Albania country facts

Albanian – short facts

  • Albania is Southeastern Europe country bordering with Montenegro, Kosovo, Macedonia and Greece. It is also bordering on Adriatic Sea and Ionian Sea.
  • total area: 28,748 km2 (11,110 sq mi)
  • Population (2013): 3,011,405
  • Capital: Tirana
  • Monetary unit: LEK (ALL)
  • Languages: Albanian

Economic summary:

  • GDP/PPP (2012 est): $ 30 billion; per capita (2014) $11.400.
  • Real growth rate: 1.7%
  • Inflation (est.2012): 2.0%
  • Unemployment: 17%
  • Labor force (2013): 1,37 million
  • Major trading partners:Italy, Spain, Greece, Turkey, Germany

Economic environment

Albania had successful transition from planned type of the economy to free market capitalism. GDP in Albania is on level of around 30% of the European average. They also had problems with energy supply, but today they are exporters of it.

Albania has now status of an emerging market economy with more than 80% of GDP from private sector.

The average hourly labor costs of industrial workers as:

Average €1,47 per hour
The national minimum wage is currently 146 EUR per month.

If you have questions about different type of entities in Albania, do not hesitate to contact us.