Regardless of the bad economic situation in the Eurozone and the region, Albania’s exports in these regions keep growing.
Recent data from the Institution of Statistics show that exports reached 203.9 billion ALL for the first 10 months of this year, or 16.5% more than the same period of last year. Since 2009, when the crisis hit economy, trade exchanges have been increased.
Data show that if exports were 24.4% of imports in 2009, last year it reached 40.3%, and chances are that for the first time in history, this year they will reach 50% of the imports. Although most of the exports comes from oil and other natural assets, data show that there is an increase in agriculture and manufacturing too. Bank of Albania says that the export increase and the improvement of the trade balance has been the main factor that didn’t allow the economy to fall under recession, especially in the last three years. World Bank says that in the conditions when the domestic consumption is expected to be low in the days to come, the government must orient economy towards exports for keeping the economic growth. But according to thim, this means improving the business climate and supporting some sectors that have higher potentials, such as agriculture and processing industry.
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