A chronology of key events

Key facts, figures and dates

The Amateur Traveler talks to Francis Tapon from WanderLearn.com about Albania which has gone from a totally closed society 20 years ago to a destination that Lonely Planet ranked as the #1 destination for travel this year (that was before some of the recent protests. Francis says the because it was isolated for so long it created an exotic and unique culture. Abandoned bunkers still line the country from back when their fear of invasion had nothing to do with tourists. He recommends we start in the capital of Tirana and from there go to Krujë and its legendary Skanderbeg castle.

Hear about hiking the Peaks of the Balkans trail in Albania, Kosovo, and Montenegro as the Amateur Traveler talks to Dan and Audrey from uncorneredmarket.com about this off the beaten track route in Europe.

Hear about travel to Albania as the Amateur Traveler talks to Dina Rabiner about her visit to the country where she originally went as a Peace Corps volunteer.

Faced with a lack of employment opportunities and recurrent poverty, Albanian youth migrate to Italy alone in the hopes of improving their educational prospects or making money for their families. Yet upon arrival, they face many vulnerabilities. While some protections for unaccompanied minors exist in the Italy, the system is greatly fragmented and challenges, including how to return them to Albania, remain persistent.

From ongoing emigration flows and a surge in asylum seekers, to more than 150,000 returnees, this country profile examines contemporary and historical migration trends in Albania. Driven by extreme poverty and unemployment, more than one-third of Albania's population has emigrated in the last 25 years. The government now seeks to capitalize on diaspora resources by linking migration and development policies.

Saskia perseveres through language learning and connects with a young Albanian girl who becomes a follower of Jesus.

Saskia perseveres through language learning and connects with a young Albanian girl who becomes a follower of Jesus.

Saskia perseveres through language learning and connects with a young Albanian girl who becomes a follower of Jesus.

Saskia perseveres through language learning and connects with a young Albanian girl who becomes a follower of Jesus.

Saskia perseveres through language learning and connects with a young Albanian girl who becomes a follower of Jesus.

Saskia perseveres through language learning and connects with a young Albanian girl who becomes a follower of Jesus.

Saskia perseveres through language learning and connects with a young Albanian girl who becomes a follower of Jesus.

Saskia perseveres through language learning and connects with a young Albanian girl who becomes a follower of Jesus.

The United States is grateful to the Government of Albania for its willingness to support U.S. efforts to close the Guantanamo Bay detention facility.

Albania has become the 43rd country to sign the Convention on Mutual Administrative Assistance in Tax Matters.

Today, Albania signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (the Convention), becoming the 88th jurisdiction to join the Convention, which now covers almost 1,530 bilateral tax treaties.

The Global Forum and the Italian Revenue Agency carried out an onsite visit in Tirana to assist Albania with the implementation of the international standard of automatic exchange of financial account information (AEOI).

Exports to Albania in Spain increased to 4080.96 EUR THO in February from 3848.89 EUR THO in January of 2020. Exports to Albania in Spain averaged 7890.35 EUR THO from 2014 until 2020, reaching an all time high of 32390.84 EUR THO in August of 2018 and a record low of 2364.30 EUR THO in January of 2015. This page includes a chart with historical data for Spain Exports to Albania.

Consumer Confidence Price Trends in Albania increased to -9.26 in the fourth quarter of 2017 from -19.59 in the third quarter of 2017. Consumer Confidence Price Trends in Albania averaged 6.23 from 2005 until 2017, reaching an all time high of 34.83 in the third quarter of 2007 and a record low of -25.75 in the second quarter of 2017. This page includes a chart with historical data for Albania Consumer Confidence Price Trends.

Consumer Confidence Current Conditions in Albania decreased to -8.46 in the fourth quarter of 2017 from -5.82 in the third quarter of 2017. Consumer Confidence Current Conditions in Albania averaged -11.68 from 2003 until 2017, reaching an all time high of 12.68 in the second quarter of 2014 and a record low of -25.15 in the first quarter of 2004. This page includes a chart with historical data for Albania Consumer Confidence Current Conditions.

