Gross Domestic Product (GDP)

GDP of Albania for Q3 2010 was recorded at ALL 241.8 billion as compared to ALL 248 billion in Q2 2010.

(Source: Institute of Statistics - Pdf)

GDP growth rate

 

(Source: Institute of Statistics - Pdf)

Gross Domestic Product per capita

The nation’s GDP per capita at current price for the year 2010 is USD 3616.097.

(Source: IMF)

Gross National Income (GNI) per capita, PPP

The nation’s Gross National Income (GNI) per capita at PPP is USD 8,300 for the year (2009), a decrease of 2.12% as compared to 2008.

 

(Source: World Bank)

Foreign Trade

Foreign Trade (ALL million)
	Exports	Imports	Trade Balance
2010	161,505	478,708	-317,203
2009	103,244	431,107	-327,863
2008	112,572	439,894	-327,322
2007	97,171	376,194	-279,023
2006	77,405	299,147	-221,742
2005	65,818	262,191	-196,373
2004	62,121	236,072	-173,951
2003	54,487	225,983	-171,496
2002	47,490	210,368	-162,877
2001	44,096	190,155	-146,059
2000	37,037	157,109	-120,072

(Source: Institute of Statistics – excel sheet)

Income Tax

Income tax on individual income in Albania is taxed at a flat rate of 10%.

(Source: taxrates.cc)

Corporate Tax

The corporate tax rate in Albania is a flat 10%.

(Source: taxrates.cc)

Inflation Rate

The inflation, in terms of consumer price change (annual %), for 2010 was registered at 3.4% as compared to 3.7% in 2009.

(Source: Institute of Statistics – excel sheet)

Foreign Direct Investment (FDI)

The FDI inflow in 2009 amounted to USD 979 million, a slight decrease from FDI inflow in 2008 of USD 988 million.

 (Source: UNCTAD)

Banking Sector Assets

As of November 2010, the total banking sector assets amounted to ALL 387,477.5 million compared to ALL 359,552.4 million in 2009.

    

Balance Sheet – Assets of Bank of Albania (ALL million)
	2010 (Jan - Nov)	2009	2008
Total assets	387,477.5	359,552.4	326,406.4
SDR holdings	8,337.3	7,546.1	641.8
Foreign currency	647.3	705.8	1 ,068.6
Deposits	35,855.4	54,391.6	64,087.6
Securities other than shares	301,028.7	243,142.8	218,119.8
Loans	18,124.3	3 3,885.2	2 4,318.6
Financial derivatives	6 9.4	1 0.7	-
Receivable accounts	11,394.6	1 3,279.2	1 2,891.3
Nonfinancial assets	12,020.8	6,590.9	5,278.7

(Source: Bank of Albania - Pdf)

Consumer Price Index (CPI)

In 2010, CPI of the country was recorded at 107.1 compared to 103.4 in 2009.This indicates that the increase in the prices of consumer goods has increased.

(Source: Institute of Statistics – excel sheet)

Product Price Index (PPI)

PPI of the country is on steady rise since 2001. In 2010, PPI was registered at 109.2 compared to 108.8 in 2009.

(Source: Institute of Statistics – excel sheet)

Interest rates

(Source: Bank of Albania - Pdf)

Money supply (Currency in Circulation)

The three measures of monetary aggregates are - M1, M2 and M3.

M1 includes Currency outside depository corporations and Current accounts and non-term deposits in national currency.

M2 includes M1 along with time deposits in national currency. 

M3 refers to M1 and deposits in foreign currency.

(Source: Bank of Albania - Pdf)

Official exchange rate

ALL per USD rate for the year 2009 was registered at 94.98. The exchange rate in November 2011 was 101.33 per USD.

(Source: Bank of Albania - Pdf)

Government finances

Total Revenue and Expenditure

In 2010, total revenues amounted to ALL 333,658 million, an increase of 11.6% over 2009. In the same period, government expenditure amounted to ALL 371,767 million, a decrease of 2.13% over 2009.

