In August 2019, Exports were Down by 27% Compared to Previous Month

In August 2019, Exports were Down by 27% Compared to Previous Month

TIRANA, 18 September

August 2019- Trade deficit was Lek32 billion, or up by 13% 

The Institute of Statistics (INSTAT) has published the latest data, on Tuesday, 17 September regarding the exports and imports of goods in Albania last month. The publication titled ‘The foreign trade of goods’, shows that the exports of goods during August 2019, had the value of Lek20 billion, down by 2%, compared to the same month of last year, or 27% less compared to July 2019. Whereas, the import of goods reached the value of Lek52 billion, increasing by 6.8%, compared to the same month of last year, and down by 13.7% compared to July 2019. The trade deficit last month was Lek32 billion, or up by 13.3%, compared to August 2018.  

January-August 2019-Trade deficit was Lek229 billion, or up by 8.6%

In the first 8 months of 2019, the exports of goods reached the value of Lek200 billion, decreasing by 2.5% compared to the same period of last year, whereas the imports of goods reached the value of Lek429 billion, up by 3.1% compared to the same period of 2018. The trade deficit for January-August 2019, was Lek229 billion, increasing by 8.6% compared to the same period of last year.

76% of Albania’s trade of goods were exported to the EU in Jan-Aug 2019 

Last month, the trade exchange of Albania with the EU make up 59% of all trade. In August 2019, the exports towards the EU countries, make up 70.8% of all exports and imports to the EU make up 54.4% of all imports. The main trade partners of Albania in August 2019, were:

1.Italy (25%)

2. China (8%)

3. Germany (7%)

However, last month the biggest increase of exports, compared to August 2018, was with: France (up by 473%), followed by Netherlands (143%), and Germany (14%). Whereas, for the period January-August 2019, the trade exchange with the EU countries makes up 64.5% of all trade. In January-August 2019, the exports to EU countries make up 76% of all exports, and imports from the EU make up 60% of all imports. The main trade partners of Albania during the first 8 months of 2019, were:

1. Italy (33%)

2. Greece (7%) 

3. China (7%)

Source/INSTAT

Read also: Who Were Albania’s Main Trade Partners in July 2019?

Albania’s Exports Fell by 9.2% in January-June 2019

INSTAT: Industry Registered Increase in Production, Net Sales and Wages

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