Economy

INSTAT: Cities with the highest employment in agriculture, industry and services

Referring to INSTAT, the district of Tirana has the highest number of employees in the service sector for 2018. 66% are engaged in this sector, thus holding the first place with regard to employment in service sector. The contrary happens with agriculture, where Tirana remains in the last place with regard to the employees in this sector with only 7%. ...

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World Bank spring report: Albania,the greatest economic growth in the region, amounting to 4.2% in 2018

According to World Bank spring 2019 report on the economy in the Western Balkans region, Albania has had the greatest economic growth, amounting to 4.2% in 2018. The World Bank notes that “net exports contributed to an increase of 1.3% of Albania’s GDP, thanks to an increase in export of electricity produced by hydro power plants and a good tourist ...

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Tourism upward trend, increased 17% in April

On the verge of the beach season opening, the number of foreign tourists who visited Albania during April increased by 17% compared to the previous year. According to the official figures of the border crossing points in the fourth month of the year over 410 thousand foreign citizens entered Albania, the number almost doubled as compared to the figures of ...

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Soreca: EU and EBRD proud of investing in Albanian tourism

The EU-EBRD tourism project, which will focus on investments in Albanian tourism, is presented. The project envisages an investment of 100 million Euros to develop tourism in our country. EU Ambassador Luigi Soreca said in his speech that the joint EU – EBRD project will be implemented mainly at the local level. Soreca added that the tourism industry empowers Albania ...

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Albania signs a new contract with SHELL

Albania has signed a new agreement for the hydrocarbons, where it benefits as the legal owner of the oil. The minister of infrastructure and energy signed the newly drafted agreeing for Block 2 and 3 with the globally renowned company, SHELL. Minister Balluku praised Shell for the investments made in Albania that reach 500 million EURO, stating that the signed ...

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WB: Albania with the highest level of employment in the region

World Bank released its latest report on Western Balkan countries highlighting that Albania is the country with the highest level of employment in the region. World Bank underscores that Albania scored the highest level of employment by 52.1%, thus recording the highest growth by 1.8% in 2018. WB report underlines that industry employment increased by 3.9% in 2018 and employment ...

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Albania’s consumer and business confidence in the first quarter of 2019

Albania’s consumer confidence index increased to -8.7 in the first quarter of 2019 from an upwardly revised -11.9 in the previous three-month period. It was the highest reading in consumer morale since the third quarter of 2017, as expectations over the next 12 months improved regarding financial situation (9.0 from 7.3 in Q4); general economic situation (10.4 from 7.6); savings ...

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Pm Edi Rama praises the dropped unemployment rate in Albania

‘’ Albania during 2018 has created more than the half of the new job positions that the entire region created this year’’. This was the declaration of the Pm Edi Rama, quoting the report of the World Bank. Pm Rama stressed that ‘’unemployment dropped with more than 6% since he took office back in 2013 ‘’. ‘’There is still more ...

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60,000 Albanian citizens benefit from Social Security Agreement signed between Albania and Canada

An agreement on “Social Protection between Albania and Canada and the Administrative Regulation” was signed between the Ministry of Finance and Economy of Albania and the Department of Employment and Social Development of Canada. The agreement was signed by the Canadian Minister of Foreign Affairs Chrystia Freeland, and the Ambassador of Albania in Canada Ermal Muça. Under this agreement, the ...

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Eurostat: EU imported from Albania 215 mln Euros in apparel in 2018

The EU imported from Albania 215 m Euros in apparel in 2018, about 11% more than the previous year. Most of them were destined for Italy, where only in 2018 imports of apparel from Albania amounted to about 158 ​​million Euros, which increased by 10% compared to 2017, according to data published by Eurostat. After Italy, which accounts for 73% ...

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