(Source: Ministry of Finance - Pdf)

Tax Revenue

In 2010, tax revenues contributed 89.64% to the total revenues amounting to ALL 299,084 million.

(Source: Ministry of Finance – Pdf)

Public Sector Borrowing Requirement / Fiscal Balance

In 2010, the Government reported a deficit of ALL 38,109 million while in 2009, the deficit amounted to ALL 80,883 million.

(Source: Ministry of Finance - Pdf)

Balance of Payments

(Source: Bank of Albania - Pdf)

Labour force data

Total labour force registered in Q4 2010 was 1,059,959 people; an increase of 0.07% over Q3 2010.

(Source: Institute of Statistics – excel sheet)

Sector Wise Employment

The agricultural private sector accounts for the maximum percentage of total employed people. The average number of people employed in the private agricultural sector for Q3 and Q4 2010 accounts to 506,664.

(Source: Institute of Statistics – excel sheet)

Unemployment Rate

In Q4 2010, the unemployment rate decreased to 13.49% with the average number of registered unemployed people at 143,040.

(Source: Institute of Statistics – excel sheet)

Minimum wage

Minimum wage limits prevailing in the country in the fourth quarter of 2010 is ALL 19,000 and has remained unchanged since the previous quarter. The minimum wage in the corresponding quarter of 2009 was ALL 18,000.

(Source: Institute of Statistics- excel sheet)

Level of Unionisation

The country has various independent trade unions. The two major trade union centres in the country are:

•  Union of the Independent Trade Unions of Albania
•  Confederation of the Trade Unions of Albania (KSSH)

(Source: icftu.org)

Albania has a Parliamentary Republic form of government. The power in the country is shared at three different levels – legislative, executive, and the judiciary. Legislative powers are exercised by the President and the Parliament. Executive powers are exercised by the government and the President. The judicial powers are free from legislative and executive powers and are executed by the courts of law.

Parliament: Assembly of the Republic of Albania

The country has a single chamber parliament with 140 members. The members of parliament are elected, by general elections, for a four year term.

The Parliament conducts its annual work in two sessions. The first session begins on the third Monday of January and the second session on the first Monday of September.

Government: Executive authority

The President of the Republic is the Head of State. The President is elected for five year term through a secret vote by the Assembly and by a majority of three-fifths of all its members.

Powers exercised by the President include:

• addresses the Assembly
• grants Albanian citizenship and permits it to be given up according to the law
• on the proposal of the Prime Minister, appoints and withdraws plenipotentiary representatives of the Republic of Albania to other states and international organisations
• accepts letters of credentials and the withdrawal of diplomatic representatives of other states and international organisations accredited to the Republic of Albania
• signs international agreements according to the law
• sets the date of the elections for the Assembly, for the organs of local power and for the conduct of referenda

Council of Ministers

The Council of Ministers consists of the Prime Minister, deputy prime minister, and ministers. The Council of Ministers exercises all functions that are not under the state or local government.

(Source: Albanian Constitution)

Regulatory Environment

The country’s economic freedom score is 64, making its economy the 70^th freest in the 2011 Index of Economic Freedom.

(Source: heritage.org)

Corruption Perception

Albania is ranked 87^th on the 2010 Corruption Perceptions Index (CPI). CPI measures the perceived level of public-sector corruption across 180 countries and territories around the world.

(Source: transparency.org)

Freedom of Information

Media in the country has the right of expression according to the constitution. However, media is not free from influence of political parties and government involvement. Journalists also face legal harassment in the country.

The country ranks 80^th on the world Press Freedom Index 2010 conducted by rsf.org.

In Albania, there are about 150 newspapers including 23 dailies. Political parties publish their own newspapers and magazines.

