The communist governments policy of rapid industrialization, aimed at making the country as self-sufficient as possible, has led to the creation of a relatively modern multibranched industry.
That industry now generates more than half of the national income, with priority given to the exploitation of the country's considerable natural resources. Albania is the world's third largest producer of chromium. Electrification of the entire country was completed in 1971, and within two decades Albania was exporting electricity to several surrounding countries.
Albania processes most of its minerals domestically. Machinery and industrial equipment sufficient to outfit complete factories and plants are produced domestically, and the country has a well-developed engineering industry. Besides selling hydroelectricity abroad, Albania exports oil and petroleum products.
Despite this progress, Albania experiences difficulties in industrial production, particularly in the extraction of oil and the production of electricity. The exploitation of natural resources has been hampered by obsolete machinery and equipment, a lack of technical expertise, poor organization, and an inability to fully assimilate imported technology.
Also, because most state investment has gone into heavy industry, the economy is unable to meet the population's demands for various consumer goods.
The communist governments policy of rapid industrialization, aimed at making the country as self-sufficient as possible, has led to the creation of a relatively modern multibranched industry.
