How much does each Albanian get from the "savings" of the economy? About 18% of what is produced in a year is not used for final consumption
According to World Bank data, Albania saves about 18.1% of its Gross Domestic Product. “Economic saving” is the portion of what a country produces that is not immediately spent on consumption. The World Bank calculates this amount by subtracting all final consumption expenditures from the economy’s total output, i.e. GDP. What remains is called gross domestic saving.
Referring to calculations, this figure translated into concrete value amounts to approximately 4.7 billion euros.
The figure of 18.1% reported by the World Bank is in line with calculations based on official INSTAT data. According to the latest data we have on the value of GDP in our country, the Albanian economy has produced around 26.2 billion euros, while around 21.5 billion euros have been used for final consumption. The difference between them amounts to around 4.7 billion euros, or 18%. This is what is called gross domestic saving in national accounts.
Simply put, out of every 100 euros that the Albanian economy produces, about 82 euros are spent, while about 18 euros remain outside final consumption. This is precisely the part that translates into a rate of 18.1%.
The figure becomes even more understandable when theoretically divided by population. In this case, it turns out that the Albanian economy saves an average of about 1,970 euros per inhabitant per year, or about 164 euros per inhabitant per month. Of course, this does not mean that every citizen actually has this money saved, but this is just one way to understand the weight of the amount at the national level.
If divided differently, it turns out that the Albanian economy saves about 12.8 million euros per day. So, in economic terms, every day an amount exceeding 12 million euros remains outside consumption. This makes the figure of 4.7 billion euros, which otherwise may seem abstract to the public, even more tangible.
The structure of the economy itself shows why this figure is of interest. Final consumption accounts for the vast majority of GDP, around 81.93%, which shows that the Albanian economy relies heavily on spending. On the other hand, the part that is not consumed immediately remains limited, but still considerable in absolute value.
Compared to other countries in the region, Albania ranks among the economies with a relatively high level of savings. With a rate of 18.1% of GDP, Albania stands above Bosnia and Herzegovina, which registers 11.1%, as well as above North Macedonia with 17.6%. It also leaves Montenegro and Kosovo behind by a significant margin, where the economy's savings are significantly lower, at 3.4% and 3.7%, respectively. However, Albania still remains below Serbia, which records the highest level in the region with 20.5%.
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