Albanias foreign trade gap narrows 6.2% y/y in Jan-Oct 2012.

By bne IntelliNews November 26, 2012

Albanias foreign trade deficit narrowed by 6.2% y/y to ALL 260.1bn (EUR 1.86bn) in January to October 2012, the statistics institute INSTAT said in a statement. The gap accounted for 19.1% of the projected full-year GDP, down from 21.3% a year earlier, according to IntelliNews calculations. The lower deficit was due to a 7.4% y/y rise in exports and a 1.2% y/y decline in imports. Imports in the January-October period were 2.5 times the amount of exports. The growth in exports was mainly driven by the group of minerals, fuels, electricity (up 29.5% y/y), which has been the countrys largest export sector since April 2012. On the other hand, construction materials and metals saw a 5.6% y/y decline. Textile and footwear, which was the second largest export sector, registered a 4.8% y/y fall in the first ten months of 2012. On the import side, the group of construction materials and metals witnessed the largest annual drop of 19%. In addition, imports of wood and paper, textile as well as of machinery and equipment also dropped in the period. By contrast, imports of minerals, fuels and electricity grew by 13.2% y/y, which partly offset the decline in the former categories. In October alone, the trade deficit shrank by 9.1% y/y to ALL 27.5bn. Exports grew 11% y/y to ALL 19bn and imports decreased by 1.8% y/y to ALL 46.5bn.

Foreign trade in Jan-Oct, 2012, ALL mn
	Import	% y/y	Export	% y/y
Total	435,740	-1.2	175,614	7.4
Food, beverages, tobacco	77,990	2.3	10,261	13.2
Minerals, fuels, electricity	91,018	13.2	62,386	29.5
Chemical and plastics	54,001	10.8	1,702	-0.9
Leather	7,769	0.1	2,333	-6.3
Wood and paper	14,440	-14.3	4,112	14.1
Textile and footwear	39,384	-3.7	51,838	-4.8
Construct. materials and metals	57,354	-19.0	33,281	-5.6
Machinery, equipment, spare parts	80,207	-7.5	6,330	5.8
Others	13,576	7.2	3,371	20.2
Source: INSTAT

Albanias foreign trade gap narrows 6.2% y/y in Jan-Oct 2012.

Read in IntelliNews Pro

Get IntelliNews Pro

Related Articles

Albania calls tender for supervision of sewerage project.

Albania has called a tender to select a company to supervise the construction and supplies for a sewerage system and waste water treatment plant in Velipoja area, the European Commission informed ... more

Albania's govt approves changes in concession agreement for Devoll project.

The Albanian government has approved changes in the concessionary agreement for the Devoll Hydropower cascade, which formally enables Austrian EVN to exit from the project, the cabinets press ... more

Albanian parliament panel endorses EUR 12.7mn EBRD loan for dam safety project.

The economy and finance committee of Albanias Parliament has approved a EUR 12.7mn loan from the European Bank for Reconstruction and Development (EBRD) to be used to fund a project for upgrading ... more

Dismiss

Chat with usLiveChat