Growth will continue to be led by domestic demand followed by fixed capital formation growth.

Economic growth is however expected to fall to 3.8 per cent in 2019 and level off at 3.6 per cent on average over the medium term. On the expenditure side, household consumption and investment contributed to much of the growth. Agriculture, Industry and the services sectors account for 19.0, 20.9 and 47.3 per cent of GDP respectively.Įconomic growth rose to 4.2 per cent in 2018 due to favourable hydrological conditions boosting energy production. The Patos-Marinza oilfield in Albania is the largest onshore oilfield in continental Europe. Albania is richly endowed with underdeveloped natural resources such as oil and minerals, including chromite, which makes it a potentially attractive destination for foreign investors. The country is implementing important reforms to revitalise growth and job creation while advancing the integration agenda of the EU. Lbania has been transformed from one of the poorest countries in Europe into an upper middle income country. Tirana is the most important economic, financial, political and trade centre in Albania due to its location in the centre of the country and its air, maritime, rail and road transportation infrastructure. The seat power is located in the country’s capital, Tirana that has a population of around 884,000. It is a unitary parliamentary constitutional republic where the President is elected as head of state and Prime Minister is the head of the government and hold the executive powers. The country features notable topographical diversity with landscapes ranging from the snow-capped Albanian Alps, Sharr, Skanderbeg, Korab, Pindus and Ceraunian Mountains, the lakes country around Podradec, fertile plains of Fier, to the sunny Adriatic and Ionian Sea coastal strip.Īlbania covers an area of 28,750 square kilometres and has a population of around 2.94 million, 67 per cent of who live in urban areas. The country’s coastline is about 480 kilometres long composed of both sandy and rocky beaches, bays, caves and lagoons. The Mediterranean Sea with the Adriatic and Ionian Sea make up the entire west border of the country. The country lies in the west of the Balkan Peninsula bordering Montenegro to the northwest, Kosovo to the northeast, North Macedonia to the east and Greece to the south.

Tourism in Albania has been a key element in the country’s economic activity and growth, and is constantly evolving as international tourists explore its heritage, natural and cultural wonders.

Mice agency albania