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Economy of Albania vs Saudi Arabia compared: GDP & Debt

Updated on by Georank team

Albania has a GDP of $27B compared to $1.24T for Saudi Arabia, ranking 112/197 and 18/197 by economy size, respectively.

Albania has $15.2B in government debt (56% of GDP), compared to $324B (26.2% of GDP) in Saudi Arabia.

Albania vs Saudi Arabia GDP by year

Albania
Saudi Arabia
1x
Year GDP, current $
Albania Saudi Arabia
2024 $27,046,429,297 $1,239,804,533,333
2023 $23,491,242,727 $1,218,584,533,333
2022 $19,017,247,014 $1,239,075,200,000
2021 $18,031,989,573 $982,661,066,667
2020 $15,241,458,745 $767,951,200,000
2019 $15,585,111,614 $888,890,133,333
2018 $15,379,508,330 $886,564,800,000
2017 $13,258,268,436 $741,266,133,333
2016 $11,988,668,785 $689,279,466,667
2015 $11,470,171,827 $693,414,400,000
2014 $13,296,322,588 $787,153,066,667
2013 $12,796,985,886 $769,755,733,333
2012 $12,246,499,748 $751,921,333,333
2011 $12,973,755,875 $680,660,800,000
2010 $12,086,545,641 $528,207,466,667
2009 $12,335,540,656 $429,097,866,667
2008 $13,258,506,375 $519,796,800,000
2007 $11,116,937,870 $415,964,509,673
2006 $9,150,528,132 $376,900,133,511
2005 $8,256,658,250 $328,459,608,764
2004 $7,406,645,793 $258,742,133,333
2003 $5,801,712,040 $215,807,733,333
2002 $4,515,003,117 $189,605,866,667
2001 $4,059,064,033 $184,137,600,000
2000 $3,584,570,165 $189,514,933,333
1999 $3,283,941,510 $161,717,066,667
1998 $2,600,356,999 $146,775,466,667
1997 $2,293,666,030 $165,963,684,913
1996 $3,234,486,232 $158,662,483,311
1995 $2,905,092,799 $143,343,124,166
1994 $1,880,950,864 $135,174,899,866
1993 $1,185,315,468 $132,967,957,276
1992 $652,174,991 $137,087,850,467
1991 $1,099,559,028 $132,223,230,975
1990 $2,028,553,750 $117,630,173,565
1989 $2,253,090,000 $95,344,459,279
1988 $2,051,236,250 $88,256,074,766
1987 $2,080,796,250 $85,695,861,148
1986 $2,097,326,250 $86,961,922,765
1985 $1,897,050,117 $103,897,846,494
1984 $1,857,337,995 $119,624,858,116
1983 $1,881,412,587 $129,171,635,311
1982 $1,861,163,170 $153,240,313,858
1981 $1,808,177,156 $184,291,360,139
1980 $1,578,102,105 $164,539,660,725
1979 - $111,858,444,786
1978 - $80,266,516,687
1977 - $74,188,986,586
1976 - $64,005,665,722
1975 - $46,773,208,643
1974 - $45,412,957,746
1973 - $14,947,435,499
1972 - $9,664,267,087
1971 - $7,184,806,909
1970 - $5,377,333,333
1969 - $4,485,777,644
1968 - $4,187,777,711
1967 - $3,257,022,223
1966 - $2,920,555,557
1965 - $2,647,955,558
1964 - $2,371,808,713
1963 - $2,207,393,172
1962 - $2,130,606,532
1961 - $1,920,811,284
1960 - $1,748,124,064

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/albania/saudi-arabia | CC BY

