Background of Albania. Weather in Tirana: The hottest month is August, up to 40 C; the coldest month is January, with temperatures as low

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3 Background of Albania Albania is located in Europe, in the western part of the Balkan Peninsula and covers an area of about 28,748 square km, with a population close to 2,831,741 inhabitants. Albania is neighbored by Montenegro-northwest, Kosovo-northeast, Macedonia-east, Greece-south and southeast, Italy-72 km (50 miles) across the Adriatic. Seas: Adriatic and Ionian-west and southwest. Capital city: Tirana (nearly 800,000 residents). 3 Measures: Metric system. Currency: LEKË. Climate: Albania has a Mediterranean climate, with warm, dry summers and mild, wet winters. Weather in Tirana: The hottest month is August, up to 40 C; the coldest month is January, with temperatures as low as -2 C. Rainfall is abundant in Albania, but it occurs unevenly throughout the year. 3

4 Basic Statistics of Albania Area Population 2,831,741 28,748 km 2 Land: 27, 398 km 2 Water: 1,350 km 2 Kep i Rodonit Bishti i Pallës Labor Force 1 1,071,948 (First trimester 2011) Capital Tirana Language Albanian Currency Albanian Lek (ALL) Kep i Gjuhëzës Koplik L. Shkodër Gjri i Drinit Durrës Lezhë Krujë Durrës Krujë Kavajë Kavajë Lushnje Lushnje Fier Vlorë Malesia e Madhe Shkodër Shkodër Lezhë Laç Fier Balish Vlorë Kuçovë Mallakastër Burrel Tiranë Tirana Elbasan Peqin Peqin Elbasan Gramsh Berat Berat Tepelenë Tropojë Pukë Pukë Bajram Curri Mirditë Rrëshen Matt Tepelenë Liq i Fierzës 2416 m Has Dibër Krumë Bulqizë Bulqizë Librazhd Kukës Peshkopi Librazhd Pogradec Gramsh Pogradec Çorovodë Skrapar Kukës L. Orhid Korçë 2383 m Korçë Ersekë Kolonjë Përmet Përmet L. Prespa Shkumbin Devoll Bilisht Devoll Vijosë Gjirokastër Delvinë Glirokastër Sarande Delvinë Sarande 1 Labour force defined as people in work plus registered unemployed (Albania in Figures 2010 INSTAT.

5 1. KEY ECONOMIC INDICATORS 1.1 Gross National Product Balance of Payments Trade Price Indices Federal government accounts Exchange Rates Money and Banking AREA, POPULATION AND LABOUR FORCE 2.1 Population Population Age Structure Labour Force Employment GROSS DOMESTIC PRODUCT 3.1 Gross Domestic Product by economic activities Gross domestic product by production approach Gross domestic product by economic activities Gross domestic product by expenditure approach PUBLIC SECTOR ACCOUNTS 4.1 Revenues regarding consolidated budget Expenditure BALANCE OF PAYMENTS 5.1 Goods (net) Services Account (net) Current Transfers Current Account Balance (net) Capital & Financial Account Balance (net) Overall Balance EXTERNAL SECTOR 6.1 Export by group of goods Imports by group of goods Direction of Exports Sources of Imports ENERGY AND INFRASTRUCTURE 7.1 Electricity Roads by Surface Type Railway Statistics Air Traffic Statistics Port Statistics QUALITY OF LIFE 8.1 Indices of Albania Selected Social Indicators Tourist Arrivals by Region INTERNATIONAL COMPARISON 9.1 Real Gross Domestic Product Consumer Price Index Structure of Output Population, Urbanization and Population Density Structure of Employment Saving and Investment Science and Technology...39

6 2. Key Economic Indicators / III Population thousand Labour force thousand Employment thousand Unemployment thousand Unemployment Rate % NATIONAL PRODUCT / III Real GDP billion ALL ,151, growth rate % Real GNI million ALL GDP current price million ALL GNI current price million ALL Income per capita, current US $ BALANCE OF PAYMENTS / III Current account million EUR

