Albania increased export of services
22/09/2017 00:00
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Although Albania’s trade balance is negative, the foreign position of
our economy is improving due to another factor, the service commerce.
The Bank of Albania reported that the deficit of current accounts, the indicator which measures the difference between the currency that goes out and the one coming in, was narrowed down to 21.2% for the first semester.
Expressed in value, this means that the current deficit of the country was reduced by 100 million EUR, compared to the same period of one year ago.
But what are the services that Albania sells to the world?
According to the Bank of Albania, the main effect was given by services that Albanian businesses do for foreign companies, and then the tourism sector.
The first group includes call centers, financial and legal consults, and other services.
The export of these services was doubled during the first half of the year, compared to last year. However, the main source of the currency in our economy remains the tourism sector.
Although outside the season, foreigners entering Albania have spent 722 million EUR during the January-March period, a figure much higher than what Albanians spend for their travels abroad.
The positive growth of services has compensated the trade deficit. Data show that Albania lost 1.2 billion EUR, but for the same period the economy benefited 485 million EUR from surplus.
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