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Country Context

Population, million2.8 
GDP, current $ billion18.9
GDP per capita, current $6,743
Upper middle-income poverty rate ($6.85)34.2
Life Expectancy at birth, years 76.5

Albania is implementing important structural reforms that will support equitable growth, raise productivity and competitiveness in the economy, create more jobs, and improve governance and public service delivery. Enhanced regional connectivity and access to regional and global markets, coupled with export and market diversification, can also help promote faster growth. 

After weathering the consequences of the 2019 earthquake, COVID-19 pandemic, and cost-of-living crisis, the Government’s focus is now on full recovery with special focus on tourism, agriculture, and digitization as well as increased attention to climate change and the environment.

In 2023, growth reached 3.3% as private consumption, exports, and investment increased despite rising energy and food prices. Despite another year of exceptional growth in tourism, growth is likely to remain at similar levels in 2024. Poverty is expected to continue to decline as employment and wages rise. The country’s medium-term prospects hinge on global recovery, structural reforms, and fiscal consolidation.

The World Bank and other partners are cooperating to support the government in overcoming these challenges and implementing the country’s longer-term vision. 

Last Updated: Apr 18, 2024

days is the time needed for a new electricity connection in 2020, down from 177 days in 2016.


Albania: Commitments by Fiscal Year (in millions of dollars)*

*Amounts include IBRD and IDA commitments
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Country Office Contacts

Tirana, Albania
34 Ibrahim Rugova St.
Tirana, Albania
Tel. (355 4) 2280 650/1