Albania opens door to $1bn annual trade with China

Albania's trade with China is booming – and experts say it could be more than just a 'raw' deal.

In 2024, bilateral trade topped $1 billion for the first time, and it's showing no signs of slowing. In the first quarter of this year alone, trade volumes grew nearly 29 percent. Much of that surge is thanks to what lies beneath Albania's soil.

Deep in the rugged mountains of Bulqizë – a mineral-rich region in the country's northeast – trucks loaded with chromium ore wind their way to the coast. From ports like Durrës, they're shipped off to China, now a top buyer of Albania's minerals.

"Fish, chromium and copper – those are the pillars of our exports to China," says Athanasios Paloudis, former Director at the Bank of Tirana. "But make no mistake – it's the minerals that are doing the heavy lifting."

Chromium, especially, is a hot commodity. Its purity is considered among the best globally, making Albania a valuable supplier in China's expanding industrial ecosystem.

Nearly 40 percent of Albania's total exports are now mineral-based – a figure that highlights just how central this sector has become. But economists say there's a problem: while exports are soaring, investment is lagging.

"We hope for the investment," says Fatos Çoçoli, economist and former government advisor. "But unfortunately, it's not coming in at the scale we need. The interest is there – but it's up to our decision-makers to make both ends meet."

China does supply much of the machinery used in Albanian mines – but what's missing, experts argue, are joint ventures that would allow Albania to process and refine its minerals at home, rather than shipping them abroad in raw form.

Without a clear strategy to cut red tape and attract serious foreign investment, Albania risks losing out on long-term economic gains.

"We need to catch the last train," Çoçoli warns. "The Chinese are ready. The question is, are we?"

As global powers scramble for control of critical minerals, Albania may be sitting on a gold mine – or at least a chromium one. But unless policies shift and investment flows, the country may continue exporting its potential, one container at a time.