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    Albania Econom�a 2000

      Econom�a - descripci�n: An extremely poor country by European standards, Albania is making the difficult transition to a more open-market economy. The economy rebounded in 1993-95 after a severe depression accompanying the collapse of the previous centrally planned system in 1990 and 1991. However, a weakening of government resolve to maintain stabilization policies in the election year of 1996 contributed to renewal of inflationary pressures, spurred by the budget deficit which exceeded 12%. The collapse of financial pyramid schemes in early 1997 - which had attracted deposits from a substantial portion of Albania's population - triggered severe social unrest which led to more than 1,500 deaths, widespread destruction of property, and an 8% drop in GDP. The new government, installed in July 1997, has taken strong measures to restore public order and to revive economic activity and trade. The economy continues to be bolstered by remittances of some 20% of the labor force that works abroad, mostly in Greece and Italy. These remittances supplement GDP and help offset the large foreign trade deficit. Most agricultural land was privatized in 1992, substantially improving peasant incomes. In 1998, Albania recovered the 8% drop in GDP of 1997 and pushed ahead by 7% in 1999. International aid has helped defray the high costs of receiving and returning refugees from the Kosovo conflict.

      Producto Bruto Interno (PBI): purchasing power parity - $5.6 billion (1999 est.)

      PBI - Indice de Incremento real: 8% (1999 est.)

      PBI - por capital: purchasing power parity - $1,650 (1999 est.)

      PBI - Composici�n por Sector:
      agriculture: 54%
      industry: 25%
      services: 21% (1998)

      Poblaci�n bajo linea de pobertad: 19.6% (1996 est.)

      Ingreso en casa o porcentage de consumci�n:
      lowest 10%: NA%
      highest 10%: NA%

      Indice de Inflaci�n (precios del consumidor): 0.5% (1999 est.)

      Fuerza Laboral: 1.692 million (including 352,000 emigrant workers and 261,000 domestically unemployed) (1994 est.)

      Fuerza Laboral - por ocupaci�n: agriculture 49.5%, industry and services 50.5%

      Indice de desempleo: 14% (October 1997) officially, but may be as high as 28%

      Presupuesto:
      revenues: $393 million
      expenditures: $676 million, including capital expenditures of $NA (1997 est.)

      Industrias: food processing, textiles and clothing; lumber, oil, cement, chemicals, mining, basic metals, hydropower

      Industrial production growth rate: 7% (1999 est.)

      Electricidad - Producci�n: 5.15 billion kWh (1998)

      Electricidad - producci�n por fuente:
      fossil fuel: 2.91%
      hydro: 97.09%
      nuclear: 0%
      other: 0% (1998)

      Electricidad - consumci�n: 5.29 billion kWh (1998)

      Electricidad - exportaciones: 0 kWh (1998)

      Electricidad - importaciones: 500 million kWh (1998)

      Agricultura - productos: wheat, corn, potatoes, vegetables, fruits, sugar beets, grapes; meat, dairy products

      Exportaciones: $242 million (f.o.b., 1999 est.)

      Exporationes - comodidades: textiles and footwear; asphalt, metals and metallic ores, crude oil; vegetables, fruits, tobacco

      Exportaciones - socios: Italy 63%, Greece 12%, Germany 6%, Netherlands, Belgium, US (1998)

      Importaciones: $925 million (f.o.b., 1999 est.)

      Importaciones - comodidades: machinery and equipment, foodstuffs, textiles, chemicals

      Importaciones - socios: Italy 43%, Greece 29%, Turkey 4%, Germany 4%, Bulgaria, The Former Yugoslav Republic of Macedonia (1998)

      Deuda - externa: $820 million (1998)

      Ayuda economica - recipiente: EU pledged $100 million to share with The Former Yugoslav Republic of Macedonia (1999)

      Moneda: 1 lek (L) = 100 qintars

      Indice de intercambio: leke (L) per US$1 - 135.31 (December 1999), 137.69 (1999), 150.63 (1998), 148.93 (1997), 104.50 (1996), 92.70 (1995)

      A�o Fiscal: calendar year

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    Copyright © 2000 Photius Coutsoukis (all rights reserved)


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