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Albania's exports grow 8.9 pct on average in last five years

Xinhua, April 23, 2016 Adjust font size:

Albania's exports have increased at an annual average rate of 8.9 percent in the last five years, the Albanian Institute of Statistics said in a report on Friday.

The products that dominated Albania's exports for the last five years were active processing exports of textile products and footwear, while the most exported product group for 2015 was mineral products, it said.

During this period, Albania's exports to Italy, Spain and Malta, among others, increased significantly in absolute terms, which together account for about 70 percent of its exports.

Meanwhile, Albania's imports have been fluctuating, with a decrease during 2012-2013 and an increase in other years. The trade deficit has improved, decreasing about 0.5 percent.

Groups of products that dominated imports include machinery, mechanical and electrical equipment, mineral products and textiles.

Imports from China have continued to grow over the last five years, reaching 8.6 percent in 2015, compared with 6.4 percent of total imports in 2011. China is the second-largest source of imports for Albania after Italy, which accounted for 30.3 percent in 2015. Endi