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 Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Growth Rate 1.34 0.5 0.9 1 0.7 0.4 percent
Unemployment Rate 12.90 13 12.7 12.5 12.3 11.5 percent
Inflation Rate 1.90 2.2 2.6 2.5 2.7 3 percent
Interest Rate 1.00 1 1 1.25 1.25 2 percent
Balance of Trade -24721.00 -39000 -28900 -33400 -27261 -38500 ALL Million
Government Debt to GDP 69.92 68.5 67.8 67.8 67.8 66.3 percent
MARKETS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Currency 109.61
110 110 111 112 115
GDP Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Growth Rate 1.34
percent
0.5 0.9 1 0.7 0.4
GDP Annual Growth Rate 4.32
percent
2.7 3.6 3.9 3.8 3.7
GDP 13.04
USD Billion
14 14.5 14.5 14.5 14.5
GDP Constant Prices 377940.00
ALL Million
378525 386369 392680 392302 407839
Gross Fixed Capital Formation 93772.00
ALL Million
121942 74433 97429 97335 131385
GDP per capita 4868.20
USD
4900 4960 4960 4960 4970
GDP per capita PPP 11803.40
USD
12200 12200 12200 12200 12700
GDP From Agriculture 66779.00
ALL Million
67517 68529 69383 69317 72746
GDP From Construction 35261.00
ALL Million
36303 36978 36636 36601 39115
GDP From Manufacturing 25525.00
ALL Million
25056 25436 26520 26495 26996
GDP From Mining 57686.00
ALL Million
48962 55190 59936 59878 52754
GDP From Public Administration 41384.00
ALL Million
43246 43013 42998 42957 46595
GDP From Services 59719.00
ALL Million
59209 60135 62048 61988 63794
LABOUR Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Unemployment Rate 12.90
percent
13 12.7 12.5 12.3 11.5
Employed Persons 1137.00
Thousand
1129 1130 1131 1133 1138
Unemployed Persons 78.00
Thousand
84 84 83 83 80
Labor Force Participation Rate 68.00
percent
67.51 67.18 66.82 66.48 65.11
Wages 60595.00
ALL/Month
61500 61800 63513 64059 64000
Minimum Wages 24000.00
ALL/Month
24000 25000 25147 25353 25000
Population 2.87
Million
2.87 2.87 2.87 2.87 2.86
Retirement Age Women 60.67
60.67 60.83 60.67 60.67 61
Retirement Age Men 65.00
65 65 65 65 65
Employment Rate 57.30
percent
56.81 56.11 56.01 56.2 56.18
Youth Unemployment Rate 22.60
percent
21.76 21.17 20.36 20.45 18.71
PRICES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Inflation Rate 1.90
percent
2.2 2.6 2.5 2.7 3
Inflation Rate Mom -0.20
percent
0.04 0.27 0.13 0.16 0.17
Consumer Price Index CPI 105.00
Index Points
106 109 107 108 113
Producer Prices 103.50
Index Points
109 105 106 107 116
Producer Prices Change 2.40
percent
2.9 1.3 2.7 2.5 2.8
Harmonised Consumer Prices 106.30
Index Points
107 111 109 109 114
Food Inflation 1.89
percent
3.3 3.4 3.4 3.5 4
Cpi Housing Utilities 105.00
Index Points
105 105 105 105 105
CPI Transportation 104.30
Index Points
103 104 105 106 110
MONEY Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Interest Rate 1.00
percent
1 1 1.25 1.25 2
Money Supply M0 413029.76
ALL Million
411021 410156 410103 410094 410091
Money Supply M1 469046.68
ALL Million
470746 469048 470745 469050 470736
Money Supply M2 722979.66
ALL Million
724630 726158 727830 729451 743655
Money Supply M3 1254291.70
ALL Million
1268616 1276309 1282479 1286429 1293657
Banks Balance Sheet 1460438.10
ALL Million
1470299 1475567 1480744 1485839 1528188
Deposit Interest Rate 0.10
percent
0.1 0.1 0.35 0.35 1.1
Lending Rate 1.90
percent
1.9 1.9 2.15 2.15 2.9
Loans To Private Sector 321618.40
ALL Million
314322 310834 307462 304225 280574
Central Bank Balance Sheet 516553.17
ALL Million
523279 522607 522379 522373 522384
