Albania | Economic Forecasts | 2017-2020 Outlook

This page has economic forecasts for Albania including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Albania economy.


Overview Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 0.90 0.5 0.6 0.6 0.5 0.4 percent [+]
Unemployment Rate 14.60 14.2 14 13.8 13.6 11.5 percent [+]
Inflation Rate 2.00 1.9 2.2 2.4 2.2 3 percent [+]
Interest Rate 1.25 1.25 1.25 1.25 1.25 2 percent [+]
Balance of Trade -30597.70 -27853 -27519 -27524 -27524 -27524 ALL Million [+]
Government Debt to GDP 70.95 69.8 69.8 69.8 69.5 68.8 percent [+]
MARKETS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Currency 117.65 120 121 125 123 142 [+]
GDP Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 0.90 0.5 0.6 0.6 0.5 0.4 percent [+]
GDP Annual Growth Rate 4.00 3.8 3.6 3.4 3.3 2.2 percent [+]
GDP 11.40 11.72 11.49 11.96 11.07 14.55 USD Billion [+]
GDP Constant Prices 355919.40 358269 359500 360843 362008 369775 ALL Million [+]
Gross Fixed Capital Formation 134704.10 127863 109362 128675 110025 126549 ALL Million [+]
GDP per capita 4543.09 4620 4584 4660 4629 4970 USD [+]
GDP per capita PPP 11015.20 11049 11149 11250 11291 11691 USD [+]
GDP From Agriculture 64111.61 65187 65734 65752 66242 67395 ALL Million [+]
GDP From Construction 37396.24 37862 37701 37613 37613 37550 ALL Million [+]
GDP From Manufacturing 19175.93 18331 18294 18401 18652 19142 ALL Million [+]
GDP From Mining 44170.87 43423 43591 44135 43496 43605 ALL Million [+]
GDP From Public Administration 40430.84 41309 41536 41884 42172 46150 ALL Million [+]
GDP From Services 55306.72 54930 55143 54814 54963 54905 ALL Million [+]
LABOUR Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Unemployment Rate 14.60 14.2 14 13.8 13.6 11.5 percent [+]
Unemployed Persons 96.00 90.91 88.15 87.4 88.45 133 Thousand [+]
Employed Persons 1067.00 1067 1066 1067 1066 1066 Thousand [+]
Labor Force Participation Rate 65.90 65.77 65.15 64.74 64.38 63.81 percent [+]
Wages 56500.00 56400 56505 56667 57240 60667 ALL/Month [+]
Minimum Wages 22000.00 22072 22117 22150 22175 22546 ALL/Month [+]
Population 2.88 2.88 2.88 2.88 2.87 2.85 Million [+]
Retirement Age Women 60.00 60 60 60 60 60 [+]
Retirement Age Men 65.00 65 65 65 65 65 [+]
Youth Unemployment Rate 26.60 26.1 25.4 25.8 24.57 23.79 percent [+]
Employment Rate 56.20 55.96 55.49 55.22 55.33 55.31 percent [+]
PRICES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Inflation Rate 2.00 1.9 2.2 2.4 2.2 3 percent [+]
Inflation Rate Mom -1.20 -0.03 0.21 0 0.04 0.04 percent [+]
Consumer Price Index CPI 102.77 102 103 104 105 119 Index Points [+]
Producer Prices 102.30 102 103 104 106 116 Index Points [+]
Producer Prices Change 0.90 3.4 4.7 4.1 3.6 2.8 percent [+]
Food Inflation 3.21 3.3 3.64 3.74 3.73 3.73 percent [+]
Cpi Transportation 99.74 99.48 99.13 99.23 99.29 99.28 Index Points [+]
MONEY Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Interest Rate 1.25 1.25 1.25 1.25 1.25 2 percent [+]
Money Supply M0 377074.78 380370 378918 378657 378612 378603 ALL Million [+]
Money Supply M1 428229.17 432374 436143 439334 441855 450552 ALL Million [+]
Money Supply M2 723479.91 727257 730060 733652 737147 774671 ALL Million [+]
Money Supply M3 1246172.71 1243802 1240536 1236791 1235152 1229732 ALL Million [+]
Banks Balance Sheet 1445409.10 1451501 1460758 1469907 1478905 1568551 ALL Million [+]
