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Albania's trade gap widens

Xinhua, June 8, 2016 Adjust font size:

Albania's trade deficit widened by 20.8 percent year-on-year to 100.4 billion leks (824 million U.S. dollars) between January and April, official figures showed Wednesday.

The country's exports fell to 74.4 billion leks (611 million dollars) during the period, marking a 5.9-percent decrease year-on-year, while imports saw a yearly rise of 7.7 percent and reached 174.9 billion leks (1.4 billion dollars), according to the Albanian National Statistics Institute (INSTAT).

Albania's main exports include textile, footwear, minerals, fuels and electricity; while machinery, equipment and spare parts, food, beverages and tobacco are among its main imports.

In April alone, the country's exports edged up by an annualized 1.5 percent to 21.1 billion leks (173 million dollars), while imports jumped by 17.2 percent to 51.2 billion leks (420 million dollars).

According to INSTAT, the country's foreign trade is mainly linked with the EU market (68.9 percent of the total) in April, with its exports to EU countries reaching 73.1 percent of its total exports, and imports from the EU accounting for 67.2 percent of its total.

Italy remained Albania's largest trade partner during the four-month period. Endi