Albania2021 Economic Complexity Trade : -0.19, Rank 72 of 131
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2021 Economic Complexity Research : -0.081, Rank 66 of 140
2021 Product Exports | Imports: $3.49B | $7.59B, 131 of 226 | 123 of 226
2021 Per Capita Product Exports | Imports: $1.24k | $2.7k, 117 of 219 | 109 of 219
Overview In 2021, Albania was the number 115 economy in the world in terms of GDP (current US$), 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.
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.
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.
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).
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).
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.
The highest complexity exports of Albania according to the product complexity index (PCI) are Knives and cutting blades, for machines or for mechanical appliances (1.46), Radar apparatus, radio navigational aid apparatus and radio remote control apparatus (1.01), Aluminium; containers for compressed or liquefied gas (0.98), Bodies; (including cabs) for the motor vehicles of heading no. 8701 to 8705 (0.87), and Base metal mountings, fittings and similar articles for furniture, doors, staircases, windows, trunks, chests etc, castors with mountings of base metal, automatic door closers of base metal (0.83). 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, 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.
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.
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.
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