Diplomatic representation in the US: chief of 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)