The Experts Club analytical center analyzed Albania’s economy for the first 10 months of 2025 and presented its analysis and forecast. Based on the results of the first ten months of 2025, Albania continues to have one of the highest growth rates in Europe, with low inflation, stable currency reserves, and continued growth in tourism, but it faces a slowdown in industrial output and an expanding trade deficit.
According to IMF mission estimates and national statistics, Albania’s real GDP grew by approximately 3.4–3.6% year-on-year in the first half of 2025, which is comparable to 2024 figures and above the European average. The main drivers of growth remain the service sector, construction, and tourism: foreign tourists alone spent around €2.1 billion in the country in the first six months, which is 7–8% more than a year earlier.
International institutions expect the economy to grow by around 3.4-3.7% by the end of the year: after its autumn mission, the IMF raised its forecast to 3.5% for 2025, while the World Bank and the EBRD also expect growth of over 3%.
Inflation in the country remains low and close to the target level. According to the IMF and national statistics, annual consumer price inflation in 2025 is around 2–2.3%.
The labor market situation is improving moderately. The unemployment rate in the second quarter of 2025 fell to 8.5%, which is significantly below the historical average (around 14%).
Industry remains the most vulnerable sector. According to estimates by research centers and statistics, industrial production in Albania in the first quarter of 2025 declined by approximately 2.1% compared to the same period in 2024, while in the second quarter the decline slowed to around 0.5%. Manufacturing output in June 2025 was 0.9% lower than a year ago. This reflects the problems of traditional export industries, primarily textiles and clothing, which are under pressure due to the strengthening of the national currency and demographic outflow.
The external sector remains a weak spot in the macroeconomy. According to Albanian think tanks and INSTAT, the trade deficit in goods widened to about 25.3% of GDP in the first half of 2025, despite high tourism revenues. Remittances from migrants grew by about 5% to €1.2 billion, remaining an important source of external revenue, while foreign direct investment stabilized at around €1.1 billion over the same period.
At the same time, external stability appears comfortable. According to Trading Economics, Albania’s international reserves reached $7.3 billion in September 2025. In its final Article IV statement, the IMF explicitly notes “strong reserves, declining public debt, and one of the highest growth rates in Europe” as a basis for further reforms and deeper integration with the EU.
China is deploying a large fleet of civilian cargo ships and ferries in exercises off its coast, rehearsing scenarios for a possible landing in Taiwan, according to a Reuters investigation based on satellite images and ship tracking data.
According to Reuters, in the summer of 2025, at least 12 civilian vessels — six car ferries and six deck cargo ships — took part in landing maneuvers on a beach near the town of Jieshen in Guangdong province. Satellite images captured the unloading of hundreds of military vehicles directly on the coast via ramps, without the use of port infrastructure.
Experts interviewed by the agency note that the civilian fleet could be a key element in a possible operation against Taiwan: according to current estimates, the PLA Navy and Marine Corps currently have enough of their own landing ships and boats to transport approximately 20,000 troops with equipment. The investigation indicates that the use of civilian vessels is part of a broader “shadow fleet” strategy, which allows the PRC to dramatically increase its landing and transport capabilities while simultaneously complicating the situation for the US Navy.
The investigation indicates that the use of civilian vessels is part of a broader “shadow fleet” strategy that allows the PRC to dramatically increase its landing and transport capabilities while making it more difficult for intelligence to assess the scale of preparations. According to Reuters, more than 100 civilian vessels have been tracked that are involved in military exercises or belong to companies that regularly participate in such maneuvers.
The article cites assessments by former Taiwanese Armed Forces Commander Li Shimin and other military experts who call the rehearsal of landings involving the civilian fleet a “significant step” toward the formation of real invasion plans. At the same time, Taiwanese officials point to the vulnerability of such ships to anti-ship and portable missiles and view the demonstrative exercises as part of a “cognitive war” aimed at putting psychological pressure on Taipei and its partners.
Reuters emphasizes that, despite the build-up of capabilities, it remains unclear whether the PLA is ready for a real amphibious operation across the Taiwan Strait: the scale of the invasion is difficult to conceal, and weather conditions, the island’s coastal terrain, and the potential response of the US and its allies make such a scenario extremely risky.
Reference from Experts Club: Comparison of the military capabilities of China and Taiwan (estimates for 2025)
According to open estimates (GlobalFirepower, Taiwan Ministry of Defense, budget data): Number of active military personnel
China: approximately 2.0–2.1 million (active PLA personnel).
Taiwan: nearly 230,000.
Ratio: approximately 8–9 to 1 in favor of China.
Reserves and mobilization resources
China: approximately 510,000 reservists + large paramilitary formations.
Taiwan: approximately 2.3 million reservists with a significantly smaller population, relying on mass reserves.
Air Force (general aviation)
China: about 3,300 aircraft, including about 1,200 fighters.
Taiwan: about 760 aircraft, about 280–300 fighters.
Fighter ratio: about 4–5 to 1 in favor of China.
