Albania Economic Forecast

Albania Economic Outlook

November 28, 2017

The economy is on track to record its largest expansion in nearly a decade, led by healthy energy-related investment growth, buoyant economic activity in the EU and an improving domestic panorama. Leading data reinforces the upbeat picture, with tourist arrivals and exports both logging double-digit rates of growth in October. In the domestic sector, the unemployment rate fell to a five-year low in Q2, consumer sentiment trended higher in Q3 and the share of non-performing loans fell to a six-year low in September.

Albania Economic Growth

Economic growth should accelerate further next year, driven by stronger private consumption growth and a well-performing external sector. Conversely, fixed investment growth will moderate somewhat as two large energy investment projects conclude. The FocusEconomics panel expects the economy to grow 3.9% next year, which is unchanged from last month’s estimate. For 2019, the panel also sees growth of 3.9%.

Albania Economy Data

Population (million)
GDP per capita (USD)4,2324,3424,5843,9264,129
GDP per capita (EUR)3,3353,3413,4563,5243,717
GDP (USD bn)12.312.613.311.311.9
GDP (EUR bn)9.79.710.010.210.7
Economic Growth (GDP, annual variation in %)
Consumption (annual variation in %)
Investment (annual variation in %)-7.9-2.1-3.911.37.7
Unemployment Rate14.  
Fiscal Balance (% of GDP)0.00.0-  -4.1-1.8
Public Debt (% of GDP)
Inflation Rate (CPI, annual variation in %)
Policy Interest Rate (%)
Exchange Rate (vs USD)106.2102.2115.7126.1128.3
Current Account (% of GDP)-10.2-10.6-12.9-10.8-9.6
Current Account Balance (EUR bn)-1.0-1.3-  -  -  
Trade Balance (EUR billion)-2.3-1.9-2.1-2.1-2.4
Exports (EUR billion)
Imports (EUR billion)
Exports (annual variation in %)10.813.24.4-4.92.2
Imports (annual variation in %)-0.5-4.17.3-1.48.6
International Reserves (EUR)2.02.0-  -  -  

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Albania Facts

Exchange Rate113.4-0.56 %Dec 06
Stock Market0.10.0 %Dec 06

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