How close is the Albanian economy to that of the EU? - OECD: Third in the region in terms of convergence. We lead in hydropower
Albania ranks third among the Western Balkan economies in terms of overall convergence with the European Union. Since 2014-2016, its overall score has declined, mainly due to a weak business climate, reflecting slower progress compared to the EU.
According to the Organization for Economic Co-operation and Development (OECD), Albania has an excellent performance in the Green Agenda group, exceeding even the European Union average in terms of low carbon emissions and high energy productivity. This performance is supported by its extensive renewable energy capacities, mainly hydropower, and its structure oriented towards a service economy, which is less energy intensive.
The Skills Cluster constitutes the second most advanced area of Albania’s convergence with the EU. However, it still ranks second to last in the region. The economy has made progress in increasing the employment rate, which has been the highest among the Western Balkan economies, as well as in improving the educational attainment of its workforce. However, performance remains weak in lifelong learning and public spending on scientific research.
For Albania, the business climate remains a challenge. In this regard, the OECD ranks Albania last in the region. Private investment and access to finance for businesses have weakened over time, while the high level of informal employment has damaged the overall business climate in Albania.
Our country also performs poorly in terms of digital transformation, ranking second to last in the region. Although the internet is widely used by Albanians and there is a high adoption of digital technologies by businesses, the digital skills of Albanians remain limited and there is a low use of online public services. Furthermore, the information and communication technology sector remains very underdeveloped compared to the European Union.
The OECD also rates Albania as a weak performer in the chapters related to infrastructure and connectivity. Infrastructure remains underdeveloped, the OECD says, both in terms of railway lines and limited road networks. However, the OECD highlights that with EU support, investments in infrastructure are increasing.
Montenegro is the country with the highest economic convergence with the European Union, followed by Serbia. Meanwhile, North Macedonia, Kosovo, Bosnia and Herzegovina rank behind Albania in terms of economic convergence with the EU.
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