After a slight improvement in September, Albanian exports returned to decline during October, as according to the Instat state agency they reached the value of ALL 27 billion (EUR 218 million), shrinking by 0.9% compared to the same period a year ago.
But, as a 10-month period, exports of Albanian products reached ALL 221 billion (EUR 1.8 billion), or ALL 31 billion less than the same period of 2019, as a result of the negative performance recorded during March-August.
The most negative performance in October was recorded by “minerals, fuels and electricity” with a decrease of 5%, due to the reduction of oil exports from Petrolium Bank company to the main buyer Spain.
Manufacturers on the other hand, which is also one of the largest exporting group in the country, has seen a contraction last month by 2.1%, due to the decline in orders from foreign countries and the sharp decline in demand for clothing and footwear.
This has forced tailors to diversify production and adapt to market demands, orienting it towards masks and other medical protective clothing.
Food products, beverages and tobacco continue to contribute positively, as the exports of this group increased by 2.7% last month, while there was an improvement in construction materials and metals.
This is because the constructions suspended during the quarantine returned to work, increasing the demand for these materials. Albania last month had the largest increase in exports with Kosovo, Germany and Greece, while exporting less to Spain and China.
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