Albania2019 Economic Complexity: -0.24, Rank 87 of 157
2019 Product Exports | Imports: $2.67B | $5.38B, 135 of 225 | 131 of 225
2019 Per Capita Product Exports | Imports: $935 | $1.89k, 126 of 219 | 120 of 219
2018 Service Exports | Imports : $3.07B | $2.28B, 53 of 88 | 57 of 88
Overview: In 2019 Albania was the number 122 economy in the world in terms of GDP (current US$), the number 135 in total exports, the number 131 in total imports, the number 103 economy in terms of GDP per capita (current US$) and the number 87 most complex economy according to the Economic Complexity Index (ECI).
Exports: The top exports of Albania are Leather Footwear ($352M), Footwear Parts ($230M), Crude Petroleum ($189M), Ferroalloys ($129M), and Non-Knit Men's Suits ($116M), exporting mostly to Italy ($1.21B), Spain ($216M), Germany ($161M), Greece ($143M), and France ($95.1M).
Imports: The top imports of Albania are Refined Petroleum ($453M), Cars ($182M), Packaged Medicaments ($158M), Tanned Equine and Bovine Hides ($99.5M), and Footwear Parts ($95M), importing mostly from Italy ($1.52B), Greece ($641M), China ($597M), Turkey ($487M), and Germany ($287M).
Location: Albania borders Greece, North Macedonia, Montenegro, and Serbia by land and Croatia and Italy by sea.
Top Export (2019): Leather Footwear, $352M
Top Destination (2019): Italy, $1.21B
In 2019, Albania exported a total of $2.67B, making it the number 135 exporter in the world. During the last five reported years the exports of Albania have changed by $313M from $2.36B in 2014 to $2.67B in 2019.
The most recent exports are led by Leather Footwear ($352M), Footwear Parts ($230M), Crude Petroleum ($189M), Ferroalloys ($129M), and Non-Knit Men's Suits ($116M). The most common destination for the exports of Albania are Italy ($1.21B), Spain ($216M), Germany ($161M), Greece ($143M), and France ($95.1M).
Top Import (2019): Refined Petroleum, $453M
Top Origin (2019): Italy, $1.52B
In 2019 Albania imported $5.38B, making it the number 131 trade destination in the world. During the last five reported years the imports of Albania changed by $802M from $4.58B in 2014 to $5.38B in 2019.
The most recent imports of Albania are led by Refined Petroleum ($453M), Cars ($182M), Packaged Medicaments ($158M), Tanned Equine and Bovine Hides ($99.5M), and Footwear Parts ($95M). The most common import partners for Albania are Italy ($1.52B), Greece ($641M), China ($597M), Turkey ($487M), and Germany ($287M).
Albania Exports Services (2018): $3.07B
Albania Imports Services (2018): $2.28B
In 2018, Albania exported $3.07B worth of services. The top services exported by Albania in 2018 were Personal travel ($1.83B), Miscellaneous business, professional, and technical services ($450M), Business travel ($352M), Sea transport ($126M), and Air transport ($102M).
The top services imported by Albania in 2018 were Personal travel ($1.29B), Business travel ($386M), Other transport ($109M), Other government services ($102M), and Sea transport ($98M).
During the last 20 years Albania's economy has become relatively más complex, moving from the 104th to the 87th 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.
Albania has a high level of specialization in Footwear Parts (184), Chromium Ore (147), Perfume Plants (83.6), Leather Footwear (43.5), and Ferroalloys (28.4). Specialization is measured using RCA, an index that takes the ratio between Albania observed and expected exports in each product.
The highest complexity exports of Albania according to the product complexity index (PCI) are Knives, cutting blades, for machines and appliances (1.5), Lifting, handling, loading machinery nes (1.12), Parts and accessories of bicycles, motorcycles, etc (1.05), Base metal fittings nes for furniture, doors, cars/etc (0.88), and Electric motors and generators, except generating sets (0.87). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Albania according to the relatedness index, are Crustaceans (0.24), Non-Knit Babies' Garments (0.23), Wheat Flours (0.23), Molasses (0.23), and Gold (0.23). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Albania is not specialized in.
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 it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a 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 emissions.
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