Footwear and Apparel Sector Generates €96mln on Q1

TIRANA, June 27

The footwear and apparel industry generated a revenue of Euro 96 million during the first quarter of 2017. According to the data provided by the Bank of Albania (BoA), revenues from processed goods destined for the international market reached the same level of the first quarter of 2016.
This sector is the main pillar of exports for the Albanian economy. It counts for three percent of the Gross Domestic Product of the country. Moreover, the export of processed goods from the footwear and clothing sector counts for four percent of the Gross Domestic Product.
The sector was revived during the last years and it resisted the crisis of the foreign market demand and competition from other countries.
The increase of the sector balanced the significant decrease of raw materials exports caused by the prices crisis during the recent years.
The services of active manufacturing focus on shoe making and clothing destined for the foreign market. However, the specter of goods produced in Albania increased because of the low-cost of the labor market.
According to the data provided by the Institute of Statistics confirm that about 30,000 people work in the footwear and clothing sector. However, entrepreneurs say that this figure is higher.

News Source: Scan TV