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%.
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.
Albania GDP from 1980 to 2024
The total market value of goods and services produced annually in Albania.
Data Source: International Monetary Fund
Image Source: Freepik from www.flaticon.com
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 |