7 TRADE / III Merchandise exports million ALL Merchandise imports million ALL PRICES / III Consumer Price Index (CPI) % 2007 = Producer Price Index (PPI) % 2005 = FEDERAL GOVERNMENT ACCOUNTS / III Grants In millions ALL Tax In millions ALL Non Tax In millions ALL TOTAL Expenditure In millions ALL, Current In millions ALL Capital In millions ALL Other In millions ALL n.a Overall balance In millions ALL ,3 (-) , III -22,4 2

8 EXCHANGE RATES / III ALL / EUR ALL / USD ALL / GBP ALL / CHF ALL/ JPY, per ALL / CAD MONEY & BANKING bilion ALL / III Money supply M n.a M n.a M n.a Commercial Banks Nov 2011 Total deposits Total Credit million ALL Lost Loans % 0, Total Number of Banks

9 Interest rates on new Loans by currency breakdown % / III 6 months - 1 year 3-5 years ALL USD EUR ALL USD EUR Bank of Albania key interest rates % Nov Overnight deposit Weekly repurchase agreement Overnight Credit Lombard Credit 3-month Treasury Bills* Date Level Date Level Date Level Date Level Nov Nov Nov-07 8 Nov Dec Dec Dec-08 7 Dec Oct Oct Oct-09 6 Oct Jul Jul-10 5 Jul Jul % n.a Sep Sep-11 5 Sep Sep Source: Bank of Albania, Instat, World Bank 4

10 8% 7% 6% 5% 4% 3% 2% 1% 0% 8% 6% 4.1% 4.4% 3% 3.7% 4% 3.1% 3.4 % 2.2% 1.7% 0.4% 0.3% 0 0.2% Real GDP Consumer Pri ce Index (CPI) Produce r Price Index (PPI) Nov-11 EUR USD GBP CH HF JPY CAD 5

11 Population and labour force Population Unit thousand 3,161,337 2,116,772 3,194,417 2,994,667 2,831,741 Population age Structure , , , , ,102,268 1,061,262 2,146,613 2,040, & above 283, , , ,496 Labour Force thousand Labour Force Participation rate Total % 66% 61% 49% 49% Male % 60% 61% 59% 59% Female % 40% 39% 41% 41% Unemployement % 14% 13% 14% 14% Source Instat 1 Data of 2011, is yet to be made public from the 2011 Census. Only total population has been made available 6

12 Employement Employement Total thousand Agriculture thousand Production Industry thousand Refinery Industry thousand Energy, water industry thousand Construction thousand Commercial thousand Hotels, restaurants thousand Tansport, Communication thousand Education thousand Health thousand Other thousand Source Instat 7

13 Gross Domestic Product Annual real growth of Gross Domestic Product by economic activities ( , compared with prices of previous year) * 2010** 2011 Agriculture, hunting and forestry Industry Construction Services FISIM GROSS VALUE ADDED AT BASIC PRICES Taxes on products Subsidies on products (-) GDP AT MARKET PRICES Source: Bank of Albania, Instat, Ministry of Finance *Semi final data ** Preliminary data 8

14 Gross domestic product by production approach ( , at current prices) Year * 2010** 2011 Output 1 1,739,537 2,001,152 2,143,531 2,294,878 Intermediate Consumption 2 866,895 1,027,325 1,112,075 1,180,287 Gross Value Added (3=1-2) 872, ,827 1,031,456 1,114,591 1,800,199 FISIM 4 38,681 40,902 43,344 46,915 48,910 Net taxes on products 5 136, , , , ,464 Subsidies on products 6 3,079 2,344 1,810 1,778 1,647 GDP at market prices 7=( ) 967,670 1,089,293 1,151,020 1,242,418 1,312,106 Source: Bank of Albania, Instat, Ministry of Finance *Semi final data ** Preliminary data 9

