Albania's GDP changed from approximately $1B 946M in 1980 to $25B 431M in 2024, showing an overall 1206.8% sharply increased during the period.
The lowest GDP was recorded in 1992 at $843M, and the highest in 2024 at $25B 431M.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 6.0%.
For comparison, the average annual growth rate of Serbia was 9.3%, and that of North Macedonia was 6.0%.
Albania GDP from 1980 to 2024
The total market value of goods and services produced annually in Albania.
Overview of Albania's GDP (1980–2024)
The Gross Domestic Product (GDP) of Albania recorded a 1206.8% sharply increased from 1980 to 2024.
The average GDP during this period was $7B 862M, and the median was $4B 348M.
GDP fluctuated within a range of $24B 588M, with a standard deviation of $6B 430M.
The average annual change was $448M 219K.
Highest and Lowest GDP Records
- Lowest GDP: 1992, $843M
- Highest GDP: 2024, $25B 431M
- Most Recent GDP: 2024, $25B 431M
Notable Annual GDP Changes
- 2023: Significant increase in GDP
- 2015: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and Albania's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $15B 399M → $15B 192M
- Outcome: declined
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $10B 677M → $12B 44M
- Outcome: sharply increased
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $3B 483M → $3B 928M
- Outcome: sharply increased
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $2B 259M → $2B 560M
- Outcome: sharply increased
Key Economic Indicators of Albania (1980–2024)
| year | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
1980 | $ 1B 946M | $ 728.36 | $ 2,155.43 | $ 5B 759M | 2.684 % | 0.054 % | 27.12 % | 0 % | 2M 672K people |
1981 | $ 2B 229M | $ 817.73 | $ 2,444.39 | $ 6B 664M | 5.7 % | -0.455 % | 39.85 % | 0 % | 2M 726K people |
1982 | $ 2B 296M | $ 824.54 | $ 2,614.86 | $ 7B 281M | 2.9 % | -2.264 % | 41.02 % | 0 % | 2M 784K people |
1983 | $ 2B 319M | $ 815.53 | $ 2,689.50 | $ 7B 649M | 1.1 % | -1.583 % | 44.48 % | 0 % | 2M 844K people |
1984 | $ 2B 290M | $ 788.33 | $ 2,783.12 | $ 8B 83M | 2 % | -1.316 % | 46.84 % | 0 % | 2M 904K people |
1985 | $ 2B 339M | $ 788.80 | $ 2,770.51 | $ 8B 214M | -1.5 % | -1.158 % | 40.83 % | 0 % | 2M 965K people |
1986 | $ 2B 587M | $ 855.72 | $ 2,927.42 | $ 8B 849M | 5.6 % | 0.057 % | 40.31 % | 0 % | 3M 23K people |
1987 | $ 2B 566M | $ 832.25 | $ 2,917.13 | $ 8B 995M | -0.8 % | 0.265 % | 42.44 % | 0 % | 3M 84K people |
1988 | $ 2B 530M | $ 805.05 | $ 2,922.07 | $ 9B 182M | -1.4 % | -0.986 % | 40.03 % | 0 % | 3M 142K people |
1989 | $ 2B 779M | $ 860.78 | $ 3,245.82 | $ 10B 477M | 9.8 % | -2.691 % | 38.06 % | 0 % | 3M 228K people |
1990 | $ 2B 221M | $ 675.74 | $ 2,976.52 | $ 9B 782M | -10 % | -4.313 % | 41.02 % | 0 % | 3M 287K people |
1991 | $ 1B 333M | $ 408.02 | $ 2,228.98 | $ 7B 282M | -28 % | -12.368 % | −8.03 % | 0 % | 3M 267K people |
1992 | $ 843M | $ 259.75 | $ 2,128.50 | $ 6B 911M | -7.2 % | -8.185 % | 9.43 % | 0 % | 3M 247K people |
1993 | $ 1B 461M | $ 452.62 | $ 2,402.75 | $ 7B 754M | 9.6 % | 1.674 % | 23.39 % | 0 % | 3M 227K people |
1994 | $ 2B 361M | $ 736.03 | $ 2,701.27 | $ 8B 664M | 9.4 % | -3.706 % | 21.83 % | 0 % | 3M 208K people |
1995 | $ 2B 882M | $ 903.99 | $ 3,021.96 | $ 9B 633M | 8.9 % | -1.968 % | 21.48 % | 0 % | 3M 188K people |
1996 | $ 3B 200M | $ 1,009.97 | $ 3,378.25 | $ 10B 702M | 9.1 % | -7.894 % | 16.07 % | 0 % | 3M 168K people |
1997 | $ 2B 259M | $ 717.38 | $ 3,080.30 | $ 9B 698M | -10.924 % | -13.047 % | 10.20 % | -6.424 % | 3M 148K people |
1998 | $ 2B 560M | $ 818.32 | $ 3,411.35 | $ 10B 673M | 8.829 % | -6.944 % | 16.23 % | -0.863 % | 3M 129K people |
1999 | $ 3B 209M | $ 1,032.26 | $ 3,930.41 | $ 12B 219M | 12.891 % | -1.946 % | 17.80 % | -1.129 % | 3M 109K people |