From Medicinal Plants to Essential Oils, Albania’s Top 5 Exports to the U.S.

From Medicinal Plants to Essential Oils, Albania’s Top 5 Exports to the U.S.

TIRANA, July 29

Medicinal and aromatic plants (MAP) are the top product that Albania exports to the United States while the latter supplies the Albanian market with electronics and liquefied natural gas among other products. The data provided in the latest newsletter issued by the American Chamber of Commerce in Albania, Am Cham, show that the U.S.

Foreign Direct Investment inflow to Albania in 2019 was Euro 20 million, or six million more compared to 2018. However, the publication highlights that “the trade volume, despite fluctuations, has stabilized in an optimistic territory in relations with the United States, it seems that investors across the ocean have been reluctant to invest in Albania.”

Meanwhile, the U.S. FDI to Albania during the first quarter of 2020 was estimated at Euro 5 million. The data refereeing to the Bank of Albania (BoA) statistics show that 2014 was the year when Albania received the highest FDI inflow from the U.S. at Euro 35 million. On the other hand, 2017 was the year with the lowest U.S. investment in Albania, Euro 4 million.

So far in 2020 trade stats show that the U.S. exports to Albania totaled $23million, while imports were at $18.4 million.

What are the top five products that Albania and the U.S. trade?

“It is interesting that the trade volume of U.S. products coming to Albania consists of meat and poultry products, liquefied gas, vehicles, and mobile phones. Meanwhile, the American market gets back from Albania medicinal plants, raw materials like iron, resin and essential oils as well as leather shoes,” the AmCham points out.

Top five products Albania exports to the U.S.
• Plants for pharmacy, perfume,
insecticides
• Ferroalloys 7202.
• Leather shoes.
• Essential oil resins
• Mattresses and other bedding
products

Five top products U.S. exports to Albania
• Passenger vehicles
• LNG, other petroleum gases
• Chicken and other poultry
• Pork meat, fresh, frozen or
chilled
• Cell phones, related equipment

Read also:

Medicinal Plants

Sage – Info & Wholesale Suppliers

Lavender Oil & Flower – Info and Wholesale

Footwear & Shoe Manufacturing in Europe & Albania

Cloth Manufacturing – The Textile Industry in Albania

Source: AmCham


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