Exports Up by Over 30% in July

TIRANA, August 18

In July 2021 the total volume of commodities exports rose to Lek, 32 billion, up by 30.6 percent year-over-year (y-o-y) as reported by the Albanian Institute of Statistics (INSTAT) on Tuesday.
Exports surged on account of a growth in the trade of construction materials and metals, minerals, fuels, and electricity, and machinery, tools, and spare parts.

However, compared to June 2021, the exports were down 7.9 percent. Meanwhile, the volume of imports in July was up by 26.1 percent. Imports were driven by a rise in minerals, fuels, and electricity, machinery, tools, and spare parts, and food, beverages, and tobacco.

The trade deficit for July was estimated at Lek 39 billion, or 22.6 percent higher compared to July 2020.
Moreover, exports during January-July rose by 39.2 percent y-o-y to Lek 209 billion. Exports in this period were driven by construction materials and metals, minerals, fuels, and electricity, and textile and footwear goods.
Meanwhile, imports during the first seven months of the year increased by 29.8 percent to Lek 426 billion. Hence, the trade deficit for Jan Jul was estimated at Lek 217 or 21.8 percent higher compared to the same period in 2020.
The main trade partners during July and also during Jan-Jul were Italy, Greece, Turkey, and Germany.

Photo by Pat Whelen on Unsplash

Source: INSTAT