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 84 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.

Historical Data

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Yearly Exports

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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).

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Yearly Imports

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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).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

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).

Economic Complexity

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Most Specialized Products by RCA Index

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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.

Most Complex Products by PCI

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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.

Export Opportunities by Relatedness

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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.

Relatedness Space

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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.

Diversification Frontier

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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.

Economic Complexity Ranking

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During the last 11 years Albania's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨68th to the 84th⁩ 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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