COVID-19 Caused 5.1% Turnover Loss for Albanian Companies

COVID-19 Caused 5.1% Turnover Loss for Albanian Companies

TIRANA, November 11

Stay-at-home orders, travel restrictions, and supply-chain delays during 2020 had an impact on consumer habits, and consequently on businesses and industries’ revenues.
The latest publication by the Albanian Institute of Statistics (INSTAT) provides insights on how much, the COVID-19 pandemic hurt the revenues of enterprises by sector.
Based on the data, the number of active enterprises in Albania during 2020 was 102,564, down 1.5 percent compared to 2019. Moreover, the number of employees declined by 5.2 percent while all the active producers of goods and services had a combined turnover of over Lek 2.1 billion, or 5.1 percent lower compared to the previous year.
The findings of INSTAT’s survey included two types of producers:
Producers of goods
Mining and quarrying
Manufacturing
Electricity, water, and waste management
Construction
And Service Producers
Trade
Accommodation and restaurants
Transport and communication
Other services

Main indicators by economic activities, 2020, credit: INSTAT

 

Turnover loss

In terms of contribution to turnover decline, service producers accounted for -3.1 percent, while producers of goods accounted for -2.0 percent.
On the other hand, the sectors with the highest percentage in turnover contribution during 2020 were trade and construction, respectively by 48.0 and 12.0 percent. Meanwhile, the sectors with the lowest turnover contribution were Mining and quarrying by 2.3 percent, and Accommodation and restaurants by 2.5 percent.
According to the data, trade was the sector with the largest number of active enterprises (39.6 percent), followed by Other Services (23.8 percent) and the accommodation and restaurants sector (16.4 percent).
The sector with the lowest number of active enterprises in 2020 was Electricity, gas, water supply, and waste management. It accounted for 0.6 percent of the total number of active enterprises.

 

Decline of employment

In terms of employment, jobs in the producers of services declined by 3.8 percent, while employment in the producers of goods declined by 1.4 percent compared to 2019.
Trade was the sector with the highest number of employed people (25.5 percent) followed by other services, which included private healthcare and education, administrative services, professional, scientific, and technical services, etc (20.5 percent), and finally manufacturing that accounted for 19.8 percent of total employment.

Enterprise size

In terms of size, enterprises with over 50 employees had the main contribution to the economy. Even though they accounted only for 1.3 percent of the active enterprises, their contribution to employment and turnover was respectively 40.8 and 46.2 percent.

Source: INSTAT

Photo by Anastasiia Chepinska on Unsplash


Leave a Reply

Your email address will not be published.