The opening of the economy increased foreign trade – For May trade deficit increased
The gradual opening of the economy has increased the country’s trade. Although foreign trade volumes remained significantly lower than last year, for May exports and imports increased compared to April. The resumption of trade has immediately led to an increase in the country’s trade deficit. Instat reports that the deficit for May reached ALL 23 billion, up 8% compared to April. For the first five months, Albania’s trade deficit reached ALL 137 billion, about ALL 20 billion less compared to the same period last year. A general decline in trade volume usually leads to a decrease in the deficit for Albania, precisely because of the significant volume advantage of imports over exports.
According to Instat, the value of exports reached ALL 21 billion, an increase of almost 44% compared to April. However, for the first five months of the year exports fell sharply, by 19% less compared to the same period last year.
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