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Exports shrank/fell with Italy, but exports to Spain increased by 170%

2023-04-21 22:07:48Biznes SHKRUAR NGA REDAKSIA VOX
Exports shrank/fell with Italy, but exports to Spain increased by 170%
Durres port

After 2022 where they expanded up to 30%, Albanian exports contracted in March for the first time since the war in Ukraine began.

All major groups ranging from metals and construction materials to fuels and minerals are in strong contraction.

Experts explain the reasons why:

"The Albanian economy still has a fragile structure of exports, since they are mainly based on exports of raw materials such as hydrocarbons, construction materials, etc. Since the prices of raw materials have fallen in the international markets, this also has an impact on the value of exports. On the other hand, the devaluation of the euro makes Albanian products more expensive, but on the other hand, we also have the problem of human resources and staff retention", explains Majlind Lazimi.

What is noticed is that the geography of the exporting countries is changing as Albania is sending more goods to the countries of the region, but also to Spain with a 170% increase, while we have a decrease with traditional partners such as Italy.

"An increase in the price of products from Albania is reflected in less demand from markets such as Italy and Germany. On the other hand, Kosovo, as a neighboring country, has a greater opportunity to penetrate the Kosovar market. As for Spain, I estimate that it is something momentary and not with a long-term impact. But it is clearly seen that in the most sophisticated and developed markets of Europe, Albanian products have lost the advantage they could have until 2022 in terms of penetrating these markets."

Meanwhile, Albanian agro-food products have continued to maintain the positive trend during March, increasing by 17%, while equipment, machinery and spare parts have also increased. Fasons remained unchanged with an increase of only 0.2%./ TCH


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