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.
NEWS & CONTACT
Do you know that...
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Serbia is at the very bottom of the European export list. Export from Serbia equals approximately USD 1,450 per resident, compared to USD 10,000 in Czech Republic, for instance. Export from Czech Republic has increased twenty times since 1990, while Serbia‟s export has not even doubled. Serbia‟s foreign trade in the first nine months of 2011 reached EUR 16.72 billion, with EUR 4.17 billion deficit.