15 Gross domestic product by economic activities ( , at current prices) Year * 2010** 2011 Agriculture, hunting and forestry 1 154, , , , , ,641 Industry Total 2=3+4 88,207 81,693 95, , , ,782 - Extracting 3 5,894 8,005 11,223 9,729 14,662 22,436 - Manufacturing 4 82,313 73,687 84,006 92, , ,345 Construction 5 113, , , , , ,602 10

16 Services Total 6= , , , , , ,174 Trade, Hotels and Restorants 7 166, , , , , ,970 Transport 8 43,350 47,325 53,117 56,236 69,784 86,730 Post and communication 9 31,614 37,208 40,695 41,217 38,101 38,005 Other Services , , , , , ,468 FISIM 11 30,446 38,681 40,902 43,344 46,915 48,910 GROSS VALUE ADDED AT BASIC PRICES 12= , , , ,113 1,067,676 1,131,288 Taxes on products , , , , , ,464 Subsidies on products (-) 14 3,718 3,079 2,344 1,810 1,778 1,647 GDP AT MARKET PRICES 15= , ,670 1,089,293 1,151,020 1,242,418 1,312,106 Source: Bank of Albania, Instat, Ministry of Finance *Semi final data ** Preliminary data 11

17 Gross domestic product by expenditure approach ( , current prices in milion Leks) Description * Expenditure Aproach Final Consumption (a+b+c) 724, , , ,504 n.a n.a n.a Final Consumption of the Households 634, , , ,890 n.a n.a n.a Final Consumption of General Government 88,508 89,411 98, , , ,595 n.a Consumption of NPISHs 1,192 1,371 1,504 1,693 1,790 1,892 n.a Gross Fixed Capital Formation 301, , , , , ,818 n.a Domestic Absorption (1+2) 1,025,525 1,114,987 1,248,995 1,389,625 n.a n.a n.a Net export (a-b) -200, , , , , , ,696 Exports of goods and services (f.o.b) 185, , , , , , ,491 Imports of goods and services (f.o.b) 386, , , , , , ,187 Change in inventories & statistical discrepancy -9,904-24,712-22,805-10,266 n.a n.a n.a GROSS DOMESTIC PRODUCT (3+4+5) 814, , ,670 1,089,293 1,151,020 1,242,418 1,312,106 Source:, Instat, *Semi final data ** Preliminary data 12

18 PUBLIC SECTOR ACCOUNTS Revenues regarding consolidated budget Unit Total Revenue Mil leks 251, , , , ,475 % GDP 26,0 26,8 26,2 24,7 25,2 I Grants 1,280 4,228 4,430 4,605 3,811 II Tax Revenue Mil leks 228, , , , ,933 % GDP 23,6 24,3 23,7 22,0 23,2 1 From Tax office and customs 176, , , , ,509 % GDP 18,3 18,9 18,3 17,0 17,9 2 Revenues from Local Government 9,366 11,307 12,148 11,898 11,792 3 Revenues from Indipendent budget (Contributions) 41,989 47,822 49,812 53,647 56,632 III Nontax Revenue 22,112 22,588 24,338 31,552 22,731 Total Expenditure mil leks 285, , , , ,352 % GDP 29,5 32,3 33,2 27,6 28,7 *2011 /Data for 2011 is as at November 2011 Source: Ministry of Finance / INSTAT/ Bank of Albania 13

