| Economy - overview: | Lagging behind its Balkan neighbors, Albania is making the difficult transition to a more modern open-market economy. The government has taken measures to curb violent crime and to spur economic activity and trade. The economy is bolstered by annual remittances from abroad of $600-$800 million, mostly from Greece and Italy; this helps offset the towering trade deficit. Agriculture, which accounts for about one-quarter of GDP, is held back because of frequent drought and the need to modernize equipment, to clarify property rights, and to consolidate small plots of land. Energy shortages and antiquated and inadequate infrastructure contribute to Albania's poor business environment, which make it difficult to attract and sustain foreign investment. The planned construction of a new thermal power plant near Vlore and improved transmission and distribution facilities will help relieve the energy shortages. Also, the government is moving slowly to improve the poor national road and rail network, a long-standing barrier to sustained economic growth. On the positive side: growth was strong in 2003-05 and inflation is not a problem. |
| GDP - per capita | $4,900 (2005 est.) |
| GDP - real growth rate (%) | 6% (2005 est.) |
| Agriculture - products | wheat, corn, potatoes, vegetables, fruits, sugar beets, grapes; meat, dairy products |
| GDP - composition by sector (%) | agriculture: 23.6%, industry: 20.5%, services: 55.9% (2005 est.) |
| Industries | food processing, textiles and clothing; lumber, oil, cement, chemicals, mining, basic metals, hydropower |
| Economic aid - recipient | ODA: $315 million (top donors were Italy, EU, Germany) (2000 est.) |
| Debt - external | $1.41 billion (2003) |
| Population below poverty line (%) | 25% (2004 est.) |
| Labor force - by occupation (%) | agriculture 57%, non-agricultural private sector 20%, public sector 23% (2004 est.) |
Environment, Land use / Resources, Economy, Population / Demographics, Infrastructure, Health -- CIA World Factbook, 2005