GDP per capita in Albania vs Saudi Arabia by year

Albania
GDP per capita

GDP per capita, PPP
Saudi Arabia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Albania Saudi Arabia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $11,378 $26,702 $35,122 $71,375
2023 $9,731 $24,822 $36,157 $71,565
2022 $7,757 $22,138 $38,510 $71,968
2021 $7,242 $18,213 $31,921 $62,690
2020 $6,028 $16,288 $24,339 $47,518
2019 $6,069 $16,442 $29,567 $59,560
2018 $5,898 $15,055 $29,360 $59,378
2017 $5,006 $14,111 $23,929 $53,120
2016 $4,458 $13,056 $22,268 $49,937
2015 $4,200 $12,387 $23,256 $53,931
2014 $4,794 $11,788 $27,805 $62,578
2013 $4,543 $10,882 $27,865 $62,203
2012 $4,281 $10,609 $28,733 $65,034
2011 $4,466 $10,273 $27,127 $64,125
2010 $4,149 $9,755 $22,028 $58,829
2009 $4,214 $9,031 $17,718 $54,787
2008 $4,499 $8,469 $22,320 $57,236
2007 $3,743 $7,585 $18,596 $55,030
2006 $3,058 $6,753 $17,564 $54,639
2005 $2,742 $6,014 $15,976 $53,548
2004 $2,447 $5,595 $13,154 $51,225
2003 $1,909 $5,169 $11,487 $48,078
2002 $1,480 $4,840 $10,586 $45,466
2001 $1,326 $4,451 $10,805 $47,381
2000 $1,160 $3,978 $11,715 $48,644
1999 $1,056 $3,549 $10,452 $47,495
1998 $831 $3,086 $9,836 $48,867
1997 $729 $2,760 $11,545 $48,796
1996 $1,021 $3,054 $11,472 $48,569
1995 $911 $2,777 $10,786 $48,052
1994 $586 $2,385 $10,602 $48,904
1993 $367 $2,143 $10,885 $49,503
1992 $200.9 $1,899 $11,730 $50,355
1991 $337 $1,989 $11,847 $49,295
1990 $617 $2,656 $11,055 $46,214
1989 $698 - $9,414 -
1988 $653 - $9,165 -
1987 $675 - $9,386 -
1986 $694 - $10,078 -
1985 $640 - $12,745 -
1984 $639 - $15,541 -
1983 $662 - $17,810 -
1982 $668 - $22,454 -
1981 $663 - $28,703 -
1980 $591 - $27,206 -
1979 - - $19,612 -
1978 - - $14,914 -
1977 - - $14,595 -
1976 - - $13,313 -
1975 - - $10,266 -
1974 - - $10,503 -
1973 - - $3,640 -
1972 - - $2,474 -
1971 - - $1,929 -
1970 - - $1,509 -
1969 - - $1,313 -
1968 - - $1,276 -
1967 - - $1,032 -
1966 - - $961 -
1965 - - $904 -
1964 - - $840 -
1963 - - $812 -
1962 - - $813 -
1961 - - $760 -
1960 - - $718 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/albania/saudi-arabia | CC BY

Albania's GDP per capita is $11,378, ranking 82/197, compared to $35,122 in Saudi Arabia, ranking 33/197. Adjusted for purchasing power (GDP per capita PPP), Albania ranks 79th at $26,702, while Saudi Arabia ranks 24th at $71,375.

Economic indicators

Albania Saudi Arabia
Gross domestic product
$27B
2024
$1.24T
2024
GDP rank
112/197
2024
18/197
2024
GDP growth
4.05%
2023-2024
2%
2023-2024
GDP per capita
$11,378
2024
$35,122
2024
GDP per capita rank
82/197
2024
33/197
2024
GDP per capita, PPP
$26,702
2024
$71,375
2024
GDP per capita PPP rank
79/197
2024
24/197
2024
Government debt
$15.2B
2024
$324B
2024
Debt-to-GDP ratio
56%
2024
26.2%
2024
Government debt per person
$6,375
2024
$9,185
2024
Government debt per person rank
72/185
2024
58/185
2024
Average annual personal income after taxes
$9,075
2026
$23,076
2026
Market capitalization of domestic companies n/a
$2.73T
2024
Number of millionaires n/a
351,855
2025
Number of billionaires
1
2025
15
2025
Income share by richest 10%
22.8%
2020
n/a
Income share by poorest 10%
3.4%
2020
n/a
Government expenditure, % of GDP
28.9%
2024
29.6%
2024
Consumer prices inflation
2.2%
2023-2024
1.69%
2023-2024
Central bank interest rate
2.5%
2025
4.25%
2025
Unemployment rate
10.7%
2023
3.52%
2024
Population
2342753
36734925