Navy (combat ships)
China: about 750 ships and boats, including 3 aircraft carriers, dozens of destroyers and frigates, and over 60 submarines.
Taiwan: about 100 ships and boats, no aircraft carriers, with a limited number of destroyers, frigates, and submarines.
Ratio of fleet units: approximately 7–8 to 1 in favor of China, with an even more significant gap in total tonnage.
Defense budgets (2025)
China: approximately $245–270 billion per year according to official data.
Taiwan: approximately $20–21 billion (about 2.45% of GDP).
Ratio: China spends more than 10 times more on defense than Taiwan.
These figures are estimates based on open sources, but they generally reflect China’s significant quantitative advantage, while Taiwan focuses on technological saturation, defense doctrines, and alliances with the US and other partners.
Source: https://expertsclub.eu/kytaj-zadiyuye-czyvilni-sudna-v-navchannyah-po-tajvanyu-zmi/
A talent visa is a special residence and work permit designed to attract foreign professionals with exceptional skills or achievements. It is used by countries to strengthen their scientific, cultural, technological, sporting, or business sectors. In the context of growing competition for talent and capital, such programs are becoming part of economic and innovation promotion strategies, helping countries become “talent magnets.”
Professionals in science, technology, business, education, or sports, entrepreneurs and start-ups, investors with a plan to create jobs, as well as creative professionals — artists, musicians, actors, designers, and fashion designers — can apply for a talent visa. Often, graduates of prestigious universities, students with outstanding academic achievements, and public figures fall into the “talent” category. Higher education is not always required: it is more important to have evidence of achievements — publications, participation in conferences, mentions in the media, and letters of recommendation.
In different countries, the visa program for talents has its own name and different requirements. In the US, it is called O-1A or O-1B and is intended for people recognized in the arts, sciences, sports, business, or cinema. The visa is issued for three years with the possibility of extension, and approval is given by the US Citizenship and Immigration Services.
France has a Passeport Talent program that covers investors, professionals, artists, scientists, and athletes. Recently, the income requirements have been reduced to €39,500 per year. Those who have obtained a visa can live and work in France with their families for up to four years, with the possibility of extension.
The UK offers a Global Talent Visa, which allows you to live for up to five years, bring family members, and does not require a high level of English. Confirmation of merit by a relevant British organization is required. Germany has a pan-European program called the Blue Card, which is designed for highly skilled professionals from countries outside the European Union with a university degree or at least three years of work experience and an invitation from a German employer.
Canada uses the Global Talent Stream program, which is aimed at specialists in critical technology sectors. Candidates must have a job offer from a Canadian company and confirm their qualifications. In Australia, a similar program is called the National Innovation Visa. It is aimed at attracting foreigners with outstanding abilities, but the visa application process is long and expensive.
In New Zealand, the talent visa is intended for representatives of the arts, culture, and sports. It is valid for up to 30 months, after which you can apply for a residence permit. In Thailand, the talent visa is part of the Smart Visa program, designed for professionals in science and technology. A minimum one-year contract with an income of at least 100,000 baht per month is required.
The United Arab Emirates has a Golden Visa program that provides professionals, artists, medical professionals, and investors with a five- or ten-year residence permit. Hong Kong has a Top Talent Pass Scheme program designed for wealthy professionals or graduates of prestigious universities. In China, high-level specialists can obtain an R visa for up to ten years. Malaysia has a Residence Pass Talent program for skilled workers with at least five years of experience.
In September 2025, South Korea launched a new K-Star program for leading global experts in science and technology. It provides a fast track to permanent residence and will be fully operational in 2026.
Serbia also has a simplified talent visa option. To obtain it, you only need to confirm your diploma, pay a fee of about €95, and wait up to 90 days. The visa is issued for one year with the possibility of extension and subsequent transition to permanent residence. Language skills are not required.
Experts note that such programs have become a strategic tool for attracting knowledge and capital. Each of them is part of the formula “talent – innovation – economic growth.” Despite similar goals, the requirements vary significantly: in some cases, the process is strict and multi-stage, while in others, it is a fairly simple procedure for confirming competencies. The successful implementation of such programs strengthens the country’s reputation as a center of attraction for talent and investment.
However, it is important to remember the risks. Without transparent selection and integration mechanisms, such visas can become a burden on social and migration systems rather than a driver of development. For Ukraine, such initiatives open up opportunities for professional growth and entry into global markets, and for host countries, they are a way to strengthen their innovative potential.
Overall, Experts Club experts believe that the future of the global economy largely depends on how effectively countries can compete for human capital. Talent visa programs are becoming one of the main tools in this new “battle for minds.”
Citizens of Ukraine and Russia are among the top ten foreign buyers of housing in Bulgaria in 2024–2025, according to a study by the Experts Club analytical center and data from the Bulgarian Real Estate Association.
According to the study, the top 10 countries whose citizens are most active in buying real estate in Bulgaria are: Great Britain, Germany, Greece, Israel, Romania, Turkey, Italy, Russia, Ukraine, and Poland.
