Ford drives hike in car production in Romania
1 day ago
Albania’s trade deficit widened 8.2% year on year to around ALL317bn (€2.6bn) in the first eleven months of the year. Exports declined 4.1% y/y to ALL277bn, while imports grew by 2.1% y/y to ALL593bn, the statistics institute INSTAT said on December 17.
In 2018, Albania’s trade gap totalled ALL331bn, narrowing by 6.2% from a year earlier. Albania has historically run a substantial trade deficit caused by its narrow production and export base, and has partly funded this with remittances from Albanians living abroad.
In November, the trade gap decreased by 2.7% y/y at ALL28bn. Exports dropped 9.1% to ALL25bn, while imports went down 5.8% to ALL53bn.
The main groups that influenced the decrease of exports in November were: textiles and footwear (-5.1 pp) and wood manufacturing (-2%).
Trade exchanges with EU countries accounted for 65.3% of overall trade in November. Albania's main trading partners were Italy (33.2%), Turkey (8.2%), China (7.2%) and Germany (7%).
According to the International Monetary Fund (IMF), Albania’s current account deficit is forecast to reach 6.6% of GDP in 2019 and 6.4% in 2020, following a gap of 6.8% of GDP in 2018.
Related Content
Data
Ford drives hike in car production in Romania
Romania’s automobile production increased by 7% y/y to more than 150,000 units in Q1.
Akbank launches spring syndicated loan renewals season for Turkish banks at better costs
Benefits of Turkey’s so-called economic normalisation policy clearly observed in external debt rollovers.
Ukraine's birth rate plummets to 300-year low as country’s population collapses
Ukraine’s population collapsed to 29mn souls last year, according to Ukraine Business News, with just 187,000 births recorded (including in Russian-occupied territories). This is the lowest annual figure in recorded history over the last 300 years.
Russia’s $13.4bn current account surplus in March second highest since 2007
Russia posted a $13.4bn current account surplus in March, more than double February’s $5.5bn and the second highest level for a March since 2007.
Automotive sector output in Hungary edges up 1.6% y/y in February
Headline industrial output rose 1.8% in February, increasing for the first month in about a year.
Most Read
-
Ukraine's birth rate plummets to 300-year low as country’s population collapses
2 days ago
-
Remittances come to the rescue of Lebanon’s battered economy
1 day ago
-
COMMENT: Armenia's decisive turn towards the West
1 day ago
-
US senators seek closer ties with Western Balkans to combat Russia's 'malign influence'
1 day ago
-
Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
2 days ago
-
Iran vs Israel: Who is better equipped for war?
5 days ago
-
Saudi Arabia to scale back plans for Neom city
9 days ago
-
BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
5 days ago
-
PANNIER: Caspian military drills that exclude Russia and Iran have some people in Moscow asking questions
7 days ago
-
Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
5 months ago
-
Russia could pay off its entire external debt tomorrow, in cash
20 days ago
-
Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
24 days ago
-
Albanians campaign on social media to keep bus bridge created in freak accident
1 year ago
-
UBN: Russia could take the Baltic states in 48 hours
29 days ago
-
BRICS announce a blockchain-based payment system to create a common currency
22 days ago