Investment climate and tax system in Albania 2013

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New developments of tax system during this year and the economic situation and rules about doing business in Albania.

The GDP of Albania in 2012 stood at a preliminary calculation at 1.3 trillion Leks (Euro 1 = 140 Leks). There have been outstanding changes in the composition of GDP by sector, with services replacing agriculture at 58 per cent, which in 2005 was recorded at 51 per cent, mainly due to the development of the tourism sector.

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Industry and services (excluding hotels and bars) has also seen an increase to 7.8 per cent in 2012, and transportation an increase to 8.4 per cent with the rest of the percentages shared between the construction and agriculture industries.

The country’s economy has had a decrease of growth indicators with an increase rate as 8.5 percent for the three years 2010-2012. Inflation rate has been within limits permitted by the Bank of Albania and during 2011 on average it was at the level of 2 percent.

Unemployment according to official statistics is at the level of 13.2 percent with a tendency to decrease as a result of employment promotion policies promoted by the government through increased investment in strategic sectors and creation of an encouraging climate for foreign investments, which are an indicator of increased confidence in Albanian market.

Foreign direct investments have a share of 8% of GDP in 2012.

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