Basic Economic Indicators
Key Facts
Economic Situation
Albanian macroeconomic performance since the beginning of this decade has been strong. Growth has been rapid and the country is emerging from being a low-income country. Together with large remittances, rapid growth has significantly reduced poverty. Debt is declining and macroeconomic stability is being sustained.
ALBANIA - Comparative Macroeconomic performance 1996 – 2005
During this period, Albanian economic growth has been higher than that of other SEE countries. 1. Labour force defined as people in work plus registered unemployed (Albania in Figures 2006 – INSTAT. www.instat.gov.al). 2. IMF Country Report 06/286, July 2006. Fact Sheet No.2
Last updated: February 2007
Basic Economic Indicators
Real GDP change in countries of the region
Source: National Statistical Offices
Over the last few years, growth averaged at close to 6% and for 2005 the real GDP growth rate was 5.5%. Economic growth over this period was accompanied by ongoing consolidation of macroeconomic equilibrium, being evidenced in overall stable monetary indicators, low and stable inflation rates, and in the reduction of budget deficit and public debt. Inflation rates during the last three years have been anchored to the 2% - 4% target range. Over the last few years, Albania has experienced a dynamic sectoral development accompanied by redistribution of production factors and revenues. Two major components of GDI are the services and agriculture sectors while the construction sector plays an important role in the annual growth rate.
Sectoral Contribution to Annual Growth
GDP structure by sectors, 2005 (in %)
Source: Annual Report 2006, Bank of Albania
Fact Sheet No.2
Last updated: February 2007
Basic Economic Indicators
Basic economic indicators
Fact Sheet No.2
Last updated: February 2007
Basic Economic Indicators
Fact Sheet No.2
Last updated: February 2007