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INSTAT: More Albania businesses are closing than opening

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3 mins read
8 years ago
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TIRANA, June 1 – More businesses have been closing down than starting in the past couple of years in Albania and it’s the formalization of dozens of thousands of farmers obtaining tax IDs that has kept the total number of active enterprises up, according to a report by state-run INSTAT statistical office. Data shows there were about 25,000 new businesses registered in 2017, but the total number of active enterprises rose by only 1,773 to 162,452 and that was mainly thanks to another 5,143 farmers obtaining tax IDs to sell their products and benefit VAT refunds. Albania had some 36,520…

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Story Highlights

  • Albania had some 36,520 farmers paying social security contributions and counted as active enterprises at the end of 2017, up from fewer than a thousand in 2004 and it’s the number of previously informal farmers that has mostly contributed to the hike in the total active businesses

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