Exports Increased by 13.2% during Jan-Nov 2017

Exports Increased by 13.2% during Jan-Nov 2017

TIRANA, December 19

Exports increased by 13.2 percent during January-November 2017 compared to the same period of the previous year. According to the Albanian Institute of Statistics (INSTAT), the value of goods exported by Albanian companies exported was Euro 1.88 billion compared to Euro 1.65 billion during 2016. Based on this figures, Euro 225 million more were generated during 2017.
Detailed data confirm that the increase of exports was affected by three main groups of goods construction materials, manufacturing and footwear products, agricultural products while the export of power and minerals declined.
During the last two years exports, from Albanian companies declined due to a decrease in the price of oil and minerals. Even though the level of exports improved, Albania is the country that exports less to the region, an indicator that shows low competitiveness of the Albanian economy.
According to a recent report published by the International Monetary Fund (IMF), the reasons why Albania has the lowest exports in the region are related to corruption, weak infrastructure, the complex tax system and difficulties of companies to get access to finance. According to IMF, these are the factors that prevent the Albanian economy from becoming more competitive and they also affect exports and companies.

News Source: INSTAT, TCh

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