Exports Down 9.1% in November

Exports Down 9.1% in November

TIRANA, December 18

Exports dropped by 9.1 percent year-on-year in November to Lek 25 billion, bringing the contraction in January-November to 4.1 percent, according to the Institute of Statistics (INSTAT). In the meantime, imports dropped by 5.8 percent to Lek 53 billion. The trade deficit in November narrowed to Lek 28 billion compared to November 2018.

Albania exports November 2019
Based on the official data, noticeable decreases were seen in the export of textile and footwear, construction materials and metals, and wood and paper products.
Moreover, in terms of trade partners exports to Spain, Germany and Greece increased. Meanwhile, exports to Italy, Kosovo, and China declined during November.

January – November
In the first 11 months of this year, exports were valued at Lek 277 billion, down by 4.1 percent. Imports on January-November were estimated at Lek 593 billion, up by 2.1 percent. The trade deficit was Lek 317 billion, up by 8.2 percent.
During Jan-Nov, Albania saw an increase in exports to Kosovo (10.6%), Germany (5.2%), and China (11.1%). Meanwhile, exports to Italy, Spain, and Greece decreased.
The EU accounted for 64.3 percent of Albania’s trade in goods, exports 76.5 percent, imports 58.5 percent. The main trade partners were Italy (32.7%), Greece (7.1%), Kina (6.9%) and Turkey (6.5%).

Source: INSTAT

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