By Alice Mitchell, Export-USA.com Editor;
2009-02-10


Albania has passed through a rough crisis three years ago but its current GDL growth is satisfactory. The growth rate is estimated to be constant and it is primarily based on industry, transportation, and construction expansion. Albania is mostly an import-oriented economy due to the increase of prices for commodities. The lack of competitors on the Albanian market and the poor infrastructure encourages them to import most of the products and services.


Imports from the U.S. began to decline two years ago by 28.7 percent compared to 2006. The main products exported by American companies are machineries, optical instruments. These account for about 48 percent of the total imports from these sectors.
The advantage about the Albanian market is that there aren’t so many challenges for foreign investors and exporters.


Every sector in Albania is open for business. On the other side, even if a new business may be registered in eight days, closing it is quite costly.
The sectors that benefit more from foreign investment and achieve high growth rates are: agriculture, construction and industry.


The best prospects for export for the next years are offered in the following market sectors: transportation, energy, telecommunications, insurance, oil and gas, agro processing and services, and tourism and banking.
For instance, best prospects in the telecommunication services sector, which is a liberalized market in Albania, include: voice telephony, mobile telephony, rural telecommunication, internet service providers and computer hardware.


The IT market is growing and, with the privatization of Albtelecom, opportunities for American companies appear, as this sector is underdeveloped and could use better equipments and solutions for improvement. This includes primarily developing a high-speed bandwidth infrastructure for commercial use.


The travel and tourism sector also offers plenty of opportunities for U.S. exporters and investors, as they are planning to make more profit in this area by reconstructing hotels and building new ones. All in all, U.S. companies can find good prospects in Albania.


Disclaimer: This article is for informative purposes only and was comprised from various sources believed to be reliable. However, Export-USA does not make any warranty regarding the accuracy of the information in this article. Always check with a specialist and do your own research before engaging in international trade.