Republic of Albania
% Total Capital
- Geographical & Demographic Profile: Albania is bordered by Montenegro to the north, Kosovo to the northeast, Macedonia to the east and Greece to the south-east. It has a coast on the Adriatic Sea to the west and on the Ionian Sea to the southwest. Its population is 2.87 million (Jan 2018; InStat) with a land area of 28,748 km2. Albania is an EU candidate country and the Government has pledged to speed up political and administrative reforms for its integration in EU as the top economic and foreign policy priority.
- Structure of Economy & Income Level: Services constitute 47%, industry 21% and Agriculture 19% to the Albanian economy in 2017 (WDI). Apparel and construction materials are the leading exports while machinery, fuel and food are the major imports. Albania is an upper- middle income country with per capita income of US$4,583 for 2017 (IMF April 2018).
- Competitiveness & Credit Rating: Albania is the 75th most competitive country in the World Economic Forum's Global Competitiveness Report. Albania ranks 65th among 190 in the World Bank's Ease of Doing Business rankings. The sovereign credit of Albania has the following ratings: Standard and Poor's B+ and Moody's B1.
- Human Development: Continued growth in Albania has enabled enormous gains in poverty reduction, cutting the poverty rate from 25% in 2002 to 14% in 2012 in terms of national poverty line (The World Bank). The Gini Index is relatively low at 29 (2012; The World Bank). Albania is ranked 75th in UNDP Human Development Report (2016: http://hdr.undp.org/en/countries/profiles/ALB). Albania's life expectancy at birth has increased to 78.3 years in 2016. The under 5 mortality rate is 13.5 while the maternal mortality rate is 29 (WDI). Albania's mean years of schooling have increased to 10.0 in 2016 (UNDP).
H.E Erjon Luci
Vice Minister of Finance
H.E. the IsDB Alternate Governor