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Turkey replaces Italy, in 2022 it becomes the country's main import partner

2023-01-23 19:11:36Biznes SHKRUAR NGA REDAKSIA VOX
Turkey replaces Italy, in 2022 it becomes the country's main import partner
Turkey replaces Italy, in 2022 it becomes the country's main import partner

The price crisis has undoubtedly had an effect on many aspects of the economy, and one of them is foreign trade. With the complete data already public for the past year, we have the opportunity to see a complete panorama of one of the most important sectors of the country's economy during the past year. "Scan Intel" has analyzed the geography of imports in Albania during 2022 to understand how their geography has changed compared to the previous year, but also to the last 5 years.

Due to the fact that the increase in prices has significantly distorted the prices, we will make the main analysis focused on the figures on weight and not on value, that is, on trade volumes according to each country.

What stands out from the start is the fact that we have a row at the top of the classification. Turkey has thus returned during 2022 to our largest partner in imports, relegating Italy to second place, in terms of imports by weight. Almost one in five import products in Albania during 2022 came from Turkey. The latter accounts for 21% of total imports in the country. Italy follows in second place, with only 12%.

Meanwhile, in 2021, Italy held the first place, with 16%, followed by Turkey with 13% and Greece with 11%. The latter meanwhile, even for 2022, occupies the third place, with 9% of the total, thus shrinking the weight somewhat. Saudi Arabia follows in the ranking, with 5% of the total. The previous year, this state was ranked 9th. Meanwhile, the 3 countries of the region, Serbia, with 5%, North Macedonia with 4% and Kosovo with 3%, occupy the 5th, 6th and 7th place respectively.

Russia, Spain and China close the "Top 10" of our main trading partners for 2020 in terms of imports, expressed by weight. These 10 countries represent fully 68% of the total imports of Albania. As a result of the sanctions after the conflict in Ukraine, we noticed that Russia has significantly lost positions, but continues to stay in the "Top 10". Meanwhile, China and Spain have removed Libya and Germany from the list. The latter has dropped to 11th place, with only 3% of imports in our country. At least during the last 5 years analyzed by "Scan Intel", Turkey has never before been ranked first. In 2021 it was in 2nd place, in 2020-2019 in 3rd place and in 2018 in 4th place.

On the other hand, the figures also signal that the price crisis has somewhat undone the hegemony of the largest trading partners in imports in our country. During the years 2018-2020, the top 10 importing countries by value represented 72% of the total, while in 2022, the rate has dropped to 68%. The increase in prices has forced importers to look for alternative, more competitive markets.

If we were to do this analysis by looking at the figures in value and not in weight, we notice that Italy continues to stay in first place, with 21.7% of the total, from the 24.3% it represented in 2021, when it held again first place. In terms of value, Turkey follows in second place and then China. Greece, Germany, Saudi Arabia, Serbia, Switzerland, Poland and Kosovo close the top 10 places. During 2021, Russia, the United States of America and North Macedonia were also represented in this list./ Scan

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