$9.016 billion (2022 est.)

Imports 2023

$10.374 billion (2023 est.)

Imports 2024

$11.697 billion (2024 est.)

Industries

food; footwear, apparel and clothing; lumber, oil, cement, chemicals, mining, basic metals, hydropower

Labor force

1.37 million (2024 est.)

note: number of people ages 15 or older who are employed or seeking work

Public debt

note

note: central government debt as a % of GDP

Public debt 2021

81.9% of GDP (2021 est.)

Remittances

note

note: personal transfers and compensation between resident and non-resident individuals/households/entities

Remittances 2022

9.2% of GDP (2022 est.)

Remittances 2023

8.6% of GDP (2023 est.)

Remittances 2024

8.4% of GDP (2024 est.)

Exchange rates

Currency

leke (ALL) per US dollar -

Exchange rates 2020

108.65 (2020 est.)

Exchange rates 2021

103.52 (2021 est.)

Exchange rates 2022

113.042 (2022 est.)

Exchange rates 2023

100.645 (2023 est.)

Exchange rates 2024

93.123 (2024 est.)

Debt - external

note

note: present value of external debt in current US dollars

Debt - external 2023

$5.363 billion (2023 est.)

Economic overview

upper-middle-income Balkan economy; EU accession candidate; growth bolstered by tourism, agriculture, mining, construction, and private consumption; fiscal consolidation through revenue collection and tax compliance enhancements to address public debt; challenges include weak governance, corruption, and high emigration rates

Unemployment rate

note

note: % of labor force seeking employment

Unemployment rate 2022

10.2% (2022 est.)

Unemployment rate 2023

10.2% (2023 est.)

Unemployment rate 2024

10.3% (2024 est.)

Exports - partners

Italy 41%, Greece 10%, Germany 5%, Spain 5%, Serbia 4% (2023)

note: top five export partners based on percentage share of exports

Imports - partners

Italy 22%, China 11%, Turkey 9%, Germany 7%, Greece 6% (2023)

note: top five import partners based on percentage share of imports

Real GDP per capita

note

note: data in 2021 dollars

Real GDP per capita 2022

$17,100 (2022 est.)

Real GDP per capita 2023

$18,000 (2023 est.)

Real GDP per capita 2024

$18,900 (2024 est.)

Real GDP growth rate

note

note: annual GDP % growth based on constant local currency

Real GDP growth rate 2022

4.8% (2022 est.)

Real GDP growth rate 2023

3.9% (2023 est.)

Real GDP growth rate 2024

4% (2024 est.)

Agricultural products

milk, maize, tomatoes, watermelons, potatoes, wheat, grapes, onions, cucumbers/gherkins, olives (2023)

note: top ten agricultural products based on tonnage

Exports - commodities

garments, footwear, electricity, crude petroleum, iron alloys (2023)

note: top five export commodities based on value in dollars

Imports - commodities

cars, refined petroleum, garments, packaged medicine, iron bars (2023)

note: top five import commodities based on value in dollars

Current account balance

note

note: balance of payments - net trade and primary/secondary income in current dollars

Current account balance 2022

-$1.117 billion (2022 est.)

Current account balance 2023

-$281.7 million (2023 est.)

Current account balance 2024

-$646.107 million (2024 est.)

Taxes and other revenues

17.8% (of GDP) (2023 est.)

note: central government tax revenue as a % of GDP

GDP (official exchange rate)

$27.178 billion (2024 est.)

note: data in current dollars at official exchange rate

GDP - composition, by end use

note

note: figures may not total 100% due to rounding or gaps in data collection

household consumption

70.2% (2023 est.)

government consumption

12% (2023 est.)

investment in inventories

-1.1% (2023 est.)

investment in fixed capital

24% (2023 est.)

exports of goods and services

38.7% (2023 est.)

imports of goods and services

-43.8% (2023 est.)

Population below poverty line

22% (2020 est.)

note: % of population with income below national poverty line

Inflation rate (consumer prices)

note

note: annual % change based on consumer prices

Inflation rate (consumer prices) 2022

6.7% (2022 est.)

Inflation rate (consumer prices) 2023

4.8% (2023 est.)

Inflation rate (consumer prices) 2024

2.2% (2024 est.)

Industrial production growth rate

-0.2% (2024 est.)

note: annual % change in industrial value added based on constant local currency

Real GDP (purchasing power parity)

note

note: data in 2021 dollars

Real GDP (purchasing power parity) 2022

$47.532 billion (2022 est.)

Real GDP (purchasing power parity) 2023

$49.403 billion (2023 est.)

Real GDP (purchasing power parity) 2024

$51.36 billion (2024 est.)

Youth unemployment rate (ages 15-24)

male

23.9% (2024 est.)

note

note: % of labor force ages 15-24 seeking employment

total

25.1% (2024 est.)

female

26.9% (2024 est.)

Reserves of foreign exchange and gold

note

note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars

Reserves of foreign exchange and gold 2022

$5.266 billion (2022 est.)

Reserves of foreign exchange and gold 2023

$6.455 billion (2023 est.)

Reserves of foreign exchange and gold 2024

$6.516 billion (2024 est.)

GDP - composition, by sector of origin

note

note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data

industry

22.4% (2024 est.)

services

48.9% (2024 est.)

agriculture

15.5% (2024 est.)

Household income or consumption by percentage share

note

note: % share of income accruing to lowest and highest 10% of population

lowest 10%

3.4% (2020 est.)

highest 10%

22.8% (2020 est.)

Gini Index coefficient - distribution of family income

note

note: index (0-100) of income distribution; higher values represent greater inequality

Gini Index coefficient - distribution of family income 2020

29.4 (2020 est.)