Forward processing industry secured Albania 96 mln euro in the first quarter

The forward processing industry brought some 96 million euros to the Albanian economy in the first quarter of this year.

According to data from the Bank of Albania, revenue from forward processing services for foreign companies were of equal value to the first quarter last year.

The cheap labor remains the main pillar of exports for the Albanian economy.

Only from the forward processing sector, the country secures an annual income around 3% of the GDP, while including the export of other services this figure amounts to 7% of GDP.

Forward processing businesses have experienced a revival in recent years, resisting the foreign demand crisis, as well as competition from other countries.

The growth of the forward processing industry has compensated the sharp drop in exports of raw materials, during the crisis of prices in the past few years.

The inward processing services are concentrated mainly in the production of custom clothing and shoes from the abroad, but in recent years there has been a widening spectrum of products produced in Albania, due to the low cost of labor.

According to INSTAT, only the clothing and footwear sector has about 30 thousand employees, but, however, according to entrepreneurs, the real number of employees is much higher.

SCAN

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