Trade of Albania grows in 2014

Albania's trade increased 6.8 percent in terms of production and exports in 2014, while agriculture and the garment industry increased 14 percent and 34 percent, respectively.

Albanian Daily News quoted on Wednesday the data published in an annual analysis conducted by the Center for International Trade and Competition.

The analysis estimated that during 2014 exports grew 3.7 percent while imports went up 8.3 percent, which is a good sign for Albania's economy.

Exports of mining products and fuel dropped 39 percent while electrical energy exports fell 86 percent, given that the new management scheme of domestic electrical energy production focused on meeting the country's domestic need for this product.

The analysis highlighted the fact that the demand for agricultural exports, textile and garment products increased in 2014.

Italy continues to be Albania's closest trade partner, which accounts for 52 percent of Albania's exports and 30 percent of its imports. In general, Albania has been a stable trade partner with European Union member states.

In the meantime, according to the data released by the Albanian Institute of Statistics, the export of goods in value was 58 billion Lek (458 million U.S. dollars) in the first quarter of 2015, which was 1.9 percent less compared with the same period of last year and 7.3 percent less than that in the fourth quarter of 2014.

The import stood at 119 billion Lek (940 million dollars), 1.7 percent higher than the first quarter of 2014 and 23.3 percent lower than the previous quarter. Endi