Exports increased in July
27/08/2011 09:25
Albania had more births in the region, calculations show lower rate of population decline than neighbouring countries 23/04 16:14
Albanian exports had a sudden increase of 32% this July, as compared to
the same month of 2010. But this growth seems to come from only one good
and only one company.
The concessionary company that exploits the oil well in Patos-Marinza announced the accumulation of 494.000 oil barrels in Vlore, which were exported this July at 77 USD per barrel, or 38 million USD in total.
“On July 2011 we exported 17,827 million ALL goods, a growth of 7.7% compared to June 2011, bringing a growth of 32.4% as compared to July 2010”, declared the Institution of Statistics three days ago.
One oil barrel contains approximately 160 liters and one ton needs around seven barrels.
Albania’s exports had a significant increase during 2010 and during the first months of this year. This is mainly due to the export of raw materials, such as oil, electrical energy and minerals.
The exports grew with 56% during 2010, and 22% in the period January-July of this year. The export increase of raw materials has been helped by the increase of the prices of oil, chrome and other raw materials.
The Ballsh oil price increased to 77 USD per barrel this year, from 47 USD that it used to be one year ago. Albania has very few benefits from these exports as for the Albanian employees’ payment or mineral unearned income, a tax that is encased by the government.
Besides the fact that Albania’s benefits are low, the exports of raw materials are a temporary phenomenon, since the oil and chrome sources are not endless.
Oil reserves in Patos-Marinze are expected to end by 2025, while the Bulqize chrome might end after 20 years.
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