Albania’s exports continue to outstrip pre-pandemic values

Albania’s exports continue to outstrip pre-pandemic values
By bne IntelliNews February 17, 2021

Albania reported a 3.1% year-on-year increase in exports in January, to ALL24bn (€192mn), while imports were up by 8.4% y/y at ALL45bn. 

The profile of exports has changed since the pandemic: the rise in construction materials and metals contributed 4.2 percentage points (pp) to the overall increase in exports, while food, beverages, tobacco contributed 2.2 pp and machinery, equipment spare parts 1.3 pp. 

On the other hand, there was a decrease in exports of textiles and footwear, contributing 2.0 pp, as well as falls in exports of minerals, fuels, electricity (1.7 pp) and wood manufactories and paper products (0.7 pp). 

Exports dropped sharply in annual terms from March 2020 when the pandemic spread across Europe, but exceeded the 2019 value in September, November and December as economies recovered. 

The trade deficit reached ALL22bn, up 14.7% compared with January 2020 but down 43.4% compared with December 2020.

There was a month-on-month increase in imports of 2.8% in January, but imports were down by 26.0% m/m.