Consumer Confidence Savings Expectations in Albania decreased to -37.88 in the fourth quarter of 2017 from -35.07 in the third quarter of 2017. Consumer Confidence Savings Expectations in Albania averaged -42.75 from 2003 until 2017, reaching an all time high of -25.79 in the second quarter of 2015 and a record low of -57.85 in the fourth quarter of 2003. This page includes a chart with historical data for Albania Consumer Confidence Savings Expectations.

Consumer Confidence Unemployment Expectations in Albania increased to 2.49 in the fourth quarter of 2017 from -5.77 in the third quarter of 2017. Consumer Confidence Unemployment Expectations in Albania averaged 9.86 from 2003 until 2017, reaching an all time high of 27.19 in the fourth quarter of 2004 and a record low of -8.52 in the second quarter of 2017. This page includes a chart with historical data for Albania Consumer Confidence Unemployment Expectations.

The Personal Income Tax Rate in Albania stands at 23 percent. Personal Income Tax Rate in Albania averaged 18 percent from 2004 until 2018, reaching an all time high of 25 percent in 2005 and a record low of 10 percent in 2008. In Albania, the Personal Income Tax Rate is a tax collected from individuals and is imposed on different sources of income like labour, pensions, interest and dividends. The benchmark we use refers to the Top Marginal Tax Rate for individuals. Revenues from the Personal Income Tax Rate are an important source of income for the government of Albania. This page provides - Albania Personal Income Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Retirement Age Men in Albania remained unchanged at 65 in 2018 from 65 in 2017. Retirement Age Men in Albania averaged 60.87 from 1993 until 2018, reaching an all time high of 65 in 2013 and a record low of 55 in 1994. This page provides - Albania Retirement Age Men - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Retirement Age Women in Albania increased to 60.67 in 2018 from 60.50 in 2017. Retirement Age Women in Albania averaged 55.93 from 1993 until 2018, reaching an all time high of 60.67 in 2018 and a record low of 50 in 1994. This page provides - Albania Retirement Age Women - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Minimum Wages in Albania remained unchanged at 26000 ALL/Month in the fourth quarter of 2019 from 26000 ALL/Month in the third quarter of 2019. Minimum Wages in Albania averaged 14716.77 ALL/Month from 1993 until 2019, reaching an all time high of 26000 ALL/Month in the first quarter of 2019 and a record low of 1200 ALL/Month in the fourth quarter of 1993. This page provides - Albania Minimum Wages - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Albania recorded a Current Account deficit of 6.30 percent of the country's Gross Domestic Product in 2018. Current Account to GDP in Albania averaged -5.61 percent from 1980 until 2018, reaching an all time high of 2.24 percent in 1999 and a record low of -15.70 percent in 2008. The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes. This page provides - Albania Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Albania recorded a government debt equivalent to 63.63 percent of the country's Gross Domestic Product in 2018. Government Debt to GDP in Albania averaged 64.19 percent from 1997 until 2018, reaching an all time high of 84.60 percent in 1997 and a record low of 53.55 percent in 2007. Generally, Government debt as a percent of GDP is used by investors to measure a country ability to make future payments on its debt, thus affecting the country borrowing costs and government bond yields. This page provides - Albania Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Military Expenditure in Albania increased to 160 USD Million in 2018 from 144 USD Million in 2017. Military Expenditure in Albania averaged 144.14 USD Million from 1989 until 2018, reaching an all time high of 254 USD Million in 1990 and a record low of 66.30 USD Million in 1998.

