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How has the preference for imported products changed? The demand for food increases, but it falls for textiles and shoes

2023-11-27 13:59:34Biznes SHKRUAR NGA REDAKSIA VOX

How has the preference for imported products changed? The demand for food

The appreciation of the lek in relation to the common European currency has increased the purchasing power of Albanians in terms of imported products, especially when it comes to drinks and food, but changes are observed in the entire range of goods that enter Albania, especially from the countries of the Union European. Scan Television has made a measurement of the volumes of group-goods that have been imported into Albania during the last five years, together with the current year, when the effects of the devaluation of the lek are even more visible.

And it is precisely the group of foods and beverages that has recorded the strongest growth, especially during the last two years, when the euro has started to depreciate at historical levels in relation to the lek. The volume of imports of the Food, beverages and tobacco group expressed in Lek is 40% higher at the end of 2022 compared to 2018. In 2018, the volume of imports for this group was 106.5 billion Lek, while at the end of in 2022 they result in 149.2 billion ALL. The growth for this group has continued during this year as well. Measured on an annual basis, the group "Food, drinks, tobacco" results in an increase of +1.3 percentage points, going from 11.8 billion ALL in October 2022, to 12.9 billion in the October we just left. The growth has been gradual for the period 2018-2020, while the increase in Albanian demand for food from abroad has shown a strong upward trend from 2021, to culminate in the period 2022-2023.

Yes, the import of the wood and paper production group has increased by 40% in five years. At the end of 2022, the volume of imports for this group results in 35.2 billion ALL, from 25.1 billion ALL in 2015. For the January-October period of this year, the exports of this group result in a total of 24.9 billion ALL, down compared to 2022 , but still maintaining the strong upward trend compared to previous years.

By 33% compared to 2018, the Chemical and Plastic Products Group has increased, or from 87.7 billion ALL, to 117 billion. For January-October of this year, they result in 96 billion ALL, staying close to the trends of the last two years.

Much more gradual has been the increase in demand for the other important group, textiles and shoes. In 2022, the total imports for this group will be ALL 101.7 billion, with an increase of 15% compared to 2018. For this year, the volume of imports for this group has decreased, which is largely due to the appreciation of the ALL in relation to the common European currency.

 

In the period 2018-2022, the volume of the Group's machinery, equipment and spare parts has increased by about 30%. From 142.3 billion ALL in 2018, their volume has increased to 167 billion ALL in 2022. Meanwhile, this group, favored by the strong lek, has marked a real boom during the last 12 months. They have an increase of 1% in annual terms, but for the January-October period they result in a total of 176.3 billion ALL, from 150 billion for the same period a year ago. The difference is a full 26 billion ALL, or approximately 260 million euros at the current exchange rate.


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