map Albania
The V-shaped recovery that we see suggests that the economy is back on track and will remain sound. GDP growth will accelerate to 6.4% in 2021 and will hover at above 4.5% in the medium term. The tourism sector has had an impressive year and is getting closer to its pre-pandemic level. Growth will be led by investment and by optimistic external and domestic demand, but downside risks stemming from the international markets and the pandemic call for vigilance.
Main Economic Indicators201820192020202120222023
Population, 1000 persons286628542838...
GDP, real change in %4.02.1-
GDP per capita (EUR at PPP)919096309290...
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, EUR397426434...
Consumer prices, % p.a.
Fiscal balance in % of GDP-1.6-1.9-6.8-3.0-1.5-1.0
Public debt in % of GDP67.765.875.7...
Current account in % of GDP-6.8-7.9-8.8-8.5-7.7-7.1
FDI inflow, EUR m10201072937...
Gross external debt in % of GDP65.160.065.6...

Basic data are continuously updated.

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


Executive summary

Vasily Astrov
in: Recovery Beating Expectations
wiiw Forecast Report No. Autumn 2021, October 2021 , pp. I-VI


Monthly Report No. 7-8/2021

Vasily Astrov, Alexandra Bykova, Rumen Dobrinsky, Selena Duraković, Richard Grieveson, Doris Hanzl-Weiss, Gabor Hunya, Branimir Jovanović, Niko Korpar, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter, Bernd Christoph Ströhm and Maryna Tverdostup
wiiw Monthly Report No. 7-8, July-August 2021
42 pages including 4 Tables and 15 Figures