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 (54.1%), agriculture (21.7%), and industrial (24.2%) sectors. The country has some natural resources, and the economy is mainly bolstered by agriculture, food processing, lumber, oil, cement, chemicals, mining, basic metals, hydro power, tourism, textile industry, and petroleum extraction. 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 6.4 million tourists annually in 2019, tourism generates revenue in excess of $2.4 billion. History Following the collapse of the communist regime in 1990, Albania experienced a mass exodus of refugees to Italy and Greece. The country attempted to transition to autarky, which eventually succeeded. Attempts at reform began in earnest in early 1993 after real GDP fell by more than 50% from its peak in 1989. The country currently suffers from high organised crime and high corruption rates. The democratically elected government that assumed office in April 1992 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 1995, the government began privatising large state enterprises. After reaching a low point in the early 1990s, the economy slowly expanded again, reaching its 1989 level by the end of the decade. Macroeconomic trends This is a chart of Gross Domestic Product (GDP) of Albania in US dollars based on Purchasing Power Parity (PPP) from estimates by the International Monetary Fund. For purchasing power parity comparisons, the US dollar is exchanged at 49 leks (2007 estimate). Mean wages were $300.83 per month in 2009. Albania is a low-income country by Western European standards, with a GDP per capita lower than all countries in the EU. According to Eurostat, Albania's GDP per capita (expressed in