Steady Growth in a Shifting Global Landscape In a world where economic forecasts often read like weather reports, unpredictable and stormy, Albania is quietly carving out a reputation as a beacon of stability and resilience.
Let’s zoom in on how Albania is performing globally, regionally, and domestically and why that matters for your next investment decision.
Global Economic Pulse: A Mixed Yet Promising Forecast
As we step into 2024, the global economic engine is chugging along with cautious optimism. The International Monetary Fund (IMF) projects a global growth rate of 3.1%, just shy of the pre-2020 average. For emerging markets, like Albania, the outlook is even brighter with a projected 4.1% growth in 2024 and 4.2% in 2025.
While the world wrestles with high interest rates and productivity slowdowns, Albania is managing to stay the course.
Key Sectors Driving the Economy

Albania’s economy isn’t a one-trick pony. It’s fueled by a healthy mix of agriculture, services, and industry. Here’s how the country’s economic pie is sliced:
  • Services (incl. tourism) – 47.3% of GDP
  • Agriculture – 18.6% of GDP (employs 36% of the workforce)
  • Industry (incl. manufacturing) – 21.4% of GDP
What’s notable?
Tourism isn’t just booming, it now accounts for 46% of total exports and 65% of service exports. That’s not just impressive, it’s transformative.
Albania’s Economy: Built to Bounce Back

Here’s the thing about Albania—it doesn’t just endure setbacks; it rebounds from them stronger.

After navigating a major earthquake in 2019 and the global disruptions of COVID-19, Albania bounced back with nearly 5% growth in 2022. In 2023, the country’s GDP reached $23 billion, almost double what it was just a decade ago. For 2024, the forecast is a steady 3.7% GDP growth, with tourism and construction taking the lead.
International Trade & Key Partners
 
Albania’s top exports in 2024 were:
  • Textiles and Footwear – 27.8%
  • Minerals, Fuels & Electricity – 22.1%
  • Construction Materials & Metals – 21.6%
  • Food, Beverages & Tobacco – 10.6%
When it comes to partnerships, Albania has strong ties with Germany, Italy, Greece, and Kosovo. These relationships are set to deepen, offering more export potential and investment synergy.
Credit Ratings: Stability Gets a Nod

Albania’s commitment to reform and economic resilience hasn’t gone unnoticed.
  • Standard & Poor’s (S&P): Upgraded outlook to “Positive”, reaffirmed rating at B+
  • Moody’s: Maintained B1 Stable
  • TE Rating: Scored 35 (indicative of moderate risk with improving fundamentals)
The upgrades reflect confidence in Albania’s fiscal management and expanding tourism sector, which continues to outperform expectations.
Conclusion: Albania Is Outpacing Expectations

Albania is steadily positioning itself as one of Southeastern Europe’s most promising investment destinations. From a growing GDP to rising FDI and favorable credit ratings, the country is building real momentum.

The bottom line? Albania is no longer the underdog, IT’S A SERIOUS CONTENDER.