Newspapers

• Shekulli
• Gazeta Shqiptare
• Albanian Daily News
• Koha Ditore
• Korrieri
• Koha Jone

(Source: BBC, rsf.org)

Judicial System

Judicial system in the country is comprised of:

• High Council of Justice
• General Procurate
• Constitutional Court
• Supreme Court
• Appeal Court
• District Court

The Supreme Court is the highest court in the country and is also the final court of appeal. The Supreme Court is comprised of the Chief Justice and 13 other judges.

(Source: e-albania)

The total population of Albania for the year 2009 was recorded at 3.19 million, an increase of 0.4% over the previous year.

(Source: Institute of Statistics – excel sheet)

Gender representation in Albania is almost equal with males and females accounting for 50.1% and 49.9% respectively.

(Source: Institute of Statistics – excel sheet)

Population by age

In 2009, the population in the age group 5-24 years accounted for the highest share, followed by the age group 25-44 years.

(Source: Institute of Statistics – excel sheet)

As of 2008, the average life expectancy at birth for males and females was 72.9 years and 77.8 years respectively.

(Source: Institute of Statistics – excel sheet)

Birth rate and Death rate

Albania saw an increase in crude birth rate and crude death rate in 2008.

 (Source: Institute of Statistics – excel sheet)

Migration

As per United Nations’ estimates, the country had 89,106 international migrants in 2010; an increase of 7.8% over 2005.

(Source: UN)

Ethnic groups

The major ethnic group in the country is Albanian. Other ethnic groups include Greeks, Vlachs, Roma, Serbs, Montenegrins, Macedonians, Balkan Egyptians, and Bulgarians.

(Source: state.gov)

Human Development Index

Albania is ranked 64^th on the Human Development Index 2010 conducted by the United Nations. The HDI provides a composite measure of three dimensions of human development: living a long and healthy life (measured by life expectancy), being educated (measured by adult literacy and gross enrolment in education) and a basic standard of living (measured by purchasing power parity, PPP, income).

(Source: UNDP)

Education

The Ministry of Science and Education is responsible for education in the country.

Education in the country is divided into four levels

• Pre-school education
• Basic education
• General secondary education – secondary schools
• Higher education

Pre-School education is optional and is provided through Kindergartens and nursery schools before the age of six.

The duration for basic education is eight years, divided into two levels of four years each. Basic education consists of two levels: the lower level (grades I-IV) and the middle level (grades VI-IX).

Secondary education in the country consists of secondary schools (full-time and part-time) and secondary vocational schools.

The higher education system in Albania consists of eight universities, two academies and six non-public higher schools.

(Source: Ministry of Science and Education)

Literacy rate

In 2008, the adult literacy rate (% of people aged 15 and above) in Albania was 99%

(Source: World Bank)

Total Enrolled Students 

(Source: Institute of Statistics)

Healthcare

In 2008, total health expenditure was 6.9% of GDP.

(Source: World Health Organisation)

The mass public transport in the country is primarily roadways.  Railways are operated by Albanian Railways.

Roadways

The total length of the country’s road network is approximately 18,000 kilometres. This includes 3,636 kilometres of national roads and about 11,000 kilometres of district and municipal roads. The remaining roads are under the jurisdiction of various organisations including private firms.

(Source: mppt.gov.al)

Railways

The total length of railway lines in operation is about 399 kilometres.

(Source: Institute of Statistics)

 

(Source: Institute of Statistics – excel sheet)

Ports

The major ports in the country include Durres, Vlore, Sarande and Shengjin.

(Source: worldportsource.com)

Airports

Tirana International Airport is the major airport of the country. Other airports in the country include Gjader, Gjirokaster, Korce Northwest, and Kucova.

(Source: worldaerodata.com)

Telecommunications

The number of mobile subscribers has increased significantly in the past decade. In case of fixed line telephones, the total subscriber numbers have been fluctuating.

 

(Source: Institute of Statistics – excel sheet)

(Source: Institute of Statistics – excel sheet)

Internet access

As of June 2010, the country had 1.3 million internet users as compared to just 2,500 users in 2000. The internet penetration rate increased from 0.1% in 2000 to 43.5% in 2010.

(Source: internetworldstats.com)