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Alarm – Albanian economy is going from price crisis to consumer crisis

2022-07-28 18:52:22Biznes SHKRUAR NGA REDAKSIA VOX
Alarm – Albanian economy is going from price crisis to consumer crisis
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INSTAT reported strong decreases in the volume of goods circulation at the country's border points for the month of June, confirming the decline in consumption.

From an analysis of INSTAT data on the circulation of goods, in June goods exports fell by about 14 percent compared to June last year, while imports fell by about 15 percent.

The statistics in question of INSTAT relate to the transport routes of goods and their volume. Shipping and land are the two main routes. Air transport and that of other roads is almost insignificant in the case of Albania.

Practically speaking, INSTAT data confirms that exports in volume of goods (not revenues) have fallen by about 15 percent, dropping to about 373 thousand tons in June 2022 from 425,000 tonnes in June 2021.

Import has also fallen yes by about 15 percent. In June 2021, 485,000 tons of goods entered Albania, compared to 400,000 tons in June this year.

On both main transport routes, whether sea and land, there is a strong decrease in the volume of freight circulation. The decline in the volume of goods indirectly confirms the decline in consumption due to rising prices.

The first to suffer from falling consumption due to prices are bars and restaurants operating in the tourism sector. In the middle of this month they said that on the coast consumption has fallen by about 40 percent compared to last year, while in other areas by about 20 percent.

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