map Albania
Economic growth will accelerate to 3.5% this year, and a similar pace is expected over the medium term, owing to favourable external and domestic demand. A bumper tourist season has greased the wheels of the economy. Strong services exports and buoyant remittance inflows have pushed the current account deficit to unprecedentedly low levels, while FDI inflows have also performed strongly. Consumer prices will surge by a relatively modest 5%, but an inflation rate in double digits for staple foodstuffs is eating into the income of the most vulnerable groups.
Main Economic Indicators202020212022202320242025
Population, 1000 persons283828122778...
GDP, real change in %-
GDP per capita (EUR at PPP)92101030012080...
Gross industrial production, real change in %-6.326.22.8...
Unemployment rate - LFS, in %, average11.711.510.910.510.09.5
Average gross monthly wages, EUR434467520...
Consumer prices, % p.a.
Fiscal balance in % of GDP-6.7-4.6-3.7-2.2-1.5-1.0
Public debt in % of GDP74.374.564.5...
Current account in % of GDP-8.7-7.7-5.9-3.6-3.5-3.4
FDI inflow, EUR m93710321372...
Gross external debt in % of GDP64.264.454.3...

Basic data are continuously updated.

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


Executive summary

Branimir Jovanović
in: Beneath the Veneer of Calm
wiiw Forecast Report No. Autumn 2023, October 2023 , pp. I-VI


Monthly Report No. 7-8/2023

Vasily Astrov, Alexandra Bykova, Rumen Dobrinsky, Selena Duraković, Meryem Gökten, Richard Grieveson, Doris Hanzl-Weiss, Gabor Hunya, Branimir Jovanović, Niko Korpar, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Sandor Richter, Bernd Christoph Ströhm, Maryna Tverdostup, Nina Vujanović, Zuzana Zavarská and Adam Żurawski
wiiw Monthly Report No. 7-8, July-August 2023
51 pages including 3 Tables, 24 Figures and 1 Box