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Albania News

Albanian economy is considered as Trade Economy in transition. Albania's economy has improved substantially over recent years and has outperformed many other countries in the region. During 2004-2008, Albania experienced an average 6% annual GDP growth. Albania is rich in mineral resources, notably petroleum, natural gas, coal, bauxite, chromite, copper, iron ore, nickel, and salt. Albanias leading industries consist of Agricultural processing, oil, mining, textile manufacturing, clothing, lumber, cement, and chemicals. Iron and steel plants have been developed, and the country has several hydroelectric stations. Albania exports textiles and footwear, mined natural resources, foodstuffs, and tobacco and imports mostly machinery, other industrial products, and consumer goods. Albanias chief trading partners are Italy and Greece. Albania Government strategically planning to eradicate energy shortages.

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