Exports increased by 24% in May, not affected by euro depreciation

In recent months, entrepreneurs and their representatives have often complained that the depreciation of the euro at the exchange rate is endangering the exporting businesses operating in Albania.

But statistics show that Albanian exports are not at all dropping.

According to INSTAT, exports increased by 24% in May compared to the same period of the previous year and by 13% compared to April.

Export data are reported in Lek and also include the exchange rate effect, which obviously was not dramatic.

With a stronger euro the growth would have been higher, but however at this level the export performance is quite good.

During the first five months of the year, Albanian exports reached ALL 131 billion, an increase of 18.4%.

The highest increase compared to last year was recorded in the group “Minerals, fuels, energy”, with about 30%.

Growth came in particular from high exports of electricity, but also from an improvement in raw material exports.

High growth for the five-month period is also recorded by the group “Construction materials and metals”, with an increase of approximately 29%.

Exports of this group consist mainly of cement and steel.

The “Textiles and footwear” group continues to hold the main weight in exports and this year’s five-month increase was 10.5%.

The high export growth has improved the country’s trade balance.

The deficit for the five-month period fell to ALL 124 billion, from ALL 128 billion in the same period last year.

Significant impact on deficit reduction has also given very limited growth of imports.

SCAN

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