The economy of Albania is poor-performing by Western European standards, but is making the difficult transition to a more open-market economy from its communist past.
Tirana is Albania's major industrial centre. It has experienced rapid growth and established many new industries since the 1920s. The principal industries include agricultural products and machinery, textiles, pharmaceuticals, and metal products.
Tirana has an overall cost of living index which equates it with low cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups. Tirana is currently ranked 241 overall, most expensive place in the world for expatriates to live, out of 282 international locations.
The cost of living overview for each of the 13 Basket Groups is as follows:
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