Albania

map Albania
The economy grew by 4% in 2024, driven by robust domestic and external demand, particularly for export services. Foreign direct investment remained buoyant, and a high level of reinvestment of earnings indicates continued interest from foreign investors. The fiscal stance improved, while public debt fell to 55% of GDP, marking its lowest point since 2007. The inflation rate halved in 2024, but is unlikely to remain immune to the unfolding trade war. Tourism will continue to thrive, and consumption is expected to carry on supporting economic activity. The parliamentary elections scheduled for 11 May 2025 will mark a historic moment, as the diaspora will get the vote for the first time.
        FORECAST*
Main Economic Indicators202220232024202520262027
Population, 1000 persons277827452401...
GDP, real change in %4.83.94.03.73.94.0
GDP per capita (EUR at PPP)121901380016930...
Gross industrial production, real change in %2.7-8.4-7.6...
Unemployment rate - LFS, in %, average11.010.78.68.48.38.2
Average gross monthly wages, EUR520648769...
Consumer prices, % p.a.6.65.32.62.72.52.4
Fiscal balance in % of GDP-3.6-1.3-0.7-2.0-1.8-1.5
Public debt in % of GDP64.157.554.0...
Current account in % of GDP-5.9-1.2-2.4-2.6-2.7-2.7
FDI inflow, EUR m137114981584...
Gross external debt in % of GDP54.146.340.4...


Basic data are continuously updated.

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

publication_icon

Monthly Report No. 1/2025

Vasily Astrov, Alexandra Bykova, Selena Duraković, Meryem Gökten, Richard Grieveson, Maciej J. Grodzicki, Doris Hanzl-Weiss, Gabor Hunya, Branimir Jovanović, Niko Korpar, Dzmitry Kruk, Sebastian Leitner, Isilda Mara, Emilia Penkova-Pearson, Olga Pindyuk, Sandor Richter, Marko Sošić, Bernd Christoph Ströhm and Maryna Tverdostup
wiiw Monthly Report No. 1, January 2025
50 pages including 6 Tables and 13 Figures

Details

publication_icon

Executive summary

Olga Pindyuk
in: The Crisis is Over, but its Scarring Effects are Hindering Recovery
wiiw Forecast Report No. Spring 2024, April 2024 , pp. I-VII
Details


top