y is bolstered
by annual remittances from abroad of $600-$800 million, mostly from
Albanians residing in Greece and Italy; this helps offset the
towering trade deficit. Agriculture, which accounts for more than
one-fifth of GDP, is held back because of lack of modern equipment,
unclear property rights, and the prevalence of small, inefficient
plots of land. Energy shortages and antiquated and inadequate
infrastructure contribute to Albania's poor business environment,
which make it difficult to attract and sustain foreign investment.
The completion of a new thermal power plant near Vlore and improved
transmission line between Albania and Montenegro will help relieve
the energy shortages. Also, the government is moving slowly to
improve the poor national road and rail network, a long-standing
barrier to sustained economic growth. On the positive side,
macroeconomic growth was strong in 2003-07 and inflation is low and
stable.

Algeria
The hydrocarbons sector is the backbone of the economy,
accounting for roughly 60% of budget revenues, 30% of GDP, and over
95% of export earnings. Algeria has the eighth-largest reserves of
natural gas in the world and is the fourth-largest gas exporter; it
ranks 14th in oil reserves. Sustained high oil prices in recent
years have helped improve Algeria's financial and macroeconomic
indicators. Algeria is running substantial trade surpluses and
building up record foreign exchange reserves. Algeria has decreased
its external debt to less than 10% of GDP after repaying its Paris
Club and London Club debt in 2006. Real GDP has risen due to higher
oil output and increased government spending. The government's
continued efforts to diversify the economy by attracting foreign and
domestic investment outside the energy sector, however, has had
little success in reducing high unemployment and improving living
standards. Structural reform within the economy, such as development
of the banking sector and the construction of infrastructure, moves
ahead slowly hampered by corruption and bureaucratic resistance.

American Samoa
American Samoa has a traditional Polynesian economy
in which more than 90% of the land is communally owned. Economic
activity is strongly linked to the US with which American Samoa
conducts most of its commerce. Tuna fishing and tuna processing
plants are the backbone of the private sector, with canned