Sun, 06 Dec 2020

Albania's exports drop 13.6 pct in first 9 months

Xinhua
20 Oct 2020, 02:18 GMT+10

TIRANA, Oct. 19 (Xinhua) -- In the first nine months of this year, the value of Albania's exports declined by 13.6 percent to 196 billion Albanian lek (1.86 billion U.S. dollars) compared with the same period of 2019, the Institute of Statistics (INSTAT) said in a report on Monday.

The main products that contributed to this decline were textiles and footwear (6.7 percentage points), minerals, fuels, electricity (3.7 percentage points) and construction materials and metals (2.8 percentage points).

In the same period, the value of the country's imports was 429 billion Albanian lek, down 10.9 percent year-on-year.

According to INSTAT, the main products that contributed to this decline were minerals, fuels, electricity (4.1 percentage points), textiles and footwear (2.5 percentage points), and machinery and equipment spare parts (2.0 percentage points).

Albania's trade deficit in the first nine months of 2020 was 234 billion Albanian lek, down 8.6 percent compared with the same period of 2019, the INSTAT report said.

In the first nine months of 2020, Albania's exports increased to Germany (8.9 percent), Serbia (7 percent) and France (13 percent), but decreased to Italy (18.4 percent) and Spain (16.2 percent).

The country's imports increased from Russia (26.1 percent), North Macedonia (2.6 percent) and the Netherlands (7.3 percent), and decreased from Italy (14.1 percent), Turkey (2.8 percent) and Greece (8.3 percent).

According to the local economic magazine Monitor, the decreases are all related to the economic crisis caused by the COVID-19 pandemic. (1 U.S. dollar = 104.85 Albanian lek)

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