Spending and national debt comparison by year

Albania
Spending

Debt
Saudi Arabia
Spending

Debt
1x
Year % of GDP
Albania Saudi Arabia
Government spending Government debt Government spending Government debt
2024 28.9% 56% 29.6% 26.2%
2023 28.5% 58% 28.3% 23%
2022 30.3% 65.2% 25.3% 21.3%
2021 31.9% 74.8% 28.2% 25.5%
2020 32.4% 75.4% 37.4% 29.7%
2019 28.8% 66.6% 31.8% 20.3%
2018 28.7% 68.5% 32.4% 16.8%
2017 29.2% 71.9% 30.9% 15.9%
2016 29.1% 73.3% 33.3% 12.2%
2015 30.8% 73.7% 38.5% 5.47%
2014 31.7% 72% 38.6% 1.5%
2013 29.2% 70.4% 34.5% 2.08%
2012 28.2% 62.1% 32.5% 2.97%
2011 28.9% 59.4% 32.4% 5.31%
2010 29.4% 57.7% 33% 8.43%
2009 32.7% 59.7% 37.1% 14%
2008 31.7% 55.1% 26.7% 12.1%
2007 29.3% 53.6% 29.5% 17.1%
2006 29.2% 56.7% 27.3% 25.8%
2005 28.9% 58.2% 28.2% 37.3%
2004 30.2% 57.5% 31.1% 62.9%
2003 29.7% 60.2% 33.1% 81.6%
2002 31.5% 64.1% 35.9% 96.4%
2001 32.7% 60.6% 36.9% 93.1%
2000 33.8% 63.8% 33.1% 86.7%
1999 37.1% 68.2% 30.3% 103%
1998 36.8% 71.2% 34.5% 101.5%
1997 30.3% 72.2% 35.6% 76.7%
1996 - - 33.3% 75.2%
1995 - - 32.4% 74.2%
1994 - - 33.8% 67.9%
1993 - - 37.7% 58.6%
1992 - - 41.2% 47.8%
1991 - - 34.9% 39.4%
1990 - - 39.3% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/albania/saudi-arabia | CC BY

In 2024, Albania's government spending was $7.83B, accounting for 28.9% of its GDP, while Saudi Arabia spent $367B, or 29.6% of GDP.

Debt-to-GDP ratio is 56% in Albania and 26.2% in Saudi Arabia, ranking 94/185 and 163/185, respectively.

Government deficit by year

Deficit/surplus
Albania

Saudi Arabia
1x
Year Deficit/surplus, % of GDP
Albania Saudi Arabia
2024 -0.72% -2.49%
2023 -1.32% -1.77%
2022 -3.64% 2.24%
2021 -4.57% -1.99%
2020 -6.67% -10.2%
2019 -1.92% -3.96%
2018 -1.6% -5.21%
2017 -1.41% -8.57%
2016 -1.5% -13.2%
2015 -4.32% -14.9%
2014 -5.46% -3.4%
2013 -5.22% 5.47%
2012 -3.44% 11.7%
2011 -3.52% 11.4%
2010 -3.52% 4.39%
2009 -6.59% -5.38%
2008 -4.88% 29.8%
2007 -3.18% 11.8%
2006 -3.26% 20.8%
2005 -3.46% 18%
2004 -5.16% 9.72%
2003 -5.01% 1.2%
2002 -6.21% -5.91%
2001 -6.84% -3.91%
2000 -7.77% 3.18%
1999 -8.84% -5.99%
1998 -9.93% -8.88%
1997 -11.9% -2.51%
1996 - -3.25%
1995 - -5.12%
1994 - -8.31%
1993 - -9.33%
1992 - -8.12%
1991 - -3.28%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1991–2024, retrieved 2026-02-20).

GeoRank.org/economy/albania/saudi-arabia | CC BY

In 2024, Albania's government deficit, the difference between spending and revenue, was $196M, equivalent to 0.72% of GDP. This compares to Saudi Arabia's deficit of $30.9B, or 2.49% of GDP.

Over the past 28 years, Albania recorded a fiscal deficit in 28 of those years, while Saudi Arabia ran a deficit in 16 years. On average, Albania posted an annual deficit equal to 4.71% of GDP, compared to surplus of 1.12% of GDP for Saudi Arabia.

Inflation comparison by year

Inflation
Albania

Saudi Arabia
1x
Year Consumer prices inflation
Albania Saudi Arabia
2024 2.2% 1.69%
2023 4.8% 2.33%
2022 6.7% 2.47%
2021 2% 3.06%
2020 1.6% 3.37%
2019 1.4% -1.19%
2018 2% 2.47%
2017 2% -0.83%
2016 1.3% 2.05%
2015 1.9% 1.22%
2014 1.6% 2.24%
2013 1.9% 3.51%
2012 2% 2.87%
2011 3.4% 5.83%
2010 3.6% 5.34%
2009 2.2% 5.06%
2008 3.3% 9.87%
2007 3% 4.17%
2006 2.4% 2.21%
2005 2.4% 0.48%
2004 2.9% 0.52%
2003 2.4% 0.61%
2002 5.2% 0.25%
2001 3.1% -1.12%
2000 0% -1.12%
1999 0.4% -1.33%
1998 20.6% -0.37%
1997 33.2% 0.06%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/albania/saudi-arabia | CC BY

Over the past 28 years, Albania has recorded an average annual inflation rate of 4.27%, compared with 1.99% in Saudi Arabia. In 2024, inflation was 2.2% in Albania and 1.69% in Saudi Arabia.

