mission: Ambassador Dr. Fatos TARIFA
FAX: [1] (202) 628-7342
telephone: [1] (202) 223-4942
chancery: 2100 S Street NW, Washington, DC 20008

Diplomatic representation from the US:
chief of mission: Ambassador Marcie B. RIES
embassy: Rruga Elbasanit, Labinoti #103, Tirana
mailing address: U. S. Department of State, 9510 Tirana Place,
Dulles, VA 20189-9510
telephone: [355] (4) 247285
FAX: [355] (4) 374957 and [355] (4) 232222

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

Economy Albania

Economy - overview:
Poor and backward by European standards, Albania is making the
difficult transition to a more modern open-market economy. The
government has taken measures to curb violent crime and to spur
economic activity and trade. The economy is bolstered by remittances
from abroad of $400-$600 million annually, mostly from Greece and
Italy; this helps offset the sizable trade deficit. Agriculture,
which accounts for one-half of GDP, is held back because of frequent
drought and the need to modernize equipment and consolidate small
plots of land. Severe energy shortages and antiquated and inadequate
infrastructure make it difficult to attract and sustain foreign
investment. The government plans to boost energy imports to relieve
the shortages and is moving slowly to improve the poor national road
and rail network, a long-standing barrier to sustained economic
growth.

GDP:
purchasing power parity - $16.13 billion (2003 est.)

GDP - real growth rate:
7% (2003 est.)

GDP - per capita:
purchasing power parity - $4,500 (2003 est.)

GDP - composition by sector:
agriculture: 47.5%
industry: 24.6%
services: 27.8% (2003 est.)

Investment (gross fixed):
18.7% of GDP (2003)

Population below poverty line:
30% (2001 est.)

Household income or consumption by percentage share:
lowest 10%: NA
highest 10%: NA

Inflation rate (consumer prices):
2.4% (2003)

Labor force:
1.35 million (not including 352,000 emigrant workers) (2003 est.)

Labor force - by occupation:
agriculture 57%, non-agricultural private sector 20%, public sector
23% (2003 est.)

Unemployment rate:
15.8% officially; may be as high as 30% (2003 est.)

Budget:
revenues: $1.36 billion
expenditures: $1.627 billion, including capital expenditures of $406
million (2003 est.)

Agriculture - products:
wheat, corn, potatoes, vegetables, frui