TIRANA, April 9lbania’s trade balance for the first two months of the year showed a deficit of 47 billion ALL (477.4 million USD; 358.9 million EUR), 1.3% lower on the year, the National Statistics Institute, INSTAT, said on Thursday.
The country had a trade gap of 47.7 billion ALL in the first two months of 2008, 29% higher on the year, INSTAT said in a monthly report.
In February 2009 alone the country’s trade deficit was 25.88 billion leks, 7.0% higher on the year. Imports in the first two months of 2009 decreased by 4.4% from a year earlier to61.23 billiob ALL, while exports fell by 13.4% on the year to 14.15 billion ALL
European Union member states attracted 85.3% of Albania’s exports through February, while imports from the 27-nation bloc contributed 64.4% of the total. Italy and Greece were Albania’s main trading partners through February. A total of 26.4% of Albania’s imports originated in Italy and 16.8% came from Greece. Italy attracted 69.3% of Albania’s exports, while Greece accounted for 8.6%.
Textiles and footwear were Albania’s main export items with a share of 56.2% of the total through February. Construction materials and metals ranked second with a 12.2% share, followed by minerals and fuels with 10.6%.
The impoverished country imported mostly machines and spare parts, which made up 24.3% of all imports. Construction materials and metals ranked second with 17%.
Albania ended 2008 with a trade deficit of 327 billion ALL, up 17.3% from 2007.
TRADE BALANCE (in billions ALL):
2-mo’09 2-mo’08 February’09 February’08
Imports 61.23 64.04 33.39 33.00
Exports 14.15 16.34 7.51 8.83
Balance -47.08 -47.7 -25.88 -24.17