Top exports between countries

Albania
Export category Export value
Raw materials & minerals $3.16M
Processed food, beverages & tobacco $215K
Chemicals & pharma $202K
Metals $106K
Textiles & consumer goods $87K
Raw agricultural goods $66K
Machinery & equipment $12K
Animal & marine products $2K
Precious metals & jewellery $1K
Saudi Arabia
Export category Export value
Raw materials & minerals $25.8M
Metals $13.1M
Chemicals & pharma $1.56M
Processed food, beverages & tobacco $946K
Raw agricultural goods $486K
Textiles & consumer goods $440K
Wood & paper products $147K
Animal & marine products $108K
Machinery & equipment $68K
Miscellaneous $5K

Balance of trade

Albania Saudi Arabia
Current account balance
-$648M
2024
-$16.3B
2024
Current account balance ranking
112/190
2024
180/190
2024
Current account balance, % of GDP
-2.4%
2024
-1.31%
2024
Goods imports
$7.87B
2024
$214B
2024
Goods exports
$1.82B
2024
$306B
2024
Service imports
$3.83B
2024
$125B
2024
Service exports
$8.03B
2024
$62.8B
2024
Imports of goods and services, % of GDP
43.2%
2024
25.6%
2024
Exports of goods and services, % of GDP
36.3%
2024
29.1%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Albania Saudi Arabia
Economic freedom 68 65.4
Economic freedom ranking 50/197 65/197
Property rights 57.6 51.4
Government integrity 41.9 52.7
Judicial effectiveness 59.9 38.2
Tax burden 89.3 99.2
Government spending 74.3 77
Fiscal health 88 97.9
Business freedom 76.6 71.2
Labor freedom 46.2 41.8
Monetary freedom 78.6 81.2
Trade freedom 83 73.8
Investment freedom 60 50
Financial freedom 60 50

Economic freedom comparison by year

Albania
Saudi Arabia
1x
Year Economic freedom index
Albania Saudi Arabia
2026 68 65.4
2025 66.6 64.4
2024 64.8 61.9
2023 65.3 58.3
2022 66.6 55.5
2021 65.2 66
2020 66.9 62.4
2019 66.5 60.7
2018 64.5 59.6
2017 64.4 64.4
2016 65.9 62.1
2015 65.7 62.1
2014 66.9 62.2
2013 65.2 60.6
2012 65.1 62.5
2011 64 66.2
2010 66 64.1
2009 63.7 64.3
2008 62.4 62.5
2007 61.4 60.9
2006 60.3 63
2005 57.8 63
2004 58.5 60.4
2003 56.8 63.2
2002 56.8 65.3
2001 56.6 62.2
2000 53.6 66.5
1999 53.4 65.5
1998 53.9 69.3
1997 54.8 68.7
1996 53.8 68.3
1995 49.7 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/albania/saudi-arabia | CC BY

The Economic Freedom Index for Albania is 68, ranking 50/197, compared to 65.4 for Saudi Arabia, ranking 65/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Albania Saudi Arabia
Services, % of GDP
48.7%
2024
47.1%
2024
Industry, % of GDP
22.4%
2024
44.9%
2024
Agriculture, forestry, and fishing, % of GDP
15.5%
2024
2.54%
2024
GNI, Atlas method
$23.6B
2024
$1.26T
2024
GNI per capita, PPP
$26,500
2024
$71,730
2024
Total reserves including gold
$6.52B
2024
$464B
2024
Total reserves ranking
89/177
2024
7/177
2024
Net foreign direct investment
-$1.45B
2024
$6.27B
2024
Net inflows of foreign direct investment
$1.71B
2024
$21.3B
2024
Net outflows of foreign direct investment
$261M
2024
$27.6B
2024
Servicing debt to the IMF, % of GNI
3.25%
2024
n/a
Poverty at national poverty lines
19.7%
2022
n/a
Gross capital formation, % of GDP
25%
2024
30.2%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/albania/saudi-arabia | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2021–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.