Flag Albania

Overview In 2021, Albania was the number 115 economy in the world in terms of GDP (current US$), the number 131 in total exports, the number 123 in total imports, the number 89 economy in terms of GDP per capita (current US$) and the number 72 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Albania are Footwear Parts ($272M), Leather Footwear ($254M), Electricity ($204M), Crude Petroleum ($204M), and Ferroalloys ($157M), exporting mostly to Italy ($1.42B), Greece ($441M), Spain ($211M), Germany ($174M), and China ($149M).

Imports The top imports of Albania are Refined Petroleum ($602M), Cars ($227M), Packaged Medicaments ($214M), Electricity ($203M), and Raw Iron Bars ($166M), importing mostly from Italy ($1.91B), Greece ($1.62B), Turkey ($790M), China ($586M), and Germany ($359M).

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

Flow
View
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.

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

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.

Historical Data

#permalink to section
Flow
Color
Depth

Top Export (2021): Footwear Parts, $272M

Top Destination (2021): Italy, $1.42B

In 2021, Albania exported a total of $3.49B, making it the number 131 exporter in the world. During the last five reported years the exports of Albania have changed by $1.12B from $2.37B in 2016 to $3.49B in 2021.

The most recent exports are led by Footwear Parts ($272M), Leather Footwear ($254M), Electricity ($204M), Crude Petroleum ($204M), and Ferroalloys ($157M). The most common destination for the exports of Albania are Italy ($1.42B), Greece ($441M), Spain ($211M), Germany ($174M), and China ($149M).

Explore Visualizations

Flow
View

Fastest Growing Export Markets (2020 - 2021)

Fastest Growing Import Markets (2020 - 2021)

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

#permalink to section

Most Specialized Products by RCA Index

#permalink to section

Albania has a high level of specialization in Footwear Parts (184), Chromium Ore (135), Perfume Plants (86.8), Marble, Travertine and Alabaster (38.5), and Cucumbers (34.8). Specialization is measured using RCA, an index that takes the ratio between Albania observed and expected exports in each product.

Export Opportunities by Relatedness

#permalink to section

The top export opportunities for Albania according to the relatedness index, were Crustaceans (0.25), Pepper (0.24), Tropical Fruits (0.24), Bedspreads (0.24), and Non-fillet Frozen Fish (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.

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

#permalink to section

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

#permalink to section
Filter
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.

Economic Complexity Ranking

#permalink to section
Scale

During the last 20 years Albania's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨nullth to the 72nd⁩ 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.

Explore Rankings