Exports see a significant drop in Albania

Exports see a significant drop in Albania

Tirana, 29 January 2016/Independent Balkan News Agency

Albania is seeing a significant drop of exports of 5% for 2015. This is the first time since 2009 that products, which Albania sells abroad, mark such a low value.

According to INSTAT, in total exported goods had a value of 243 billion ALL during 2015 or around 200 million USD.

The main cause for the deterioration of this indicator of this indicator relates to the drop of the price of crude oil and the deterioration of the situation at the Drin cascade in the recent months. Albanian Power Corporation has not sold power since June and crude oil which was exported abroad, has been sold at a halved price.

INSTAT also published the recent figures for December 2015:

On December 2015 the value of exports was 18 billion lekë, decreasing by 7.7 % compared with December 2014 and 8.5 % compared with November 2015. The value of imports in December 2015, was 53 billion lekë, decreasing by 2.2 % compared with December 2014 and increasing by 8.0 % compared with November 2015. This month the trade deficit is 35 billion lekë signing an increase by 0.9 % compared with December 2014 and 18.9 % compared with November 2015.

Month of December has seen a drop of imports for Albania. Although the end of the year holidays see a rise in consumer demand, this time Albanians have spent less than before.

A decrease has also been seen in the purchase of machinery and equipment, which confirms the weak situation for businesses and lack of investments. /ibna/