The foreign trade of goods is declining. Data from the Institute of Statistics (INSTAT) shows that exports continued to decrease even in the month of August, resulting in fewer revenues for Albania. In the eighth month of the year, exports cost 27 billion Albanian lek, decreasing by 22% compared to the same period a year ago.

The deepening of the decline in August has worsened the overall performance for the eight-month period.

According to INSTAT, during this period, the exports of goods amounted to 300 billion Albanian lek, decreasing by 9% compared to the previous year.

This is the deepest monthly decline of this year and the strongest since 2020 when exporters suffered the most from the pandemic’s consequences.

All groups of goods have seen reductions, except for plastics and chemicals, which do not have significant weight in the economy.

Building materials, metals, footwear, as well as food and machinery are products that are causing difficulties in the local business chain.

It should be noted that over the past year, these businesses have raised concerns about the losses caused by the decline in the euro exchange rate.

In August, the countries with the largest decrease in exports from Albania were Italy, Austria, and the USA.

Meanwhile, the countries with the largest increase in exports were Kosovo, Greece, and the United Kingdom.