Albania faces shrinking workforce and record‑low lek as emigration rises

A new OECD‑backed report shows Albania’s working‑age population is contracting sharply. Between 2011 and 2023 the total population fell by about 430,000, and the share of residents aged 15‑64 is projected to drop by 18.3% since 2011. A 2023 survey found roughly 67% of people in the labour‑age bracket would consider emigrating if able, while the annual emigration rate reached 31.1%, the second highest in the Balkans and Turkey. The median age rose from 35.5 to 44.3 years, the share of those 65 or older grew by more than 21,000 in just one year, and the 15‑29 cohort shrank by over 18,000. Job vacancies rose 54% in 2023 to 61,000, yet unemployment remained at 9.4% in 2024, with long‑term unemployment at 6.6%. Training participation is low, with only 1.6% of those aged 25‑64 taking part in education or training in 2024.

At the same time, the Albanian lek weakened to a historic low of 93.78 per euro, its weakest level ever recorded. The euro’s value fell by 0.11 lek from the previous day and is down 3.04% year‑to‑date, a 31.5% drop compared with the 2015 average of 139.7 lek per euro. Seasonal tourist inflows and remittance patterns are driving the currency movement, harming exporters and the tourism sector while benefitting importers and reducing the state’s foreign‑currency debt service costs.