In the year we left, the trade sector increased by 6.8% in terms of production and exports, while the sectors of agriculture and garment industry increased by 14% and 34% respectively. These data have been published in an annual analysis conducted by the Center for International Trade and Competition. The analysis estimates that during 2014 exports increased by 3.7% while imports increased by 8.3%.
Exports of mining products and fuel decreased by 39% while electrical energy exports decreased by 86%, given that the new management scheme for the electrical energy domestic production focused in meeting the domestic needs of the country for this product. The analysis highlights the fact that has been an increase of demand for agricultural exports, textile and garment industry products during the past year.
Still, Albania’s closest trade partner remains Italy. Albania exports 52% of its total amount of exports in Italy while 30% of the imports come from Italy. In general, Albania has as a stable trade partner the European Union countries. The increase of exports and imports is a good sign for the economy, according to the annual analysis.
News source: Scan TV
Photo credits: Nentor Oseku