Falling Production Hits Albania’s Oil and Mining Revenues

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Albania extracted 716,000 tons of oil in 2024, marking a significant decline compared to the 891,000 tons produced the previous year. As a result, sales revenue from oil fell to 30 billion lek from 39 billion lek.

Another sharp decline was recorded in iron and steel production, which dropped to 343,000 tons from 474,000 tons in 2023, with sales revenue falling to 20 billion lek.

Chromium production also contracted, decreasing to 588,000 tons from over 822,000 tons a year earlier. Sales revenue from chromium was estimated at 15 billion lek, compared to more than 20 billion lek in 2023.

Meanwhile, the construction materials industry showed more stable results. Cement production reached nearly 1.94 million tons, a slight drop from 2023, while sales revenue remained almost unchanged at 19.2 billion lek. Ready-mix concrete production registered 1.7 million tons, with sales valued at over 13 billion lek.

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