Foreigners account for a significant share of transactions in the housing market. According to one international analytical resource, the number of foreign buyers of residential real estate in Bulgaria in 2024-2025 has increased by approximately 18%, and the overall market is showing steady price growth. According to local experts, the percentage of foreigners in some coastal projects may reach 30% of the total number of buyers.
Foreign buyers are most interested in properties on the Black Sea coast – in Varna, Burgas, and Nessebar – as well as in the mountain resorts of Bansko and Pamporovo, where real estate is considered both for personal use and as an investment for rental.
Analysts note that Ukrainians have firmly established themselves in the top 10 due to a combination of relocation and investment demand: some buyers view Bulgaria as a safe EU jurisdiction during the war, while others see it as an opportunity to earn income from renting out property in tourist regions.
The growth in foreign demand is supporting price increases: over the past year, the cost of housing in Bulgarian seaside resorts has risen by an average of 8-10%, and in Sofia by 7-10%.
At the same time, according to estimates by the European Commission and a number of analytical reviews, housing in Bulgaria in 2025 is overvalued by approximately 10-15% relative to fundamental indicators, but experts are not yet talking about a critical “bubble” in the market.
In the next 2–3 years, Experts Club analysts expect foreigners to keep showing interest in Bulgarian real estate, but with a change in the demand structure: they estimate that the share of buyers from the EU, Ukraine, and Israel will grow, while the role of Russian buyers in new deals may continue to decline amid sanctions and capital movement restrictions.
According to data from the National Statistical Institute of Bulgaria and international reviews, in the second half of 2024, housing prices in the country rose by 15% year-on-year and by 87% compared to 2015. At the same time, the average price per square meter in the country remains significantly lower than in most EU countries, making Bulgaria one of the most affordable real estate markets in the Union for foreign investors.
Russian citizens traditionally account for a significant share of owners, especially on the coast. According to Bulgarian sources, in the Burgas region alone, more than 5,200 properties owned by Russians are officially registered, while across the country as a whole, there are several tens of thousands of properties. At the same time, in recent years, the share of new purchases by Russians has been declining, and some of the properties are being put on the market and bought by Bulgarian and Western European buyers.
Source: https://expertsclub.eu/rynok-zhytla-bolgariyi-analiz-vid-experts-club/
India imported $14.72 billion worth of gold in October 2025, according to data from the country’s Ministry of Commerce and Industry. This is three times more than in October last year, 1.5 times more than in September this year, and is set to be a historic record (last year, a slightly higher figure was reported in November, but it was later revised).
“The growth in gold imports in October was phenomenal, despite very high world prices,” said Indian Deputy Minister of Commerce and Industry Rajesh Agrawal, according to The Hindu. “The growth in silver was also phenomenal.” Silver imports increased 6.3 times, to $2.72 billion.
“The continuous rise in gold prices ahead of the festive season could have led to speculative demand, which may not be sustained in the future, possibly leading to some decline in imports in the coming months,” warns Aditi Nayar of Indian rating agency ICRA.
In just 10 months of 2025, India imported $50.74 billion worth of gold, up 17% from the same period last year (October’s results reversed the trend).
India is one of the world’s largest consumers of gold, producing virtually none itself.
Earlier, the Experts Club analytical center presented an analysis of the world’s leading gold-producing countries in its video on YouTube channel — https://youtube.com/shorts/DWbzJ1e2tJc?si=YuRnDiu7jtfUPBR9
According to the Food and Agriculture Organization of the United Nations (FAO) and the United States Department of Agriculture (USDA), global wheat production in 2025 is forecast to reach around 809.7 million tons, which is 1.3% higher than in 2024.
The growth is expected to be driven by increased yields in Canada, Kazakhstan, China, and India, while southern Europe and North Africa remain at risk of lower production due to drought.
“The outlook for the global wheat market remains generally positive, and global stocks at the end of the season will remain stable despite active exports from the Black Sea region,” the FAO Cereal Supply and Demand Brief notes in its October review.
Top 20 countries in the world by wheat production in 2025 (FAO and USDA estimates)
These twenty countries produce more than 90% of the world’s wheat.
Despite overall growth in yields, global wheat stocks could decline by 1.6% to around 312 million tons by the end of 2025. This is due to increased domestic consumption in Asia and the Middle East, as well as active exports from Russia, Ukraine, and Australia.
Average global wheat prices remain volatile, but FAO analysts predict their relative stabilization while maintaining harvest and stock volumes.
Despite the war, Ukraine retains its status as one of the largest grain exporters. According to estimates by the Ministry of Agrarian Policy, in the 2024–2025 marketing year, the country exported about 15 million tons of wheat, supplying it to Egypt, Indonesia, Spain, Turkey, and Tunisia.
Ukraine ranks 11th–12th in the world in wheat production and is among the top five global exporters thanks to its high yields and logistics routes through the Danube and Baltic ports.
A detailed overview of the world’s major wheat producers from 1970 to 2024 can be found in the Experts Club analytical video: Watch on YouTube
