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2022
Economic Complexity
Trade -0.24Rank 77 of 133
2022
Economic Complexity
Research -0.34Rank 72 of 135
2022
Product
Exports | Imports $4.3B | $6.89B131 of 226 |  133 of 226
2022
Per Capita Product
Exports | Imports $1.55k | $2.48k104 of 220 |  133 of 220

About

Overview In 2022, Albania was the number 120 economy in the world in terms of GDP (current US$), the number 131 in total exports, the number 133 in total imports, the number 94 economy in terms of GDP per capita (current US$) and the number 77 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Albania are Ferroalloys ($450M), Footwear Parts ($323M), Electricity ($287M), Crude Petroleum ($280M), and Leather Footwear ($267M), exporting mostly to Italy ($1.75B), Greece ($421M), Spain ($309M), Germany ($212M), and China ($164M).

Imports The top imports of Albania are Refined Petroleum ($331M), Electricity ($218M), Cars ($197M), Raw Iron Bars ($182M), and Packaged Medicaments ($178M), importing mostly from Italy ($1.74B), Turkey ($936M), Greece ($807M), China ($679M), and Germany ($341M).

Location Albania borders Greece, North Macedonia, Montenegro, and Serbia by land and Croatia and Italy by sea.

Latest Trends

Latest Trade

Flow
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Y-AXIS SCALE

The following section uses the most recent trade data from partners of Albania.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2022)Ferroalloys$450M
Top Destination (2022)Italy$1.75B

In 2022, Albania exported a total of $4.3B, making it the number 131 exporter in the world. During the last five reported years the exports of Albania have changed by $1.75B from $2.55B in 2017 to $4.3B in 2022.

The most recent exports are led by Ferroalloys ($450M), Footwear Parts ($323M), Electricity ($287M), Crude Petroleum ($280M), and Leather Footwear ($267M). The most common destination for the exports of Albania are Italy ($1.75B), Greece ($421M), Spain ($309M), Germany ($212M), and China ($164M).

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Exports (2022)
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Destinations (2022)
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Market Growth

Flow
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Growth
Fastest Growing Export Markets (2021 - 2022)
Italy$311M (+ 21.6%)
Greece$191M (+ 82.8%)
Spain$97.8M (+ 46.3%)
Fastest Growing Import Markets (2021 - 2022)
Turkey$159M (+ 20.5%)
China$86M (+ 14.5%)
Romania$67.3M (+ 87.8%)

Total Export Growth by Market (2021 - 2022)

Potential Exports

Potential Exports

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Service Trade

Service Trade

Albania Exports Services (2018)$3.86B
Albania Imports Services (2018)$3.22B

In 2018, Albania exported $3.86B worth of services. The top services exported by Albania in 2018 were Personal travel ($2.56B), Other business services ($630M), Transportation ($427M), Computer and information services ($113M), and Government services, n.i.e. ($65.2M).

The top services imported by Albania in 2018 were Personal travel ($1.8B), Business travel ($539M), Transportation ($352M), Government services, n.i.e. ($162M), and Other business services ($126M).

Service Exports (2018)

Service Imports (2018)

Economic Complexity

Overview

Economic Complexity (Trade)-0.24Rank 77 of 133
Economic Complexity (Research)-0.34Rank 72 of 135

Most Specialized Products by RCA Index

Albania has a high level of specialization in Chromium Ore (186), Footwear Parts (171), Perfume Plants (86), Cucumbers (47.1), and Ferroalloys (44). Specialization is measured using RCA, an index that takes the ratio between Albania observed and expected exports in each product.

Most Complex Products by PCI

The highest complexity exports of Albania according to the product complexity index (PCI) are Knives and cutting blades, for machines or for mechanical appliances (1.45), Radar apparatus, radio navigational aid apparatus and radio remote control apparatus (1.15), Padlocks and locks (key, combination, electrically operated) of base metal; clasps and... (0.83), Machinery n.e.c. in this chapter, for the industrial preparation or manufacture of... (0.82), and Electric motors and generators (excluding generating sets) (0.81). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Albania according to the relatedness index, were Pepper (0.25), Crustaceans (0.25), Insect Resins (0.24), Molasses (0.24), and Tropical Fruits (0.24). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Albania is not specialized in.

Product Space

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of Albania. These are products that tend to be co-exported with the products that Albania exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2022)

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Albania's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨nullth to the 77th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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ECI (Trade) Ranking by Country

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