Albania’s current account gap in 2008 was 1.3 billion euro, equivalent to 15.2% of the country's gross domestic product (GDP), versus 831 million euro deficit, or 10.5% of GDP, in 2007.
ALBANIA BALANCE OF PAYMENTS (in millions of euro):
H1'09 | H1'08 | Q2'09 | 2008 | |
CURRENT ACCOUNT BALANCE | -681.3 | -630.8 | -359.8 | -1,318.8 |
-Trade balance | -1,083.8 | -1,088.6 | -567.4 | -2,431.5 |
- Services | -39.8 | -21.2 | -18.4 | +69.5 |
- Net income | -14.9 | +3.1 | -10.6 | +106.4 |
- Current transfers | +455.4 | +476.0 | +236.6 | +963.8 |
CAPITAL ACCOUNT | +35.8 | +30.6 | +16.2 | +78.2 |
FINANCIAL ACCOUNT | +674.4 | +508.9 | +417.5 | +1,454.6 |
Direct Investments | +424.1 | +193.4 | +301.8 | +590.5 |
Total Balance | +10.7 | -17.1 | +141.6 | +191.9 |
Albania’s economy grew by a real 7.2% last year, faster than the 6.1% growth target and the 6.0% rise recorded in 2007. The government has projected nominal GDP growth of 6.3% to 1.18 trillion leks ($11.9 billion/9.0 billion euro) this year.
($=0.6806 euro)