19 I Current Expenditure mil leks 224, , , , ,024 % GDP 23,2 23,0 24,8 24,6 n.a 1 Personnel Expenditure 59,087 66,621 62,359 65,762 60,776 2 Interest 25,594 31,307 36,301 41,604 37,348 3 Operational and Maintenance 25,259 28,788 31,797 34,318 29,133 4 Subsidies 3,536 2,555 2,004 3,535 3,181 5 Social Insurance Outlays 69,892 76,199 96, , ,414 6 Local Budget 21,340 27,079 33,583 30,764 25,134 7 Other Expenditure 14,768 17,750 19,129 18,688 17,049 II Capital Expenditure mil leks 57,040 93,783 95,881 67,492 58,524 % GDP 5,9 8,6 8,4 5,5 n.a III Other 3,658 5, (5,618) n.a OVERALL DEFICIT mil leks (34,119) (60,254) (80,101) -38,031-37,993 %GDP 3,5 5,5 7,0 3,1 n.a Domestic Financing mil leks 28,829 24,417 69,824 27,819 21,981 %GDP 3,0 2,2 6,1 2,3 n.a Foreign Financing mil leks 5,289 35,837 10,182 10,212 16,012 % GDP 0,5 3,3 0,9 0,8 n.a *2011 /Data for 2011 is as at November 2011 Source: Ministry of Finance / INSTAT/ BOA 14

20 Balance of payments (e) Goods (net) EUR million -2,104-2, , n.a Exports EUR million , Imports EUR million 2, , , , , Services (net) EUR million Services (net) \ million ALL EUR million 495, , , n.a n.a Source: Ministry of Finance 15

21 / III 2011 (e) EUR % of EUR % of EUR % of EUR % of ALL % of million GNI million GNI million GNI million GNI million GNI Current Transfers Private Official Private Official Private Official Private Official Private Official n.a n.a Current Account Balance (net) n.a n.a Capital & Financial Account Balance Capital Account Financial Account Direct investment Portfolio investment Other investment / Other Capital, net* Overall balance Overall balance Central Bank Reserve assets n.a Source: Source: Ministry of Finance *without fund credit and loans 16

22 External Sector Export by group of goods mln leks Total 77,405 97, , , , ,427 Consumables 6,143 7,079 7,215 7,498 9,318 11,134 Energy 5,809 14,987 20,339 20,648 44,858 58,853 Chemical and plastic ,177 1,644 1,695 2,814 Leather and Leather manufacturing 1,486 2,022 1,738 1,529 2,567 2,925 Wood manufacturing 2,504 3,031 3,619 3,431 4,796 4,557 Textile and footwear 42,419 47,069 48, ,345 55,623 64,006 Contruction 13,203 15,386 22,492 12,914 31,881 41,790 Machineries 2,979 3,925 4,578 4,894 6,766 7,923 Others 2,300 2,889 2,600 2,341 3,457 3,426 17

23 Diversification of exports by group of goods 70,000 60,000 50,000 40,000 30,000 20,000 10, Consumables Energy Chemical and plastical Leather and manufactures Wood manufactores Tekstile and footwear Contrustion Machineries Others 18

24 Import by group of goods mln leks Total 299, , , , , ,391 Consumables 53,464 60,895 73,160 74,692 80,449 91,419 Energy 41,472 62,932 78,705 61,990 72, ,129 Chemical and plastic 33,086 39,526 45,465 50,971 54,855 60,009 Leather and Leather manufacturing 6,528 7,825 6,924 6,914 8,302 9,409 Wood manufacturing 10,887 13,323 15,016 17,446 19,847 20,431 Textile and footwear 35,111 39,310 39,582 39,557 43,688 50,443 Contruction 47,836 59,560 67,827 66,693 73,499 81,781 Machineries 60,369 78,773 97,059 98,381 88, ,946 Others 10,393 14,049 16,156 14,463 16,734 17,823 Source: Bank of Albania, Instat 19

25 Import by group of goods 120, ,000 80,000 60,000 40,000 20, Consumables Energy Chemical and plastical Leather and manufactures Wood manufactores Tekstile and footwear Contrustion Machineries Others 20

26 Values of Exports by country of destination Countries mln Leks % mln Leks % mln Leks % mln Leks % mln Leks % Italy 66, , , , , China 2, , , , , Greece 8, , , , , Spain , , , Germany 2, , , , , Kosovo 4, , , , , Swicerland , , , Austria , , Total 97, , , , , Source: Bank of Albania, Instat 21

