Albania GDP: Top 5 Amazing Facts

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Albania GDP

Albania country overview

Before we start to discuss Albania GDP first we discuss Albania’s country overview, so Albania is officially called the Republic of Albania. It is located in Southeast Europe. Tirana is the capital and largest city of Albania.

Albania GDP
Albania GDP

Albania’s official language is Albanian. In religion, 59% Islam, 17% Christianity and other religions exist in Albania. Albania’s government system is the Unitary parliamentary constitutional republic.

Albania’s president’s name is Ilir Meta. Its prime minister’s name is Edi Rama. Albania’s total area is 28,748 km2. Its land area rank is 140th in the world. Its total population is 2,845,900 in the year 2020.

Albania’s total population density is 98/km2. Its population density rank is 63rd in the world. 

Albania Economy

Albania’s currency is called the Lek. Albania’s economy is a developed and emerging economy and an upper-middle-income economy.

The inflation rate in Albania is 2% in the year 2020. 14% of its population lives below the poverty line. Its HDI rate is 0.791 in the year 2019. Its HDI rate is considered the high HDI rate in the world.

Its HDI rank is 69th in the world. The unemployment rate in Albania is 12.5% in the year 2019. Albania’s gross external debt is $9.5 billion in the year 2017. Its total foreign reserves are $3.6 billion in the year 2017. 

Albania GDP

Its total GDP is $18 billion (nominal) and $40 billion (PPP) in the year 2021. Albania’s GDP rank is 119th (nominal) and 118th (PPP) in the year 2021.

Its GDP growth rate is 8.7% in the year 2021. Albania’s GDP per capita is $5,990 (nominal) and $15,200 (PPP) in the year 2021.

Its GDP per capita rank is 97th (nominal) and 93rd (PPP) in the year 2021. When we talk about its GDP by sector, so agriculture was 22%, industry 24%, and services 55% in the year 2017. 

Albania Exports

Its total exports are $2.3 billion in the year 2017. Its main export goods are clothing, metals, oils, fruits, food products, and others. Its main export partners are Italy, Spain, Greece, China, India, and others. 

Albania Imports

Albania’s total imports are $4.2 billion in the year 2017. Its main import goods are machinery, food products, chemicals, and others. Its main import partners are Italy, Greece, China, Turkey, and others.

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