INSTAT: Trade gap up by 10% in Sept. 2011

TIRANA, Nov. 8 – Albania’s trade gap grew to 28.6 billion lek (USD 286 million) in September 2011, up 10.5 percent year-on-year but down 8.6 percent compared to August 2011. Data from the country’s Institute of Statistics (INSTAT) show Albania exported around 17 billion lek of goods in Sept. 2011, up 23.2 percent on the year and 26.3 percent compared to the previous month. Meanwhile, imports rose by 14.9 percent y-o-y to 45.6 billion lek, and were also 1.9 percent up compared to Aug. 2011.
The European Union remained Albania’s main trade partner even last August, accounting for 65.8 percent of Albania’s exports and imports. Italy was the top trade partner with 53.5 percent of total exports and 28 percent of imports followed by neighboring Greece with 5.1 percent of exports and 11.2 percent of imports.
INSTAT data show “textile and footwear products” remain on top of the export list with 49 billion lek, registering an increase of 17.6 percent year-on-year Second come “minerals, fuel and electricity” whose exports rose by 25 percent to 43.1 billion lek. Exports of “construction materials and metals” rank third with 32 billion lek compared to only 22.7 billion lek in the first nine months of 2010, registering a 41 percent increase.
Meanwhile, imports of machinery, equipment and spare parts,” top the import list, rising by 18.5 percent to 76 billion lek, up from 64 billion lek during the same period in 2011, a sign indicating that despite difficulties, businesses are still increasing investments in technology.
The “food, beverages and tobacco” group ranks second with 68.5 billion lek, up from 59.5 billion lek in the first nine months of 2010.
INSTAT data show total exports rose to around 147 billion lek during the first nine months of this year, up 23.3 percent y-o-y. Meanwhile, imports during the Jan-Sept. period rose to 392.6 billion lek, up 18.5 percent on the year.
Latest Bank of Albania data show Albanian exports during the first nine months of this year rose to 1.044 billion Euros up from 865 million Euros during the same period last year, registering a 20 percent increase.