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Economy of Albania

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Economy of Albania. The economy of Albania has undergone a transition from its communist past into an open-market economy in the early 1990s.

Economy of Albania

The country is rich in natural resources, and the economy is mainly bolstered by agriculture, food processing, lumber, oil, cement, chemicals, mining, basic metals, hydro power, tourism, textile industry, and petroleum extraction . As of 2014 , exports seem to gain momentum , and have increased 300 % from 2008 , although they contribution to the Gdp is still moderate ( The exports per capita ratio as of 2014 is around 1100 $ ) History[edit] The collapse of communism in Albania came later and was more chaotic than in other Eastern European countries and was marked by a mass exodus of refugees to Italy and Greece in 1991 and 1992.

The country attempted to transition to autarky, but this eventually failed badly. Macro-economic trends[edit] Reforms have been taken especially since 2005. External trade[edit] Economy. Agriculture in Albania. Agriculture in Albania employs 47.8% of the population and about 24.31% of the land is used for agricultural purposes.

Agriculture in Albania

Agriculture contributes to 18.9% of the country's GDP. Domestic farm products accounted for 63% of household expenditures and 25% of exports in 1990. As part of the pre-accession process of Albania to the EU, farmers are being aided through IPA 2011 funds to improve Albanian agriculture standards.[1] One of the earliest farming sites in Europe has been found in Southeastern Albania.[2] Tourism in Albania. Berat, the Town of a Thousand and One Windows.

Tourism in Albania

Korçë, the city of Serenades. Taivani, the most popular restaurant of the vibrant capital Tirana Tourism in Albania is characterized by archaeological heritage from Illyrian, Greek, Roman and Ottoman times, unspoiled beaches, mountainous topography, delicious traditional Albanian cuisine, Cold War era artifacts, unique traditions and hospitality, and the wild and peculiar atmosphere of the countryside. In 2014, the New York Times ranked Albania fourth among 52 destinations to be visited.[1] Although still underdeveloped, Albania is set to prime its debut on the world scene as it celebrates a century of independence.[2] Lonely Planet ranked Albania as the no. 1 destination to be visited in 2011.[3] A Huffington Post article outlined 10 reasons for visiting Albania in 2013.[4] Albania has been officially dubbed as "A New Mediterranean Love" and more recently as "Europe's Last Secret".[5]

Tourism. Science and technology in Albania. Expenditure for scientific research and Development in Albania does not exceed 0.18% of GDP, which marks the lowest level in Europe.

Science and technology in Albania

Economic competitiveness and exports are low, with the economy still heavily skewed towards low technology. Overview[edit] From 1993 human resources in sciences and technology have drastically decreased. Science and technology. Transport in Albania. State roads experiencing upgrades since the 2000s in Albania Transport in Albania had been rather undeveloped during the Communist period (between 1945 and 1990), after which the country has had to make significant investment into transport infrastructure.

Transport in Albania

History[edit] Photo of a highway taken in 1998. During World War I, occupying forces opened up new road sections mainly in the mountainous areas of the country. In King Zog's period, further road construction took place. After 1947, a significant infrastructure undertaking was the construction of the country's rail network as Albania was considered as the only state in Europe not to have standard rail service.[1] By 1987, 677 km of railway were constructed in total linking the main urban and industrial centers for the first time since the end of World War II. Post-Communism[edit] Up until 1991, the total number of cars in Albania was between 5000 to 7000. The population is known for owning a large fleet of German cars. Aviation. Railways. Hekurudha Shqiptare. Hekurudha Shqiptare or HSH (Albanian Railways) is Albania's national company that governs the Albanian Railway System.

Hekurudha Shqiptare

The network's main terminal is in the port city Durrës. HSH's infrastructure runs east to Pogradec, south to Vlorë and north to Shkodër. There is also a branch line to capital city Tirana. The network was extended beyond Shkodër in the 1980s into what is now Montenegro, via the Albanian border town of Han i Hotit. But that section of the system is for freight only. HSH is totally non-electrified, and trains are pulled by Czechoslovak T-669 diesel electric locomotives. See also[edit] External links[edit] Rail transport in Albania. HSH train on the Tirana-Durrës line The railways in Albania are administered by the national railway company Hekurudha Shqiptare (HSH) (which means Albanian Railways).

Rail transport in Albania

It operates a 1,435 mm (4 ft 8 1⁄2 in) gauge (standard gauge) rail system in Albania. All trains are hauled by Czech-built ČKD diesel-electric locomotives. The system is considered by many travel guides as a tourist attraction and de facto a panoramic train journey. History[edit] The country's first standard gauge line was not built until 1947, although some narrow (decauville) gauge lines were built earlier during World War I. Highways.