Italy, Turkey top destinations for Albanian exports

TIRANA, August 1 – Exports to Italy and Turkey registered a significant increase during the first half of this year, ranking the two countries the most important destinations for Albanian exports. INSTAT data show exports to Italy rose by 21.5 percent to 51.3 billion lek in the first six months of this year. The majority of Albanian exports to Italy are garment and footwear products.
Meanwhile, exports to Turkey have doubled during this year, making it the second most important destination for Albanian exports. INSTAT data show exports to Turkey in January-June 2011 doubled to 8.3 billion lek, up from 4.1 billion lek during the same period last year.
Turkey is one of Albania’s main trade partners for the export of metal products, which account for 90 percent of total exports to Turkey.
Albania’s trade deficit in June 2011 was at 30 billion lek (USD 300 million), down only 0.1 percent compared to last May, but up 23.5 percent compared to June 2010. The situation is a result of slowdown in exports and a moderate increase in imports. Institute of Statistics data show exports in June 2011 reached 16.6 billion lek (166 million dollars), up 2.1 percent compared to last May and only 0.2 percent year-on-year. Meanwhile, imports rose to 46.6 billion lek, up 0.7 percent compared to the previous month and 14.1 percent compared to June 2010.