27 Values of Exports by country of destination Italy China Greece Spain Germany Kosovo Swicerland Austria 22

28 Volume of Import by country of origin Countries Ton % Ton % Ton % Ton % Ton % Greece 1,234, ,262, ,652, ,002, , Italy 945, ,043, ,099, ,149, ,246, Russian Federation 481, , , , , Turkey 375, , , , , Spain 121, , , , , China 140, , , , , Croatia 45, , , , , Macedonia 184, , , , , France 9, , , , , Ukraine 259, , , , , Bulgarian 60, , , , , Other 868, , ,155, ,206, ,183, Total 4,665, ,661, ,298, ,674, ,454, Source: Bank of Albania, Instat 23

29 Volume of Import by country of origin Greece Italy Russian Federation Turkey Spain China Croatia Macedonia France Ukraine Bulgarian 24

30 Flow of goods in foreign trade 600, , , , ,000 Export Import Trade balance Export Import Trade balance , , , , , , , , , , , , , , , Percentage of cover 25

31 Energy and Infrastructure 10.2 Electricity \2011 Produced ( GWh ) Imported (GWh) import-export Balance ( GWh) Losses ( % ) * Source: Regulatory Entity for Energy 26

32 Unit (e) Roads by Surface Type Paved km 7020 Unpaved km TOTAL km 18,000 Railway Statistics Inter-city daily ridership 000s n.a n.a n.a n.a KTM Komuter daily ridership 000s n.a n.a n.a n.a Light Rail daily ridership 000s n.a n.a n.a n.a Total freight traffic 000 tonnes Source: Ministry of Public Affairs and Transportation, CIA, Instat 27

33 Air Traffic Statistics (No. of Passengers) International million 1,259,665 1,394,688 1,536, ,273 TOTAL (including transit) million 1,259,665 1,394,688 1,536, ,273 Cargo Handled Domestic tonnes N/A N/A N/A N/A International tonnes TOTAL (including transit) tonnes Port Statistics (Composition of Cargo) General cargo mil tonnes n.a Liquid bulk cargo mil tonnes n.a n.a n.a n.a Containerized cargo mil tonnes/teu s* n.a n.a n.a n.a TOTAL mil tonnes n.a n.a n.a n.a Source: Ministry of Public Affairs and Transportation, CIA, Instat 28

34 Quality of Life Cost of Living 75 Leisure & Culture 76 Economy 57 Environment 64 Freedom 67 Health 68 Infrastructure 36 Risk & Safety 71 Climate 90 Final Score 64 Final Score Climate Risk & Safety Infrastructure Cost of Living Health Leisure & Culture Economy Environment Freedom 29

35 Selected Social Indicators Cellular phones (million) Telephone fixed lines 331,500 Internet subscribers (per 100 ) Enrollment primary (%) Enrollment secondary (%) Forested Land(% of total land) Maternal mortality rate (per live births) Life expectancy at birth Birth rate, crude(per 1000 people) Death rate, crude(per 1000 people) Literacy rate, youth total %(15-24) 98.8 Literacy rate, adult total%(15 and above) 95.9 Infant mortality rate(per 1000 live births) Beds in hospital ( per 1000) 2.92 Source: World Bank 30

36 Tourist Arrivals by Region (Jan-Jun) 2010 (Jan-Jun) FYR Macedonia 341, , ,894 Kosovo 324,771 91, ,459 Montenegro 120,125 64,525 65,243 Italy 98,573 42,092 43,630 Greece 85,505 45,728 45,132 Serbia 59,557 15,534 15,368 Great Britain 60, ,463 Turkey 32,575 15,205 15,251 Germany 38,428 14,066 14,474 France 18,369 6,594 7,263 Source: Ministry of Tourism International Comparison 700, , , , , , , (Jan-Jun) 2010 (Jan-Jun) 31

