TIRANA, June 17
The apparel and footwear manufacturing industry have brought €123 million to the economy, in the first trimester of 2019. According to data from the Bank of Albania, the income from the services of the processing of goods, that came from abroad, were 15% higher compared to a year ago.
The apparel and footwear manufacturing industry is the base of the exports, where it takes 40% of the total annual exports. Besides processing and manufacturing the raw material imported from abroad for foreign brands, in recent years this industry is producing products ‘made in Albania’. This business has resisted the crisis and in the last decade has knocked out the predictions for a gradual decline.
Thanks to the geographical closeness with Western Europe, the experience gained in 25 years, but also to the low wages, the clothing and footwear manufacturing industry is not only surviving but thriving. According to data from the Institute of Statistics (INSTAT) in Albania, there are almost 130.000 factories that produce apparel and footwear products, mainly for foreign brands.
Another important branch of the manufacturing industry is the processing of seafood, especially of anchovy. Also, the textile industry in recent years has developed another branch, specifically that of electromotive.
In total, the economy has had a yield of €289 million from exported services in the first trimester. The majority of these exports are the clothing and footwear industry and tourism, as well the services that are not related to the processing of goods, like call center or IT services for foreign companies.
News Source/ Scan T.V.