The stocks of goods held by firms in Albania increased by 128787 ALL Million in 2016. Changes in Inventories in Albania averaged 15791.29 ALL Million from 1996 until 2016, reaching an all time high of 192706.26 ALL Million in 2015 and a record low of -38881.50 ALL Million in 2003. In Albania, changes in inventories are often a leading indicator for the overall performance of the economy. This page provides - Albania Changes in Inventories - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Social Security Rate in Albania stands at 24.50 percent. Social Security Rate in Albania averaged 26.93 percent from 2012 until 2018, reaching an all time high of 27.90 percent in 2013 and a record low of 24.50 percent in 2017. In Albania, the Social Security Rate is a tax related with labor income charged to both companies and employees. Revenues from the Social Security Rate are an important source of income for the government of Albania because they help to pay for many social programs including welfare, health care and many other benefits. This page provides - Albania Social Security Rate- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Social Security Rate For Companies in Albania stands at 15 percent. Social Security Rate For Companies in Albania averaged 16.24 percent from 2009 until 2019, reaching an all time high of 16.70 percent in 2010 and a record low of 15 percent in 2017. In Albania, the Social Security Rate is a tax related with labor income charged to both companies and employees. Revenues from the Social Security Rate are an important source of income for the government of Albania because they help to pay for many social programs including welfare, health care and many other benefits. This page provides - Albania Social Security Rate For Companies- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Social Security Rate For Employees in Albania stands at 9.50 percent. Social Security Rate For Employees in Albania averaged 10.74 percent from 2009 until 2019, reaching an all time high of 11.20 percent in 2010 and a record low of 9.50 percent in 2017. In Albania, the Social Security Rate is a tax related with labor income charged to both companies and employees. Revenues from the Social Security Rate are an important source of income for the government of Albania because they help to pay for many social programs including welfare, health care and many other benefits. This page provides - Albania Social Security Rate For Employees- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product per capita in Albania was last recorded at 5075.40 US dollars in 2018. The GDP per Capita in Albania is equivalent to 40 percent of the world's average. GDP per capita in Albania averaged 2758.08 USD from 1980 until 2018, reaching an all time high of 5075.40 USD in 2018 and a record low of 1243.60 USD in 1992. The GDP per capita is obtained by dividing the country’s gross domestic product, adjusted by inflation, by the total population. This page provides the latest reported value for - Albania GDP per capita - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The Gross Domestic Product per capita in Albania was last recorded at 12306.30 US dollars in 2018, when adjusted by purchasing power parity (PPP). The GDP per Capita, in Albania, when adjusted by Purchasing Power Parity is equivalent to 69 percent of the world's average. GDP per capita PPP in Albania averaged 7301.03 USD from 1990 until 2018, reaching an all time high of 12306.30 USD in 2018 and a record low of 3015.40 USD in 1992. The GDP per capita PPP is obtained by dividing the country’s gross domestic product, adjusted by purchasing power parity, by the total population. This page provides - Albania GDP per capita PPP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Albania scored 57.61 points out of 100 on the 2018 Global Competitiveness Report published by the World Economic Forum. Competitiveness Index in Albania averaged 16.22 Points from 2007 until 2019, reaching an all time high of 58.10 Points in 2018 and a record low of 3.48 Points in 2008. The most recent 2018 edition of Global Competitiveness Report assesses 140 economies. The report is made up of 98 variables, from a combination of data from international organizations as well as from the World Economic Forum’s Executive Opinion Survey. The variables are organized into twelve pillars with the most important including: institutions; infrastructure; ICT adoption; macroeconomic stability; health; skills; product market; labour market; financial system; market size; business dynamism; and innovation capability. The GCI varies between 1 and 100, higher average score means higher degree of competitiveness. With the 2018 edition, the World Economic Forum introduced a new methodology, aiming to integrate the notion of the 4th Industrial Revolution into the definition of competitiveness. It emphasizes the role of human capital, innovation, resilience and agility, as not only drivers but also defining features of economic success in the 4th Industrial Revolution. This page provides the latest reported value for - Albania Competitiveness Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Albania is the 81 most competitive nation in the world out of 140 countries ranked in the 2018 edition of the Global Competitiveness Report published by the World Economic Forum. Competitiveness Rank in Albania averaged 91.38 from 2007 until 2019, reaching an all time high of 109 in 2008 and a record low of 76 in 2018. The most recent 2018 edition of Global Competitiveness Report assesses 140 economies. In 2018, the World Economic Forum introduced a new methodology emphasizing the role of human capital, innovation, resilience and agility, as not only drivers but also defining features of economic success in the 4th Industrial Revolution. As a result, the GCI scale changed to 1 to 100 from 1 to 7, with higher average score meaning higher degree of competitiveness. The report is made up of 98 variables organized into twelve pillars with the most important including: institutions; infrastructure; ICT adoption; macroeconomic stability; health; skills; product market; labour market; financial system; market size; business dynamism; and innovation capability. This page provides the latest reported value for - Albania Competitiveness Rank - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Gold Reserves in Albania increased to 2.18 Tonnes in the fourth quarter of 2019 from 2.07 Tonnes in the third quarter of 2019. Gold Reserves in Albania averaged 2.03 Tonnes from 2000 until 2019, reaching an all time high of 3.73 Tonnes in the second quarter of 2000 and a record low of 1.57 Tonnes in the fourth quarter of 2008. Gold Reserves are country’s gold assets held or controlled by the central bank. This page provides - Albania Gold Reserves - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Albania is ranked 82 among 190 economies in the ease of doing business, according to the latest World Bank annual ratings. The rank of Albania deteriorated to 82 in 2019 from 63 in 2018. Ease of Doing Business in Albania averaged 78.33 from 2008 until 2019, reaching an all time high of 108 in 2013 and a record low of 58 in 2016. The Ease of doing business index ranks countries against each other based on how the regulatory environment is conducive to business operationstronger protections of property rights. Economies with a high rank (1 to 20) have simpler and more friendly regulations for businesses. This page includes a chart with historical data for Ease of Doing Business in Albania.

