GA, OIC, OIF, OPCW, OSCE, PFP, SECI,
UN, UNCTAD, UNESCO, UNIDO, UNOMIG, UNWTO, UPU, WCO, WFTU, WHO, WIPO,
WMO, WTO

Diplomatic representation in the US:
chief of mission: Ambassador Aleksander SALLABANDA
chancery: 2100 S Street NW, Washington, DC 20008
telephone: [1] (202) 223-4942
FAX: [1] (202) 628-7342

Diplomatic representation from the US:
chief of mission: Ambassador Marcie B. RIES
embassy: Rruga e Elbasanit, Labinoti #103, Tirana
mailing address: US Department of State, 9510 Tirana Place, Dulles,
VA 20189-9510
telephone: [355] (4) 247285
FAX: [355] (4) 232222

Flag description:
red with a black two-headed eagle in the center

Economy Albania

Economy - overview:
Lagging behind its Balkan neighbors, Albania is making the
difficult transition to a more modern open-market economy. The
government has taken measures to curb violent crime and reduce the
large grey economy. The economy 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 about one-quarter 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 planned construction of
a new thermal power plant near Vlore and improved transmission and
distribution facilities eventually 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: growth was strong in 2003-06
and inflation is low and stable.

GDP (purchasing power parity):
$20.21 billion
note: Albania has a large gray economy that may be as large as 50%
of official GDP (2006 est.)

GDP (official exchange rate):
$9.306 billion (2006 est.)

GDP - real growth rate:
5% (2006 est.)

GDP - per capita (PPP):
$5,600 (2006 est.)

GDP - composition by sector:
agriculture: 23.3%
industry: 18.8%
services: 57.9% (2006 est.)

Labor force:
1.09 million (not including 352,000 emigrant workers) (2004 est.)

Labor force - by occupation:
agriculture: 58%
industry