Half of new firms are in trade, hospitality and construction

Nearly half of Albania’s new businesses are in trade, hospitality and construction, an OECD report says.

The three sectors account for 47% of new companies. They also provide more than half of jobs and almost two-thirds of turnover among small and medium-sized firms.

Manufacturing provides only 17% of jobs and 11% of turnover, despite its larger role in exports and higher-value production.

Only 2.6% of small and medium-sized firms export goods. Importers outnumber exporters by more than four to one.

The OECD says electronic invoicing is widespread, but investment in technology that raises productivity and exports remains limited.