Greece is still facing a destroying economic crisis that begun in 2007, causing negative effects in Greece’s neighboring countries, given that they were its most important trade partners.
Even the Albanian economy faced difficulties because of the Greek economic crisis, being forced to look for new destinations to export. According to a report of INSTAT which analyzes the economic performance of Albania during 2011-2013 period, Turkey was the preferred destination of Albanian producers for exporting. In the past five years, Turkey and Albania increased respectively exports towards each other, by intensifying so their trade exchanges.
Since in 2010, shows the report, the Albanian exports sent to Turkey five folded and are estimated to be about 50% of Turkey’s imports to Albania. The trend of trade exchanges between the two countries has been stable within the past years, according to the report.
Albania imports from Turkey raw material for nutrition and textile industries.
News source: Scan TV
Photo credits: Skat004 / Wikimedia