Albania Oil production Albania Electricity production

Albania Economy

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 (purchasing power parity) : $18.05 billion note: albania has a large gray economy that may be as large as 50 percent of official gdp. (2005 est.)

Inflation rate: 2.5% (2005 est.)

Labor force : 1.09 million (not including 352.000 emigrant workers) (2004 est.)

Industries: food processing. textiles and clothing; lumber. oil. cement. chemicals. mining. basic metals. hydropower

Albania

			Over view
			Geography
			People
			Government
			Economy
			Communications
			Transportation
			Militry

Albania More Facts

Electricity - production: 5.68 billion kwh (2004)

Oil - production: 2.000 bbl/day (2004 est.)

Albania More Facts

Exports: $708.8 million f.o.b. (2005 est.)

Imports : $2.473 billion f.o.b. (2005 est.)
Currency (code) : lek (all)