Income from forward processing industry amount to 260m euro in 9-month period
Domestic business income grew steadily in the third quarter of the year.
According to data from the Bank of Albania, the Albanian economy in the third quarter gained a total of 112 million euro for processing services of goods ordered from abroad.
This figure represents a slight increase of approximately EUR 20 million over the same period a year earlier.
For the entire 9-month period, the total income from fossil fuels reached 260 million euros, up 8.3%.
Forward processing industry remains the main column where Albanian exports are based, with about 44% of total annual volumes.
Against the pessimism of a decade ago, forward processing business in recent years has experienced a new momentum and has resisted the crisis well.
This sector remains largely focused on the production of clothing and footwear from abroad but, in recent years, there is an expansion of the range of products produced in Albania due to low labor cost.
Forward processing industry has also entered other segments of the processing industry, such as the production of industrial equipment and instruments.
In total, the Albanian economy benefited around EUR 864 million from exported services during the 9-month period of 2017.
The bulk is made up of the forward processing industry and tourism, but also call center services or information technology for foreign companies.
SCAN
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