Trade Gap Figures show increases

TIRANA, Jan.26 – The National Statistics Institute (INSTAT) published trade data on Friday according to which Albania’s trade deficit expanded by 13.9percent compared to last year. In 2005 Albania’s trade deficit rose by 12.64 percent to 195.9 billion leks. For the first 10 months of 2006, both exports and imports rose bringing the CA balance to a deficit of 176.8 billion leks ($1.85 billion/1.43 billion euro). Exports through October were 17.4 percent higher than a year earlier, rising faster than imports for the first time in 2006. Imports increased by an annual 14.8 percent. Albania’s merchandise trade is carried out mostly with European Union member states especially Italy and Greece. EU trade accounted for 67 percent of in the first 10 months of last year. EU imports made up for 61.3 percent of Albania’s total imports in the 10 months through October last year. EU exports accounted for 88.3 percent of the exports in the period. Italian imports accounted for 27.8 percent of Albania’s total imports and exports to Italy contributed 72.1 percent of the country’s total exports. Textiles and footwear were on top of the list of Albanian exports through October 2006, representing 54.6 percent of total exports. Construction materials and metals, and food, drinks and tobacco followed as most exported goods, respectively, accounting for 16.7 percent and 7.8 percent of the total. Imported material were mostly machines, equipment and spare parts, totaling 20.2 percent of all imports through October. Food, drinks and tobacco products followed, with 18.2 percent of the total, and imports of metals and construction materials were the third biggest import item with a 16 percent share.