Category: <span>Market and Trade</span>

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Fishing Industry Faces Bankruptcy  unless EU Increases Export Quotas
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Fishing Industry Faces Bankruptcy  unless EU Increases Export Quotas

TIRANA, October 27  The fish processing industry in Albania has seen a production increase during the last two years. The exports earnings by fish and fish products during the ninth month period were Lek 3.3 billion, while for the same period of 2015 they were 2.4 billion. But despite the progress, this industry is facing...

Water Industry is Flowing as Exports Increase
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Water Industry is Flowing as Exports Increase

TIRANA, October 25 Water seems to be the newest growing industry in terms of production and sales. The data are positive even regarding trade with the region and European countries. Information provided by official stats on exports for January-September 2016 confirms an increase of bottled water export. According to the data issued by the Ministry...

Oil Price is Up due to Relicensing Tax and Stock Market Rise
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Oil Price is Up due to Relicensing Tax and Stock Market Rise

TIRANA, October 21 Oil price in Albania is up Lek 5 per litre compared to a few days ago. At the gas stations of the largest operator in the oil retail and wholesale market, the pump price is Lek 167 per litre. Even the gasoline price is up Lek 5 and one litre is sold...

New Law Draws Harsh Reaction from Commerce Chambers
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New Law Draws Harsh Reaction from Commerce Chambers

TIRANA, September 30 Thursday’s decision of the Albanian Parliament for adopting the changes to the law on Commerce and Industry Chambers didn’t sit well with the commerce chambers in Albania. They harshly reacted by saying that such decision is a step backwards for democracy and it is against the principles applied by similar organizations in...

IMF approves next tranche of 35,9 million euros for Albania
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IMF approves next tranche of 35,9 million euros for Albania

IMF approves the next tranche of 35,9 million euros for Albania. Fund’s executive board in Washington has given approval for installment in the framework of the 8th program, reviewed with Albanian government, first signed about 3 years ago. So far, there have been disbursed about 298 million euros in total. But even though they have...

Association of Retailers Supports Decision for Internet Sales Tax
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Association of Retailers Supports Decision for Internet Sales Tax

TIRANA, August 17 The Trade Union of Albania (BTSH) association, which represents the interests of Albanian suppliers and retailers expressed on Tuesday its support for the government’s decision on lowering the threshold tax for online shopping and gifts sent from abroad to Euro 22. They say that the decision, which initially was proposed by the...

June 2016, the banking system activity amounted 1330 billion of ALL
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June 2016, the banking system activity amounted 1330 billion of ALL

TIRANA, August 9 The Albanian Banking Association (AAB) publishes financial data of commercial banks in the country for June 2016, which shows that total assets of the banking system amounted to 1330 billion ALL , with an annual increase of 1,3 %. The banking system remains liquid and stable, with a loan-to-deposit ratio to 54,3 % from...

Import Statistics Confirm Albanians Want More Coffee
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Import Statistics Confirm Albanians Want More Coffee

TIRANA, August 3 Albanians have a special love affair with coffee either espresso or Turkish and statistics show that it has grown stronger. The recent data issued by the General Directorate of Customs confirm that coffee import during January-May 2016 period increased significantly compared to the same period of the previous year. According to the...

Italy Reconfirmed Albania’s Largest Trade Partner
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Italy Reconfirmed Albania’s Largest Trade Partner

TIRANA, August 2 Italy remains Albania’s main foreign trade partner as it m 39.8 percent of the total volume of trade. This was confirmed by the report on foreign trade for June 2016 issued by the Institute of Statistics (INSTAT). According to the report, exports toward Italy increased by 28.5 percent compared to June 2015...

Albanian Currency (ALL)
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Albanian Currency (ALL)

The Albanian monetary unit is called “Lek” (Albanian Lek – ALL). The currency floats freely but is quite stable. Most boards exhibit the current exchange rate on the right side of the screen. On the rate boards in banks and exchange offices (kembim valuator) the initials ALL are sometimes used instead of the word “Lek”. Here you...