Deposit Interest Rate 0.25 0.22 0.21 0.21 0.2 0.16 percent [+]
Lending Rate 2.25 2 1.98 1.97 1.97 1.96 percent [+]
Loans To Private Sector 338225.30 336179 332356 328827 325483 297609 ALL Million [+]
Central Bank Balance Sheet 502822.18 503630 500291 499775 499697 499683 ALL Million [+]
TRADE Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Balance of Trade -30597.70 -27853 -27519 -27524 -27524 -27524 ALL Million [+]
Exports 24220.90 22608 22720 22541 22585 22578 ALL Million [+]
Imports 54818.60 49991 48381 49678 49245 49396 ALL Million [+]
Current Account -179.35 -247 -186 -229 -197 -214 EUR Million [+]
Current Account to GDP -10.10 -8.2 -8.2 -8.2 -6.6 -4.2 percent [+]
Capital Flows -238.88 -266 -268 -212 -240 -234 EUR Million [+]
Gold Reserves 1.57 1.57 1.57 1.57 1.57 1.57 Tonnes [+]
Remittances 166.33 154 160 164 148 160 EUR Million [+]
Terrorism Index 1.10 0.69 0.46 0.23 0.15 0.92 [+]
Foreign Direct Investment 275.60 201 222 253 260 242 EUR Million [+]
Crude Oil Production 22.00 22.17 22.29 22.4 22.5 23.33 BBL/D/1K [+]
External Debt 7862.41 7935 7955 7988 8005 8167 EUR Million [+]
GOVERNMENT Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Government Debt to GDP 70.95 69.8 69.8 69.8 69.5 68.8 percent [+]
Government Budget -4.00 -4.25 -3.96 -3.67 -3.73 -3.87 percent of GDP [+]
Government Budget Value 6317.00 3643 635 1584 1905 1771 ALL Million [+]
Government Spending 46452.80 46065 43790 46018 43833 45838 ALL Million [+]
Government Revenues 176274.00 222485 221031 188648 201051 201120 ALL Million [+]
Government Debt 1037915.00 1031189 1050074 1049434 1062316 1103835 ALL Million [+]
Fiscal Expenditure 169957.00 225113 229142 191833 204454 205056 ALL Million [+]
Military Expenditure 141.80 134 138 142 141 135 USD Million [+]
BUSINESS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Business Confidence -0.10 -5.2 -4.5 -2.8 -1.88 -5 [+]
Industrial Production 13.40 7.57 3 -5.78 -12.78 -2.34 percent [+]
Changes in Inventories 192706.26 94502 123791 153081 152591 151020 ALL Million [+]
Mining Production 35.10 24.51 20.46 14.29 -3.66 6.22 percent [+]
Manufacturing Production -0.70 6.95 6.76 0.06 0.28 1.83 percent [+]
Competitiveness Index 4.06 4 4 4 4.11 4.12 Points [+]
Competitiveness Rank 80.00 80 80 80 74 81 [+]
Corruption Index 39.00 39 39 39 39 39 Points [+]
Corruption Rank 83.00 82 82 82 84 109 [+]
Ease of Doing Business 58.00 89 93 98 92 81 [+]
CONSUMER Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Consumer Confidence -10.40 -12.08 -12.5 -10.5 -11.11 -12 [+]
Retail Sales YoY 5.14 6.44 5.81 4.93 4.58 4.83 percent [+]
Consumer Spending 295668.50 295758 295801 295805 295795 295797 ALL Million [+]
Gasoline Prices 1.43 1.43 1.47 1.48 1.49 1.49 USD/Liter [+]
Consumer Credit 162165.90 162670 163483 164208 164856 168748 ALL Million [+]
HOUSING Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Construction Output 24.20 18.11 17.74 15.97 13.84 16.38 percent [+]
Building Permits 147.00 115 92.76 70.52 77.81 84.94 [+]
TAXES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Corporate Tax Rate 15.00 15 15 15 14.89 14.87 percent [+]
Personal Income Tax Rate 23.00 25.34 25.19 25.05 24.6 22.9 percent [+]
Sales Tax Rate 20.00 20 20 20 20 20 percent [+]
Social Security Rate 27.90 27.9 27.9 27.9 27.9 27.9 percent [+]
Social Security Rate For Companies 16.70 16.7 16.7 16.7 16.7 16.7 percent [+]
Social Security Rate For Employees 11.20 11.2 11.2 11.2 11.2 11.2 percent [+]