Albania’s Q1 trade gap widens

Albania’s trade deficit increased 1.3% year-on-year, reaching 71 billion leks ($559.1 million/524.7 million euro) in the first quarter of 2017, the statistical office, INSTAT, said on Tuesday.

Exports rose 15.7% on the year to 62 billion leks in the January-March period, while imports increased 7.5% to 133 billion leks, INSTAT said in a statement.
In March alone, Albania’s trade deficit was 12.8% higher year-on-year and 30.2% above the February value.
Italy remained Albania’s main trading partner in the first three months of 2017, absorbing 71.3% of Albania’s exports and providing 44.9% of the imports into the country. Other major importers into Albania were Greece, Germany, Spain and Austria.
Albania exported mainly textiles, footwear, construction materials and metals. The country imported predominantly machinery, equipment and spare parts, as well as chemical and plastic products.
(1 euro = 135.3 leks)

Source: SeeNews

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