Exports during the first eight months of this year are estimated at 923 million euros, compared to 765 million euros during the same period last year, registering an increase of 20 percent, according to the Bank of Albania
TIRANA, Sept. 26 – Albania’s trade gap grew to 31.3 billion lek (USD 313 million) in August 2011, up 4.6 percent compared to the previous month and up 2.4 percent compared to August 2010. Data from the country’s Institute of statistics (INSTAT) show Albania exported 13.4 billion lek of goods in August, up 38.2 percent on the year but down 24.7 percent compared to July 2011. Meanwhile, imports rose by 11 percent y-o-y to 44.7 billion lek, but were down 6.3 percent compared to the previous month. The European Union remained Albania’s main trade partner even last August, accounting for 63.1 percent of Albania’s exports and imports. Italy was the top trade partner with 45.5 percent of total exports and 30.8 percent of imports followed by neighboring Greece with 5.4 percent of exports and 10.6 percent of imports. INSTAT data show the exports list in January-August 2011 was topped by “textile and footwear products” which rose by 18 percent year-on-year reaching 43.4 billion lek. Second came “minerals, fuel and electricity” whose exports also rose by 20 percent to 37.8 billion lek, up from 31.5 billion lek in the first eight months of 2010. Exports of “construction materials and metals” rank third with 29 billion lek compared to only 19.6 billion lek in the first eight months of 2010, registering a 47 percent increase. Meanwhile, imports of machinery, equipment and spare parts,” which top the import list rose by 9 percent to 66 billion lek, up from 60 billion lek during the same period in 2011, a sign indicating that despite difficulties, businesses are still increasing investments in technology. INSTAT data show total exports rose to around 130 billion lek during the first eight months of this year, up 23.4 percent y-o-y. Meanwhile, imports during the Jan-July period rose to 347 billion lek, up 13.5 percent on the year. Latest Bank of Albania data published in Euro show exports in August 2011 continued growing for the second month in a row after shrinking in May and June. Exports during the first eight months of this year are estimated at 923 million euros, compared to 765 million euros during the same period last year, registering an increase of 20 percent. Exports in August 2011 registered 96 million euros, down from 127 million euros in the previous month and 71 million euros in August 2010, according to central bank data.
