Germany becomes Albania’s fourth trade partner

Germany becomes Albania’s fourth trade partner

Albania – Germany trade activity is showing an increasing trend this year since Germany increased two ranks in the list of Albania’s trade partners. According to the Institute of Statistics’ figures about the trade exchange activity of Albania during the past months, Germany has become a more influential trade partner of Albania by increasing the amount of trade exchanges.

The report shows that only during the month of July, trade exchanges between Albania and Germany doubled in exports and imports as well. Made in Albania exports increased by 54% while imports from Germany by 22.1%.

According to experts, the historical visit of German Chancellor Angela Merkel in Tirana on July of this year, has affected the increase of trade activity between the two countries since now Germany is ranked as Albania’s fourth trade partner. The trade activity between the two countries comprises about 5.9% of the total of Albania’s trade exchanges.

Trade exchanges started to increase since January of this year, shows the report. Statistics show that during the first semiannual of this year (January – July), Made in Albania exports towards Germany reached the amount of ALL 4.3 billion, while in the same period of a year ago exports reached the amount of only ALL 3.4 billion. In turn, German imports in Albania increased by ALL 2 billion this year compared to a year ago, according to the report.

 In terms of trade exchange activity of Albania, Italy still remains the most important trade partner while Greece is continually losing positions in the list of Albania’s trade partners.

News source: Scan TV
Photo credits: Rafael MatsunagaFlickr


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