A few practical Tips about Albania
Greetings in the first meeting are conservative and reserved. A handshake and direct eye contact are expected.
Business meetings are liable to be held anywhere.
Meeting schedules are not usually followed. They are normally later than scheduled.
Gift giving is expected.
The official language is Albanian.
Many Albanian businesspeople have a good command of English.
Overall, Albania’s prevailing religion is Islam, specifically Sunni Islam. In addition to Islam, Christianity is also practiced.
A Brief History
1912 – The country declared independence from the Ottoman Empire. There was a short-lived monarchy.
1939 - Conquered by Italy.
1943 - Germany occupied the country.
1944 - Communists took over country.
1945 - Allied itself with the Soviet Union.
1960 – 1978 – It allied itself with China.
Early 1990s – It ended communist rule and established a multiparty democracy.
1979 -1999 – The economy collapsed and there was civil disorder. UN peacekeepers intervened.
1999 - 450,000 ethnic Albanians fled from Kosovo to Albania to escape from the Serbs.
2009 - It joined NATO.
2014 - It became an official candidate for EU membership.
General Information
Location: Southeastern Europe bordering the Adriatic Sea and Ionian Sea between Greece to the south and Montenegro and Kosovo to the north
Government Type: Parliamentary republic
Capital City: Tirana
Literacy Rate: 99% (2022)
Size: Slightly smaller than Maryland
Population: 3.1 M
Population Growth Rate: 0.16% (2024 est.)
National Holidays – Albania celebrates several national holidays throughout the year, including both secular and religious observances.
January 1 - New Year’s Day
January 2 - New Year’s Holiday
March 14 - Summer Day
March 22 - Nevruz Day (Persian New Year)
March 31- Catholic Easter Sunday
April 1- Catholic Easter Monday
April 10 - Eid al-Adha
May 1- Labor Day
May 5 - Orthodox Easter Sunday
May 6 - Orthodox Easter Monday
June 16 - Eid al- Adha
June 17 - Eid al- Adha Holiday
September 5 - Saint Teresa Sanctification Day
November 21 – National Language Day
November 28 - Flag and Independence Day
November 29 - Liberation Day
December 8 - National Youth Day
December 9 - National Youth Day Holiday
December 25 - Christmas Day
The economy
Unemployment Rate: 11.63% (2022)
GDP: 18.9B (2022)
GDP Growth Rate: 4.86% (2022)
Labor Force: 1.405M (2022)
Labor Force Breakdown - NOT AVAILABLE
Major Industries: food, footwear, apparel and clothing, lumber, oil, cement, chemicals, mining, basic metals, hydropower
Agricultural Products: milk, corn, tomatoes, potatoes, watermelons, wheat, grapes, olives, cucumbers, onions
International Trade
Total Product Exports: $4.3B (2022)
Major Product Exports (2022): ferroalloys - $450M, footwear parts - $323M, electricity - $282M, crude petroleum - $280M, leather footwear - $267M
Major Export Partners (2022): Italy -$1.75B, Greece -$421M, Spain - $309B, Germany - $212M, China - $164M
Total Product Imports (2022): $6.89B
Major Product Imports (2022): refined petroleum - $331M, electricity - $218M, cars - $197M, raw iron bars - $182M, packaged medicine - $178M
Major Import Partners (2022): Italy - $1.74B, Turkey - $936M, Greece - $807M, China - $679M, Germany - $341M
English Language News Sites
Tirana Times - www.tiranatimes.com
Euronews Albania - https: //euronews.al/en
Sampling of Albanian companies
Kurom International – conglomerate - iron & steel, electricity, industrial gases etc. - Elbasan
Albpetrol - oil & gas exploration and production - Patos
Antea Cement - building materials and fixtures - Fushe Kruje
Albchrome - iron & steel - Tirana
Birra Korca – brewery - Korce
Taci Oil - oil & gas exploration and production - Tirana
MELCO - defense production - Tirana
Brunes - furniture manufacturing and retail - Tirana
Neptun Electronics - consumer electronics - Tirana
Balfin Group - conglomerate-retail, real estate, mining, energy and tourism - Tirana
Big Market - food retailer and wholesaler - Tirana
MEMA Company - construction contractor - Tirana
Delvina Gas Company - oil & gas exploration and production
By Paul Mastilak
InterMark3, Inc.
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