Albania as a market

Albania, with a population of 2.8 million, has since 2008 had the status of middle-income country with a GDP per capita of 30% of the EU28 average in 2018. The transition from a centrally planned to a market-oriented economy, together with international aid and other strategic assistance over the last decades, has improved the Albanian economy significantly.

The country’s economic transformation continues to build on its huge potential and opportunities. During the last few years, Albania has embarked on a broad-based reform program focused on macroeconomic and fiscal sustainability, financial sector stabilization, energy concerns, pensions and territorial administration. The progress propelled by the ongoing reforms has created the conditions for rebounding business confidence and domestic demand, including early signs of increased investment and an export-led recovery.

The Albanian economy is mainly consumer based with the biggest sector being services (47,9%) while industry accounts for 21,3% and agriculture, forestry and fishing is relatively big at 18,39%.

The country joined the WTO in 2000, NATO in 2009 and in 2014 it became an official candidate for accession to the European Union. 

Our latest Smart Urban Solutions project in Albania concerned smart agriculture. You can read more about it here.