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The economy of Albania went through a process of transition from a centralized economy to a market-based economy on the principles of the free market. Albania's economy is based on the service The strongest sectors are energy , mining, metallurgy, agriculture, and tourism. Primary industrial exports are clothing and chrome. Tourism has been a notable source of national income, particularly during the summer months.
With over 6. Following the collapse of the communist regime in , Albania experienced a mass exodus of refugees to Italy and Greece. The country attempted to transition to autarky , which eventually succeeded. The country currently suffers from high organised crime and high corruption rates. The democratically elected government that assumed office in April launched an ambitious economic reform program to halt economic deterioration and put the country on the path toward a market economy.
Key elements included price and exchange system liberalisation , fiscal consolidation, monetary restraint, and a firm income policy. These were complemented by a comprehensive package of structural reforms including privatisation, enterprise, and financial sector reform, and the creation of the legal framework for a market economy and private sector activity. Most agriculture, state housing, and small industry were privatised. This trend continued with the privatisation of transport, services, and small and medium-sized enterprises.
In , the government began privatising large state enterprises. After reaching a low point in the early s, the economy slowly expanded again, reaching its level by the end of the decade.