Good performance in exports does not curb Albania’s trade deficit: INSTAT

Albanian exports marked a positive performance during October.

According to the Institute of Statistics, exports in October increased by nearly 14% compared to the same month of 2016.

In ten months, Albanian exports reached ALL 225 billion, 13% higher than the 10-month period last year.

Textile and shoe group remains the main export column, accounting for 43% of the total value.

Exports of this group increased for October as well, at 13%.

Meanwhile, this year’s growth is also supported by the positive performance in the “construction materials and metals” group.

Exports of this group increased by 39% over the same period year-on-year.

The other important group accounting for the export performance in recent years “Minerals, fuels, and energy” is still not in the condition of a genuine rejuvenation.

Exports of this group for the 9-month period showed a slight increase year-on-year.

Meanwhile, imports grew at even higher rates than exports, resulting in the expansion of the country’s trade deficit.

For October, imports increased by 15% annually.

In ten months, Albania imported goods worth ALL 510 billion, up 8% year-on-year.

The growth in imports seems to be stable and spread across almost all the group, pushing the country’s trade deficit to rise.

For October, the trade deficit increased by 15%, while the 10-month deficit in freight exchange reached ALL 284 billion, up 3.3% compared to the same period of 2016.

SCAN

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