Albania

Country Summary

Introduction

Background

In the early 1990s, Albania ended decades of isolated communist rule and began to establish a multiparty democracy. A large informal economy and a weak energy and transportation infrastructure remain developmental obstacles. 

Geography

Area

total: 28,748 sq km
land: 27,398 sq km
water: 1,350 sq km

Climate

mild temperate; cool, cloudy, wet winters; hot, clear, dry summers; interior is cooler and wetter

Natural resources

petroleum, natural gas, coal, bauxite, chromite, copper, iron ore, nickel, salt, timber, hydropower, arable land

People and Society

Population

3,101,621 (2023 est.)

Ethnic groups

Albanian 82.6%, Greek 0.9%, other 1% (including Vlach, Romani, Macedonian, Montenegrin, and Egyptian), unspecified 15.5% (2011 est.)

Languages

Albanian 98.8% (official - derived from Tosk dialect), Greek 0.5%, other 0.6% (including Macedonian, Romani, Vlach, Turkish, Italian, and Serbo-Croatian), unspecified 0.1% (2011 est.)

Religions

Muslim 56.7%, Roman Catholic 10%, Orthodox 6.8%, atheist 2.5%, Bektashi (a Sufi order) 2.1%, other 5.7%, unspecified 16.2% (2011 est.)

Population growth rate

0.19% (2023 est.)

Government

Government type

parliamentary republic

Capital

name: Tirana (Tirane)

Executive branch

chief of state: President of the Republic Bajram BEGAJ (since 24 July 2022)
head of government: Prime Minister Edi RAMA (since 10 September 2013); Deputy Prime Minister Arben AHMETAJ (since 18 September 2021)

Legislative branch

description: unicameral Assembly or Kuvendi (140 seats; members directly elected in multi-seat constituencies by open party -list proportional representation vote using the D'Hondt method; members serve 4-year terms)

Economy

Economic overview

future hopeful EU member state; oil and gas exporter but investing toward a “blue economy”; COVID-19 and earthquake economic disruptions and declines; experiencing high debt and account balances; strengthening private sector growth and public sector trust

Real GDP (purchasing power parity)

$40.822 billion (2021 est.)
$37.619 billion (2020 est.)
$38.976 billion (2019 est.)

Real GDP per capita

$14,500 (2021 est.)
$13,300 (2020 est.)
$13,700 (2019 est.)

Agricultural products

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

Industries

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

Remittances

9.41% of GDP (2021 est.)
9.69% of GDP (2020 est.)
9.56% of GDP (2019 est.)

Exports

$5.612 billion (2021 est.)
$3.461 billion (2020 est.)
$4.822 billion (2019 est.)

Exports - partners

Italy 45%, Spain 8%, Germany 6%, Greece 5%, France 4%, China 4% (2019)

Exports - commodities

leather footwear and parts, electricity, crude petroleum, iron alloys, clothing, insulated wiring (2021)

Imports

$8.004 billion (2021 est.)
$5.671 billion (2020 est.)
$6.926 billion (2019 est.)

Imports - partners

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

Imports - commodities

refined petroleum, cars, tanned hides, packaged medical supplies, footwear parts (2019)

Exchange rates

leke (ALL) per US dollar -
Exchange rates:
103.52 (2021 est.)
108.65 (2020 est.)
109.851 (2019 est.)
107.989 (2018 est.)
119.1 (2017 est.)


Page last updated: Tuesday, September 26, 2023