I am heading to Albania to work in Tirana with FED Invest. Besides all preparation for the consulting assignment, I decided to compare Moldova economic performance with Albanian economic performance.
- Total population (2016) in Moldova was 3,55 million vs. Albania 2,87 million.
- Gross domestic Product (2016) in Moldova was 6,75 billion USD vs. 11,93 billion USD in Albania – 1,83 smaller.
- Moldovan GDP per capita is 2026 USD vs. Albanian GDP per capita of 11 423 USD) – 5.64 times smaller.
A few details bellow:
The Gross Domestic Product per capita in Albania was last recorded at 11424.63 US dollars in 2016, when adjusted by purchasing power parity (PPP). The GDP per Capita, in Albania, when adjusted by Purchasing Power Parity is equivalent to 64 percent of the world’s average. GDP per capita PPP in Albania averaged 6963.24 USD from 1990 until 2016, reaching an all time high of 11424.63 USD in 2016 and a record low of 3014.09 USD in 1992 (https://tradingeconomics.com/albania/gdp-per-capita-ppp)
In conclusion what Moldova shall do to increase GDP to Albanian 2016 level? What can we learn from Albanians? Can we export other products than we exported until know? Could we educated better and faster our human capital to export services not human labor?
Micro news from Artur Munteanu