Current Account Balance (As % of GDP) rose to -6.61% in Albania in 2019

Current Account Balance (As % of GDP) (%)
Economy | Albania | January 1, 2020
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Current account balance as a share of GDP reached -6.61 % in 2019 in Albania, according to the National Statistical Office. This is 6.81 % less than in the previous year.

Historically, current account balance as a share of GDP in Albania reached an all time high of 0.052 % in 1980 and an all time low of -7.10 % in 2018. When compared to Albania's main peers, current account balance as a share of GDP in Greece amounted to -0.447 %, -6.64 % in Kosovo, -1.65 % in Macedonia and -16.0 % in Montenegro in 2019.

Albania has been ranked 133rd within the group of 172 countries we follow in terms of current account balance as a share of GDP, 22 places above the position seen 10 years ago.

The current account is one of the two primary components of the balance of payments, the other being the capital account.

Current Account Balance (As % of GDP) Unit 2015 2016 2017 2018 2019 2020 2021 2022 2023
Albania % -0.075% -7.10% -6.61% -6.36% -6.32%
Bosnia and Herzegovina % -0.047% -5.95% -6.56% -5.82% -5.03%
Bulgaria % 0.032% 2.43% 1.57% 0.955% 0.457%
Croatia % 0.054% 2.70% 2.26% 1.72% 1.50%
Greece % -0.016% -0.765% -0.447% -0.330% -0.248%
Kosovo % -0.062% -7.17% -6.64% -6.63% -6.17%
Macedonia % -0.008% -1.05% -1.65% -2.05% -2.35%
Montenegro % -0.182% -16.8% -16.0% -11.8% -10.9%
Serbia % -0.056% -5.69% -5.58% -5.23% -5.05%
Turkey % -0.056% -5.70% -1.44% -1.80% -2.10%