37 International Comparison Real Gross Domestic Product (% Annual growth) FYR of Macedonia Greece Bulgaria Bosnia & Herzegovina Montenegro Serbia Romania Albania Source: Central bank of Macedonia, Central bank of Montenegro, Central bank of Bosnia & Herzegovina, Central bank of Romania, Central bank of Bulgaria, Central bank of Greece, Central bank of Serbia, Bank of Albania 32

38 Consumer Price Index (% Annual Growth) Consumer Price Index (% Annual Growth) FYR of Macedonia Greece Bulgaria Bosnia & Herzegovina Montenegro Serbia Romania Albania Source: World Bank 33

39 Structure of output Year GDP(US$ billion) Value added as percent of GDP (%) Agriculture Industry Services FYR of Macedonia Greece Bulgaria Bosnia & Herzegovina Montenegro Serbia Romania Albania Source: CIA 34

40 Life Expectancy at birth Male Female Infant Mortality rate (per 1000 live births) Crude Birth Rate (per 1000 population) Internet Users (per 1000 users) Adult Literacy Rate (% age 15 & above) Tertiary Gross Enrolment Ratio (%) Mobile Subscribers FYR Macedonia ,943,216 Greece (2007) 13,295,093 Bulgaria ,575,700 Bosnia & Herzegovina ,257,239 Montenegro n. a 45 1,294,167 Serbia n. a 50 9,912,339 Romania ,400,000 Albania n.a n.a Source: World Bank 35

41 Population, Urbanization and Population Density Surface Area ( 000 km²) Population Population Density (per km²) Urban Population as % of Total Population FYR of Macedonia 25,7 2,060, Greece 131,9 11,319, Bulgaria 111 7,543, Bosnia & Herzegovina 3,760, Montenegro 13,8 631, Serbia 88,3 7,292, Romania 238, ,442, Albania 28,748 2,831, n.a Source: World Bank % of Population using Improved Water sources 36

42 Employment Total Employment Employment by Sector (% of Total Employment) Country % Agriculture Industry (1) Services FYR of Macedonia Greece Bulgaria Bosnia & Herzegovina * 32.6* 47.6 * Montenegro Serbia Romania Albania Source: World Bank 37

43 Saving and Investment (% of GDP) * * FYR of Macedonia Bosnia & Herzegovina Savings Savings Investment n.a n.a n.a n.a Investment Greece Montenegro Savings Savings Investment Investment ,000 22,000 Bulgaria Serbia Savings Savings Investment Investment Romania Savings Investment Albania Savings Investment Source: World Bank 38

44 Science and Technology Information Technology Skills Broadband Subscribes 2008 Fixed Telephones users 2009 Mobile Phones users 2008 Personal Computers per 100 people 2008 Internet Users 2008 Internet Costs/ months * FYR of Macedonia ,10% 69,56% 22,17 13,15% $ Greece ,52% 99,62% 9,17 18,38% $ Bulgaria ,28% 107,59% 6,34 24,38% $ Bosnia & Herzegovina ,28% 48,25% 5,43% 24,28% $ Montenegro ,37% 7,83% 2,53% $ Serbia $ Romania ,44% 80,45% 12,96 32,36% $ Albania* ,39% 148% % 20 $ Source: World Bank Data for Albania are of

45 AIDA is the official investment promotion, SME development and export promotion agency that facilitates and supports direct investment in Albania, through the identification and promotion of investment opportunities, offering services and support to existing or potential investors. AIDA serves as a one-stop-shop for inward investors to ensure faster and efficient services. The agency conducts all activities and takes all necessary initiatives to support private sector development and improve the business climate, as well as intermediates between investors and state authorities. AIDA offers for the foreign and domestic investors, comprehensive support for their investment projects. AIDAs qualified staff, not only assists with market analysis and potential sectors for investment, but also with advice on finding suitable properties and locations, as well as assistance on identifying new and existing projects. 40

46 Blv Gjergj Fishta, Pall. Shallvare, Tirana, Albania Tel: +355 (0) web:

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