Covid-19 cuts imports from China – In Albania they fell 27% in January, ‘burning’ millions of euros

The outbreak of the new coronavirus in China, Covid-19, in the early days of January prompted various countries in the world to take precautionary measures, paralyzing trade with a global superpower such as China is. This paralysis is also noticed at the level of imports in our country from China during January of this year. The decline is significant. During January imports fell to ALL 4.1 billion, from 5.2 billion of the previous month, down with 27%.

Compared to the same period last year, when imports stood at ALL 4.6 billion, the decline is fixed at about 12%. We are dealing with a decline in imports in annual terms by at least 4 million euros, and in monthly terms, around 9 million euros. The sudden decline in imports from China during the first month of this year seems to be a direct consequence of the outbreak of the virus in China.

Although the figures are still small, they signal that the consequences of this new threat could be quite severe in our economy. The closure of factories in China and the paralyzing of trade are expected to be felt more in February, as the outbreak of the virus in the places like Italy, our main trading partner, accounting for 33% of our trading volume, are expected to bring about a significant slowdown over the coming days and months, not just commercially.

SCAN

*Material i përgatitur nga portali SCAN. Ripublikimi mund të bëhet vetëm kundrejt citimit të autorësisë dhe burimit origjinal.