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

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Albania Exported €5.7mln Worth of Face Masks in Jan-Jul
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Albania Exported €5.7mln Worth of Face Masks in Jan-Jul

TIRANA, October 7 Albanian textile and footwear manufacturing businesses switched to producing face masks following the suspension of contracts from their main buyers when the COVID-19 pandemic hit. The Albanian textile and footwear manufacturing industry comprise some of the most advanced businesses especially in terms of export volume. However, the pandemic outbreak had a huge...

Albania’s’ GDP Down by 10.2% in Q2 amid COVID-19 Crisis
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Albania’s’ GDP Down by 10.2% in Q2 amid COVID-19 Crisis

TIRANA, September 30 Albania’s Gross Domestic Product (GDP) fell at a rate of 10.2 percent during the second quarter of 2020, the Institute of Statistics confirmed on Wednesday. The significant drop in outputs reflected the worst-hit period by the pandemic lockdown, travel restriction, and prevention measures to prevent the spared of the virus. Data from...

COVID-19 Hurts Freight and Passenger Markets
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COVID-19 Hurts Freight and Passenger Markets

TIRANA, September 28 Albania saw a significant drop in the performance of the transport sector in January-August 2020 compared to the same period a year earlier, the Institute of Statistics confirmed on Monday. According to the data, the performance of the freight transport declined by 9.7 percent in Jan-Aug 2020. Rail transport declined by 39.9...

Weekly Exchange Rate Outlook, Euro and USD Fall against Lek
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Weekly Exchange Rate Outlook, Euro and USD Fall against Lek

TIRANA, September 18 The Euro to Lek exchange rate is -0,07% lower at Lek 124.03 on Friday The US Dollar to Lek exchange rate is -0.66% lower at Lek104.66 on Friday The GDP to Lek exchange rate is -0.50% lower at Lek135.91 on Friday The Euro-Lek rate exchange rate fell slightly on Friday, yet is...

Textile and Footwear Exports Recover in August
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Textile and Footwear Exports Recover in August

TIRANA, September 17 Trading figures issued by the Institute of Statistics show that exports expanded in August amid signs of recovery. Based on the data, August exports were Lek 19 million, or 3.4 percent down to the same month in 2019. Meanwhile, August imports were Lek 48 million, or seven percent down to 2019. Year-to-date,...

From Medicinal Plants to Essential Oils, Albania’s Top 5 Exports to the U.S.
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From Medicinal Plants to Essential Oils, Albania’s Top 5 Exports to the U.S.

TIRANA, July 29 Medicinal and aromatic plants (MAP) are the top product that Albania exports to the United States while the latter supplies the Albanian market with electronics and liquefied natural gas among other products. The data provided in the latest newsletter issued by the American Chamber of Commerce in Albania, Am Cham, show that...

June Exports Start Recovering from Downward Trend
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June Exports Start Recovering from Downward Trend

TIRANA, July 17 Albania exports showed signs of recovery in June after falling only 9.7 percent compared to June 2019, while increasing by 7.3 percent compared to May 2020, the Institute of Statistics (INSTAT) confirmed on Friday. Albania exports were on an upward trajectory by the end of February, before the pandemic outbreak. Meanwhile, June...

Albania Exports Down 44.4% in April
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Albania Exports Down 44.4% in April

TIRANA, May 18 Albania’s good exports shrank 44.4 percent to Lek 15 billion last month compared to the same period of 2019, official data from the Institute of Statistics showed on Monday. Imports in April reached Lek 36 billion, marking a decrease of 36.7 percent compared to April 2019. Trade deteriorated as the country went...

What Does Albania Import from China?
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What Does Albania Import from China?

TIRANA, March 6 How important are imports from China to the Albanian economy? Official data show that imports from China in 2019 increased by 11 percent while the Asian country ranked third in the list of Albania’s top trade partners after Italy and Greece. Now, as coronavirus is spreading small, medium and even large business...

Albania’s Hydro Power Generation Falls 39.1% in 2019
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Albania’s Hydro Power Generation Falls 39.1% in 2019

TIRANA, March 5 The latest numbers on the power sector in Albania seem to point out that climate change could cloud the hydropower sector in a rainless future. According to the Institute of Statistics (INSTAT), Albania’s net electricity generation in 2019 decreased by 39.1 percent compared to 2018. The data show that public hydropower plants...