Albanians save on food

According to the Institution of Statistics, the imports for the first trimester of this year were 11.1% lower than one year ago, the biggest plunge in the last 13 years.

Although most of it was due to the improvement of the energy situation, figures show that imports have shrank even for basic products, especially food.

According to Institution of Statistics, the import of food commodities in the first trimester was 10.8% lower than last year. This is the first time that Albania faces a double digit plunge in this sector, which shows that the citizens are even saving for their food.

The uncertainty due to the crisis and the reduction of incomes have changed the behavior of the consumers in the market, who seem to be more prone to savings.

The business has started answering to this situation by reducing investments. In the first three months of the year, the import of machineries and equipments fell with 11.5%.

Facing such a lower buying power, the enterprises hesitate to make other investments to increase production. A negative spiral that is one of the main causes that has left the economic growth to the minimal levels.

The only positive indicator is export, which have increased with 17%.

The same figures show that 90% of this is dedicated to the exports of oil and electric energy, due to the improved situation in the cascade.

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