TRADE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Balance of Trade -24721.00
ALL Million
-39000 -28900 -33400 -27261 -38500
Exports 26160.00
ALL Million
22500 26200 24600 25432 25500
Imports 50881.00
ALL Million
61500 55100 58000 52693 64000
Current Account -172.59
EUR Million
-201 -156 -191 -172 -180
Current Account to GDP -6.40
percent
-6.6 -7 -7 -7 -6.5
Capital Flows -264.52
EUR Million
-198 -242 -210 -223 -221
Gold Reserves 1.60
Tonnes
1.6 1.6 1.6 1.6 1.6
Foreign Direct Investment 212.00
EUR Million
249 244 253 232 244
External Debt 8111.40
EUR Million
8260 8391 8454 8531 9119
Crude Oil Production 14.00
BBL/D/1K
13.85 13.84 13.83 13.83 13.82
Terrorism Index 1.49
1.49 1.49 1.49 1.49 1.49
Tourist Arrivals 1242616.00
1136200 1135200 1135300 1135300 1135300
Remittances 181.71
EUR Million
173 157 179 173 173
GOVERNMENT Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Government Debt to GDP 69.92
percent
68.5 67.8 67.8 67.8 66.3
Government Budget -2.00
percent of GDP
-1.6 -1.2 -1.2 -1.2 -1
Government Budget Value 4084.00
ALL Million
-2190 -1627 64 -1213 -1002
Government Spending 39428.00
ALL Million
44682 38841 40966 40926 48142
Government Revenues 293799.00
ALL Million
195089 210528 223658 214691 216193
Government Debt 1042090.00
ALL Million
1035453 1038670 1039241 1041853 1045639
Fiscal Expenditure 289714.00
ALL Million
198199 212155 223595 215904 217195
Military Expenditure 151.55
USD Million
160 160 160 160 159
Government Spending To GDP 29.70
percent
29.7 29.7 29.7 29.7 29.7
BUSINESS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Business Confidence -1.60
Index Points
-2.5 -2.6 -2.8 -3.1 -5
Industrial Production 13.40
percent
15.05 13.89 10.97 10.63 11.82
Changes in Inventories 128787.00
ALL Million
135354 135233 135112 134990 134902
Internet Speed 6792.76
KBps
8292 8336 8486 8741 9890
IP Addresses 122132.00
IP
121883 124496 122244 123911 123121
Manufacturing Production 12.90
percent
9.47 7.55 6.74 9.01 8.65
Ease of Doing Business 63.00
69 66 64 63 65
Competitiveness Index 58.10
Points
58.6 58.6 58.6 58.6 61.1
Competitiveness Rank 76.00
76 76 76 76 76
Corruption Index 38.00
Points
38 38 38 38 38
Corruption Rank 91.00
91 91 91 91 91
Mining Production 14.70
percent
20.58 19.67 14.5 12.4 15.15
CONSUMER Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Consumer Confidence -13.10
Index Points
-10 -11.22 -11.5 -10.9 -12
Retail Sales YoY 1.50
percent
4.61 5.07 4.89 4.63 4.61
Consumer Spending 306718.27
ALL Million
272921 272301 318680 318374 294057
Gasoline Prices 1.63
USD/Liter
1.61 1.58 1.55 1.52 1.41
Economic Optimism Index 106.60
111 109 112 111 111
Bank Lending Rate 4.29
percent
4.29 4.29 4.54 4.54 5.29
Consumer Credit 173244.60
ALL Million
175913 177390 178750 180002 187627
HOUSING Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Construction Output -3.00
percent
3.52 4.16 5.03 2.55 3.46
Building Permits 270.00
250 340 330 280 350
TAXES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Corporate Tax Rate 15.00
percent
15 15 15 15 15
Personal Income Tax Rate 23.00
percent
23 23 23 23 23
Sales Tax Rate 20.00
percent
20 20 20 20 20
Social Security Rate 24.50
percent
24.5 24.5 24.5 24.5 24.5
Social Security Rate For Companies 15.00
percent
15 15 15 15 15
Social Security Rate For Employees 9.50
percent
9.5 9.5 9.5 9.5 9.5
CLIMATE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Precipitation 1.95
mm
124 94 81.56 81.56 86.11
Temperature 3.89
celsius
8.9 4.86 19.25 15.09 12.92



Albania - Economic Forecasts - 2018-2020 Outlook