Flag Albania

Econ Complexity (2018): -0.52, Rank 90 of 137

Product Exports (2018): $2.66B, Rank 129 of 222

Exports Per Capita (2018): $929, Rank 87 of 219

Product Imports (2018): $5.07B, Rank 131 of 221

Imports Per Capita (2018): $1.77k, Rank 83 of 219

Service Exports (2018): $3.07B, Rank 53 of 88

Service Imports (2018): $2.28B, Rank 57 of 88

GDP (2018): $15.1B, CURRENT US$
Rank 122 of 196

GDP growth (2008 - 2018): 17.2%, CURRENT US$
Rank 132 of 196

GDP PC (2018): $5,269, CURRENT US$
Rank 108 of 196

GDP PC GROWTH (2008 - 2018): 20.6%, CURRENT US$
Rank 102 of 196

Overview: This page contains the latest international trade data for Albania, including service trade data. In 2018 Albania was the number 122 economy in the world in terms of GDP (current US$), the number 129 in total exports, the number 131 in total imports, and the number 90 most complex economy according to the Economic Complexity Index (ECI). In 2018, Albania exported $2.66B and imported $5.07B, resulting in a negative trade balance of -$2.4B. In 2018, Albania's exports per capita were $929 and its imports per capita were $1.77k.

Trade: The top exports of Albania are Leather Footwear ($358M), Footwear Parts ($229M), Crude Petroleum ($185M), Non-Knit Men's Suits ($123M), and Ferroalloys ($117M). The top imports of Albania are Refined Petroleum ($415M), Cars ($211M), Packaged Medicaments ($146M), Tanned Equine and Bovine Hides ($110M), and Footwear Parts ($100M).

Destinations: Albania exports mostly to Italy ($1.29B), Spain ($208M), Germany ($130M), Greece ($128M), and France ($94.2M), and imports mostly from Italy ($1.55B), Greece ($481M), China ($451M), Turkey ($395M), and Germany ($305M).

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

Yearly Exports

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Top Export (2018): Leather Footwear, $358M

Top Destination (2018): Italy, $1.29B

In 2018 Albania exported a total of $2.66B, making it the number 129 exporter in the world. During the last five reported years the exports of Albania have changed by -$67M from $2.73B in 2013 to $2.66B in 2018.

The most recent exports are led by Leather Footwear ($358M), Footwear Parts ($229M), Crude Petroleum ($185M), Non-Knit Men's Suits ($123M), and Ferroalloys ($117M). The most common destination for the exports of Albania are Italy ($1.29B), Spain ($208M), Germany ($130M), Greece ($128M), and France ($94.2M).

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Yearly Imports

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Top Import (2018): Refined Petroleum, $415M

Top Origin (2018): Italy, $1.55B

In 2018 Albania imported $5.07B, making it the number 131 trade destination in the world. During the last five reported years the imports of Albania changed by $49.2M from $5.02B in 2013 to $5.07B in 2018.

The most recent imports of Albania are led by Refined Petroleum ($415M), Cars ($211M), Packaged Medicaments ($146M), Tanned Equine and Bovine Hides ($110M), and Footwear Parts ($100M). The most common import partners for Albania are Italy ($1.55B), Greece ($481M), China ($451M), Turkey ($395M), and Germany ($305M).

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

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).

Trade Forecasts

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This section shows forecasts for total product exports and imports for Albania. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Economic Complexity

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Economic Complexity Ranking

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During the last 10 years Albania's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨68th to the 90th⁩ 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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Most Specialized Products by RCA Index

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Albania has a high level of specialization in Footwear Parts (185), Chromium Ore (113), Asphalt (72), Perfume Plants (60.3), and Leather Footwear (44.6). 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 (1.58), Base metal fittings nes for furniture, doors, cars/etc (1), Parts for electric motors and generators (0.87), Electric motors and generators, except generating sets (0.84), and Parts and accessories of bicycles, motorcycles, etc (0.83). 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 Women's Undergarments (0.23), Non-Knit Babies' Garments (0.23), Insect Resins (0.22), and Wood Charcoal (0.22). 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.

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.