TIRANA, March 6
How important are imports from China to the Albanian economy? Official data show that imports from China in 2019 increased by 11 percent while the Asian country ranked third in the list of Albania’s top trade partners after Italy and Greece.
Now, as coronavirus is spreading small, medium and even large business owners who import from China, are going through tensed times. Lack of supply due to prolonged factory closures could cause a loss of clients and momentum.
In 2017 Albania imported $312 worth of goods from China. According to OEC China’s exports to Albania in 2017 were as follows:
Machines $104 million
Textiles $49.4 million
Mineral products $37.9 million
Metals $29.3 million
Miscellaneous $24.1 million
Plastic and rubber $22.1 million
Stone and Glass $17.5 million
Chemical products $15.7 million
Footwear and headwear $15.5 million
Transportation $8 million
Instruments $7.19 million
Paper goods $5.37 million
Animal hides $4.89 million
Vegetable products $2.73 million
Foodstuffs $2.66 million
Wood products $ 2.37 million
Animal products $365k
Animal and vegetal bi-products $333k
Precious metals $129k
On the other hand, Albania exported $177 million worth of goods to China in 2017. It is important to point out that Albanian wine is being exported to China. The country is expected to become the world’s largest wine market.
The value of mineral products exported to China was $162 million.
Other exported goods by sector
Textiles $8.55 million
Metals $4.15 million
Footwear and headwear $1.86 million
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Source/Photo Credit: OEC