INVESTMENTS IN ALBANIA

The Albanian economy has in recent years posts a steady GDP growth rate, both in market value and in nominal levels.
The per capita income now stands at 11.400 dollars, the unemployment is at 18% and only 14,3 % of the population lives below the poverty threshold.
The country’s energy deficit is covered by electricity imports and its trade balance tends to be in a negative ratio of 1:2 between exports and imports.
The banking system is organized and in its framework several Greek-owned banks operate. The interest rate is considered high (8,66%).
The tax on business profits amount to 15% and is the lowest in the Balkans, the income tax is also 10% and the maximum scale of VAT is 20%.

ALBANIA

2014

G.D.P. in purchasing power terms (billion $)

$31,59

G.D.P. in nominal values (billion $)

$13,28

G.D.P. growth in 2014

1,90%

Per capita G.D.P. in purchasing power terms

$11.400

Investments in fixed assets as % of the G.D.P.

26,50%

Inflation rate

1,60%

Total borrowing of the economic units (bil. $)

$8,231

Exports (bil. $)

$2,431

Imports (bil. $)

$5,25

Total Foreign Direct Investments (bil. $)

$5,557

Work Force (mil.)

1,077

Unemployment rate

18%

% of people under the poverty threshold

14,30%

Energy production (bil.)

4,726 kWh

Energy consumption (bil.)

7,793 kWh

State budget incomes (bil. $)

$3,476

State budget expenditures (bil. $)

$4,16

State budget deficit as a % of the G.D.P.

-5,10%

Tax incomes as a % of the GDP

26,20%

Public Debt as a % of the GDP

72%

Foreign Dept (bil $)

$8,782

Lending interest rate of commercial banks

8,66%

Corporate tax rate

15%

Highest income tax rate

10%

Highest VAT rate

20%

Insurance Contributions for employee

11,20%

Insurance Contributions for employer

16,70%

Energy, food, real estate, tourism and trade are the most usual sectors attracting foreign investors. It should be noted that in the country, apart from the fact that a significant proportion of the population speaks Greek, also important is the presence of Greek-owned banks.

Do you know that...

  • Albania has officially abandoned plans to develop nuclear energy and will instead focus on renewable.

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