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Albania's exports fall mainly due to energy price decline

Xinhua, August 1, 2016 Adjust font size:

Falling oil and mineral prices in international markets was to blame for the drop in Albania's exports during the first half of 2016, the Albanian National Institute of Statistics (INSTAT) announced on Monday.

The six-month fall was mainly attributed to a 10.7 percent decline in the export prices of minerals, fuel and electricity.

The export prices of construction materials and metal declined by 2.9 percent year-on-year in the first six months, followed by leather and other items with a combined decline of 0.2 percent.

However, exports of textile and footwear registered a growth of 5.3 percent in the first six months year-on-year. According to INSTAT, the export prices of food, beverages and tobacco increased by 1.4 percent, while those of machinery and equipment spare parts went up 0.6 percent year-on-year.

Albania's overall exports in June alone were valued at Lek 23 billion (184 million U.S. dollars), down 6.4 percent from the same period of 2015 but up 10.1 percent over the previous month. Endi