Albania: Financial openness
* indicates monthly or quarterly data series
| Albania |
Financial openness index |
|---|---|
| Latest value | -0.166 |
| Year | 2021 |
| Measure | index points |
| Data availability | 1995 - 2021 |
| Average | -0.365 |
| Min - Max | -1.242 - -0.166 |
| Source | Chinn-Ito Index |
The latest value from 2021 is -0.166 index points, an increase from -1.242 index points in 2020. In comparison, the world average is 0.322 index points, based on data from 176 countries. Historically, the average for Albania from 1995 to 2021 is -0.365 index points. The minimum value, -1.242 index points, was reached in 2006 while the maximum of -0.166 index points was recorded in 1995.
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Definition: The Chinn-Ito index measures a country's degree of capital account openness and was introduced in Chinn and Ito (Journal of Development Economics, 2006). It is based on variables that codify the restrictions on cross-border financial transactions in the IMF's Annual Report on Exchange Arrangements and Exchange Restrictions. Higher values mean greater financial openness.
Selected articles from our guide:
What factors determine the exchange rates
International lending and sovereign debt
All articles
| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Terms of trade | 103.72 | 2021 | percent |
| Trade openness | 84.54 | 2023 | percent |
| Financial openness | -0.166 | 2021 | index points |
| Exports, percent of GDP | 39.62 | 2023 | percent |
| Exports, billion dollars | 9.10 | 2023 | billion U.S. dollars |
| Growth of exports | 10.12 | 2023 | percent |
| Imports, percent of GDP | 44.91 | 2023 | percent |
| Imports, billion dollars | 10.32 | 2023 | billion U.S. dollars |
| Foreign Direct Investment, percent of GDP | 7.62 | 2022 | percent |
| Foreign Direct Investment, billion dollars | 1.44 | 2022 | billion U.S. dollars |
| Portfolio investment inflows, equities | -4.19 | 2023 | million dollars (current) |
| Current account, percent of GDP | -1.00 | 2023 | percent |
| Current account, in dollars | -0.20 | 2023 | billion U.S. dollars |
| Trade balance, percent of GDP | -10.36 | 2022 | percent |
| Trade balance, in dollars | -1.20 | 2023 | billion U.S. dollars |
| Reserves | 6.46 | 2023 | billion U.S. dollars |
| Remittances, percent of GDP | 8.57 | 2023 | percent |
| Remittances | 1,970.00 | 2023 | million U.S. dollars |
| Net errors and omissions | 67.64 | 2023 | million USD |
| External debt | 56.30 | 2022 | percent |
| Short-term external debt | 9.74 | 2022 | percent |
| Short-term debt to reserves | 19.33 | 2022 | percent |
| Foreign exchange reserves | 5.52 | 6/2024 | billion |