Terrorism Index in Albania decreased to 0.42 in 2018 from 1.01 in 2017. Terrorism Index in Albania averaged 0.69 from 2002 until 2018, reaching an all time high of 2.12 in 2014 and a record low of 0 in 2008. The Global Terrorism Index measures the direct and indirect impact of terrorism, including its effects on lives lost, injuries, property damage and the psychological aftereffects. It is a composite score that ranks countries according to the impact of terrorism from 0 (no impact) to 10 (highest impact).

Employment Rate in Albania increased to 61.50 percent in the third quarter of 2019 from 61.40 percent in the second quarter of 2019. Employment Rate in Albania averaged 55.20 percent from 2012 until 2019, reaching an all time high of 61.50 percent in the third quarter of 2019 and a record low of 47.10 percent in the first quarter of 2014. This page provides - Albania Employment Rate- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Labor Force Participation Rate in Albania remained unchanged at 69.80 percent in the third quarter of 2019 from 69.80 percent in the second quarter of 2019. Labor Force Participation Rate in Albania averaged 64.97 percent from 2012 until 2019, reaching an all time high of 69.80 percent in the second quarter of 2019 and a record low of 57.90 percent in the first quarter of 2014. The labour force participation rates is the number of persons who are employed and unemployed but looking for a job divided by the total working-age population. This page provides - Albania Labor Force Participation Rate- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Government Spending in Albania decreased to 40746 ALL Million in the third quarter of 2019 from 41295 ALL Million in the second quarter of 2019. Government Spending in Albania averaged 43217.96 ALL Million from 1996 until 2019, reaching an all time high of 104247 ALL Million in the fourth quarter of 2008 and a record low of 30548 ALL Million in the fourth quarter of 1997. Government Spending refers to public expenditure on goods and services and is a major component of the GDP. Government spending policies like setting up budget targets, adjusting taxation, increasing public expenditure and public works are very effective tools in influencing economic growth. This page provides - Albania Government Spending - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Consumer Spending in Albania decreased to 291199 ALL Million in the third quarter of 2019 from 313793 ALL Million in the second quarter of 2019. Consumer Spending in Albania averaged 313014.51 ALL Million from 1996 until 2019, reaching an all time high of 827012 ALL Million in the fourth quarter of 2008 and a record low of 216159 ALL Million in the fourth quarter of 2009. This page provides - Albania Consumer Spending - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Loans To Private Sector in Albania decreased to 334448.60 ALL Million in November from 335817.90 ALL Million in October of 2019. Loans To Private Sector in Albania averaged 338819.17 ALL Million from 2007 until 2019, reaching an all time high of 405564.70 ALL Million in November of 2014 and a record low of 184093.10 ALL Million in January of 2008. This page provides - Albania Loans To Private Sector- actual values, historical data, forecast, chart, statistics, economic calendar and news.