Albania’s foreign trade revived in 2021

Albania’s foreign trade revived in 2021
By bne IntelliNews January 17, 2022

Albania’s exports and imports both revived strongly in 2021 as its domestic and international economies recovered from the coronacrisis. 

Data from statistics office Instat shows that in 2021 Albania exported goods worth ALL369bn (€3bn), up 35.6% on 2020. The value of imports was ALL801bn, an increase of 32.3%. The trade deficit grew by 29.6% to reach ALL432bn.

In December, Albania exported goods with ALL32bn, up 38.2% year on year, while imports rose 43.1% y/y to ALL88bn. However, exports were down by 14.5% month on month in December, and imports grew by only 9.1% compared with November. 

The biggest contributor to the annual change in exports in December was from minerals, fuels and electricity, which added 12.2 percentage points (pp), followed by textiles and footwear (8.2 pp) and construction materials and metals (7.1 pp). 

The same groups were the chief contributors to the y/y rise in exports; construction materials and metals added 14.1 pp, mineral, fuels, electricity 10.8 pp and textiles and footwear 3.7 pp. 

For overall imports, minerals, fuels, electricity was the main contributor, adding 18.7 pp. There were smaller contributions from construction materials and metals (6.3 pp), chemical and plastic products (4.9 pp) and other sectors.