Recovery will be slower than expected, as the pandemic is still weighing on economic activity. Domestic demand will support growth, but still at below pre-pandemic levels. External demand has improved somewhat, but will remain weak, as demand in the services and tourism sectors depends heavily on immunisation not only at home, but also in the EU countries. We expect the economy to grow by 4.5% over the medium term.

map Albania
Main Economic Indicators201820192020202120222023
Population, 1000 persons286628542800...
GDP, real change in %4.12.2-
GDP per capita (EUR at PPP)918095609440...
Gross industrial production, real change in %18.7-1.1-6.3...
Unemployment rate - LFS, in %, average12.311.511.711.411.211.0
Average gross monthly wages, EUR397426435...
Consumer prices, % p.a.
Fiscal balance in % of GDP-1.6-1.9-6.9...
Public debt in % of GDP67.766.376.1...
Current account in % of GDP-6.8-8.0-8.9-8.5-7.2-6.9
FDI inflow, EUR m10201072933...
Gross external debt in % of GDP65.260.465.8...

Basic data are continuously updated.

* Forecasts are changed beginning of April, July and November.
See Press Conferences.


ALBANIA: Moderate recovery and mass vaccination against COVID-19 started

Isilda Mara
in: Darkest before the dawn?
wiiw Forecast Report No. Spring 2021, April 2021 , pp. 42-46
Details and Buy


Monthly Report No. 5/2020

Vasily Astrov, Alexandra Bykova, Rumen Dobrinsky, Richard Grieveson, Doris Hanzl-Weiss, Gabor Hunya, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter, Bernd Christoph Ströhm and Hermine Vidovic
wiiw Monthly Report No. 5, May 2020
96 pages including 27 Tables and 39 Figures