Albania, despite being an European country, we will also assign to the Islamic Civilization (Central Eurasian Economic Area).
Albanian Economy.
The Republic of Albania is a transition economy;
During the communist period, Albania was the most closed and planned country of all, and its effects are still remarkable;
The organized crime and corruption is a serious problem in Albania;
Albanian GDP (nominal): 30,660 million dollars;
GDP per capita: 11,885 dollars;
Currency of Albania: Albanian Lek;
Albania has the largest oil reserves (on land) in Europe;
Albania is the third world chromium producer (10% of the world's total);
Mining: 40% of the Albanian GDP;
Entry of foreign investment in sectors such as energy and
Transport
infrastructures;
The main sectors of the Albanian Economy are agriculture, food processing, wood, petroleum, cement, chemical products, mining, base metals, hydroelectric power, tourism, textile industry, and footwear;
Albania is rich in natural resources, has valuable copper, iron and nickel
mines;
Albania requested accession to the EU in 2009 (EU Enlargement).
Albanian Foreign Trade.
Albanian exports have increased by 300%;
The main Albanian exports are textiles and footwear, asphalt, metals and metal minerals, petroleum, vegetables, fruits, and tobacco;
Top Albanian exports destinations are Italy (43%), Kosovo, the U.S., and China;
The main Albanian imports are machinery, food products, textiles, and chemical products;
The main suppliers of Albania are Italy (33%), China, Greece, and Turkey.
Albania-Turkey Free Trade Agreement.
(c) EENI Global Business School (1995-2023)
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