Albania continued to increase its imports and exports during the month of July, logging in the highest indexes in the past three years. The data confirmed the rush in movement and circulation that began after the peak of the pandemic that began since the start of the year.
The National Institute of Statistics (INSTAT) reported that during the month of July, Albania exported a total of 32 billion ALL (around €265 million euros) in goods and services and its imports reached around 72 billion ALL (or €595 million euros).
Compared to July 2020, there has been a rise of 30.6% in exports and 26.1% in imports. INSTAT also noted that this year’s data for the month of July are higher than those taken in 2019 and 2018, when the country wasn’t going through a pandemic.
Data of trade activity for July:
2021: 32 billion ALL in exports, 72 billion ALL in imports
2020: 25 billion ALL in exports, 57 billion ALL in imports
2019: 28 billion ALL in exports, 60 billion ALL in imports
2018: 27 billion ALL in exports, 58 billion ALL in imports
During July, exports saw a rise with countries like Italy (15.1%), Kosovo (17.9%) and Spain (44.1%) and they experienced a decline for goods and services from China (-15.7%).
As of imports, there was a rise with Italy (16.5%), Turkey (14.2%) and China (16.8%) and they saw a decline with Croatia (11.8%), Switzerland (27.4%) and Austria (12.2%).
Just like the indexes for July, the trade indexes for the past 7 months in our country have also been higher.
Trade indexes for the first 7 months of the year:
2021: 209 billion ALL exports, 426 billion ALL in imports
2020: 150 billion ALL exports, 328 billion ALL in imports
2019: 180 billion ALL exports, 377 billion ALL in imports
The categories that have seen the biggest rise in exports this year have been construction supplies (+13.2 percentage points) and natural resources (minerals, hydrocarbons, electricity +7.5 percentage points).
In turn, the import of machinery and replacement parts (+8.9 percentage points), construction materials (+4.8 percentage points) and plastic products (+4.4 percentage points).
Albania continues to have a non-proportional rapport between exports and imports, (trade deficit) which is mainly a result of our lack of production capacities. In the past 10 years, imports have been around 2-4 times higher than exports.
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