Albania’s Exports Grew 18% in First Half of 2018

Albania’s Exports Grew 18% in First Half of 2018

TIRANA, July 18

Albania’s exports are continuing a double-digit export growth that helps to reduce the negative effects of the weak Euro against the Albanian Lek.
The Institute of Statistics (INSTAT) confirmed that during the first six months of 2018, Albanian companies exported nearly Lek 158 billion in commodities to foreign markets. These figures confirm an increase by 18.3 percent compared to the same period of 2017.
Moreover, the detailed data provided by INSTAT’s report confirm that the positive trend in exports was led by the mining sector, fuels, and electric power. Exports in this group of products increased by Lek 8 billion. In the meantime, an increase was noticed in the export of footwear and manufacturing, construction materials, and agricultural products.
Albanian companies that produce goods for export faced a disfavorable exchange rate given that most of the goods are sold in the European Union market. The value of the European currency declined by seven percent during the first half of 2018 thus, reflecting the same decline in the exports value.
However, the effect of the negative exchange rate was surpassed by the increased volume of exports to the EU.

News Source: INSTAT, TCh

Leave a Reply

Your email address will not be published.