Exports slow down
26/07/2011 19:55
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After two years of uninterrupted growth, the Albanian exports are
slowing down. INSTAT official data show that during the month of June,
exports were 16.55 billion ALL, an insignificant increase of 0.2%
compared to June 2010.
This is the second consequent month when exports not only have not increased, but decreased by 8.3%, compared to the same month of one year ago.
For the entire semester, exports are 20% higher than one year ago, due to the growth that was seen in the first months of the year.
But this tendency is making an overturn, confirming the warnings made by the Bank of Albania that export increase is only temporary.
The return of the drought has stopped the sale of the electrical energy, the leading export element in the last year.
During 2010, the Albanian Energy Corporation exported 120 million EUR of energy, 10% of the total exports.
As soon as Albania stopped selling energy, exports froze. This stagnation also changed accounts for the economic growth.
Export increase is what led last year’s economic growth.
Their stagnation could lower the expectancies for the economic growth, in the conditions when INSTAT and Bank of Albania have confirmed the decrease of domestic consumption and when the government was forced to withdraw from high expenses, due to the fear of debt.
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