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Albania [+]Compare [E]dit [H]istory

Aliases: People's Socialist Republic of Albania, Republic of Albania, Republika e Shqiperise, Shqiperia

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Object «Albania» has attributes

Attribute Value
Geography
Area 28,748 km²
Continent Europe
Land area 27,398 km²
Water area 1,350 km²
Land boundaries 691 km
Border countries
  • Greece
  • Kosovo
  • Macedonia
  • Montenegro
Coastline 362 km
Mean elevation 708 m
Lowest point 0 m
Highest point 2,764 m
People
Population 3,074,579
Official languages
  • Albanian
Religion Muslim
Government
Long country name Republic of Albania
Short country name Albania
Long local name Republika e Shqiperise
Short local name Shqiperia
Former name
  • People's Socialist Republic of Albania
Government type Parliamentary republic
Capital Tirana
Economy
GDP (PPP) 36,010,000,000 USD
GDP (OER) 13,070,000,000 USD
GDP (real growth rate) 3.8 %
GDP - per capita (PPP) 12,500 USD
Gross national saving 15.9 % of GDP
Labor force 1,198,000
Unemployment rate 13.8 %
Population below poverty line 14.3 %
Budget revenues 3,614,000,000 USD
Budget expenditures 3,874,000,000 USD
Military expenditures 1.26 % of GDP
Taxes and other revenues 27.6 % of GDP
Budget surplus or deficit -2 % of GDP
Public debt 71.8 % of GDP
Inflation rate 2 %
Central bank discount rate 1.25 %
Commercial bank prime lending rate 8.22 %
Stock of narrow money 4,155,000,000 USD
Stock of broad money 4,155,000,000 USD
Stock of domestic credit 8,122,000,000 USD
Market value of publicly traded shares Add
Current account balance -908,000,000 USD
Exports 900,700,000 USD
Imports 4,103,000,000 USD
Reserves of foreign exchange and gold 3,590,000,000 USD
External debt 9,505,000,000 USD
National currency leke
National currency (code) ALL
National currency (symbol) Lek
National currency rate to USD 121.9

Albania declared its independence from the Ottoman Empire in 1912, but was conquered by Italy in 1939 and occupied by Germany in 1943. Communist partisans took over the country in 1944. Albania allied itself first with the USSR (until 1960), and then with China (to 1978). In the early 1990s, Albania ended 46 years of isolated communist rule and established a multiparty democracy. The transition has proven challenging as successive governments have tried to deal with high unemployment, widespread corruption, dilapidated infrastructure, powerful organized crime networks, and combative political opponents. Albania has made progress in its democratic development since it first held multiparty elections in 1991, but deficiencies remain. Most of Albania's post-communist elections were marred by claims of electoral fraud; however, international observers judged elections to be largely free and fair since the restoration of political stability following the collapse of pyramid schemes in 1997. Albania joined NATO in April 2009 and in June 2014 became an EU candidate. Albania in April 2017 received a European Commission recommendation to open EU accession negotiations following the passage of historic EU-mandated justice reforms in 2016. Although Albania's economy continues to grow, it has slowed, and the country is still one of the poorest in Europe. A large informal economy and a weak energy and transportation infrastructure remain obstacles.

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