Deepened commercial deficit in first nine months of 2007

TIRANA, Nov. 24 – The central Bank of Albania reported that the commercial foreign deficit increased significantly during the first nine months of this year.
But the influx of capital in the current deficit has managed to keep a positive general balance of 172.7 million Euros, according to a bank statement. There was also a significant increase of exports and imports during this period, which resulted in a deeper balance deficit.
Current transactions during this period were estimated at 6.2 billion euro, or 21 percent higher than the same period last year.
The commercial deficit was estimated at 579 million euro, or 48 percent higher than the same period last year.
Commerce in goods is the basis of the country’s exchange, 2.7 billion Euros or 43 percent of the total volume.
Imports were 2.1 billion Euros, or 423 million more than the same period last year. Revenues from exports were estimated at 589 million euro or 125 million euro more than the same period last year.
The bank said that during this period Albania marked the greatest commercial deficit with 1.5 billion Euros, or 25 percent more than the same period in 2006.