Flash News

The US is involved in the war, why did Trump take the risk of attacking Iran?

Bosnian tourist drowns in Durres

Massive accident on the Librazhd-Qukas axis, 3 injured, one in critical condition

An apartment in Yzberisht is engulfed in flames

Robbed a jeweler in Gjirokastra in 2021, 45-year-old extradited from Greece (NAME)

Kosova

Kosovo remains the main market for Albania

Politiko 2024-12-21 09:49:18

Albania, as part of the Western Balkans region, has developed strong trade ties with neighboring countries over the years. Data published by INSTAT for the first 11 months of 2024 provide an interesting overview of Albania's foreign trade performance with Montenegro, North Macedonia, Serbia and Kosovo, highlighting both successes and challenges.

Specifically, with Montenegro, Albania recorded an import value of 22.1 billion lek, while exports stopped at only 7.1 billion lek. Products such as construction materials, electricity and consumer goods seem to be at the center of trade exchange. This report shows a greater dependence on imports, highlighting the need to strengthen exports to this neighboring country.

For North Macedonia, the trade balance appears more balanced. Albania has realized 10.9 billion lek of imports during the period January-November 2024, while the value of exports reached 11.1 billion lek. Agricultural, food and light industry products dominate Albanian exports to North Macedonia, indicating the potential for a wider diversification of export products.

On the other hand, with Serbia, Albania has an unbalanced relationship, with imports recorded at 19.5 billion lek and exports only 7.8 billion lek. Industrial products, machinery and food goods imported from Serbia have a considerable impact on the Albanian market, while Albanian exports to Serbia remain limited, mainly in agricultural products and textiles.

Meanwhile, the relationship with Kosovo appears more favorable for Albania. Imports are recorded at 14.4 billion lek, while exports reach up to 34.2 billion lek. This positive balance shows that Kosovo remains a strategic market for Albanian products. Exported goods include mainly agricultural products and light industry goods, which find a wide market in Kosovo.

Thus, Albania's trade with the region during the first 11 months of 2024 presents a clear mosaic of challenges and opportunities. While trade relations with Kosovo and North Macedonia appear more balanced and promising, relations with Montenegro and Serbia show that there is still work to be done in terms of increasing exports.

During the first 11 months of 2024, exports to the region have marked a significant decline compared to the same period in 2023. The largest decline was recorded in North Macedonia (-27.7%) and Montenegro (-20.9%), while Serbia and Kosovo have suffered a smaller decline of -13% and -9.3% respectively.

Meanwhile, at the global level, data with key partners shows that exports to Germany have fallen by 4.8%, while those to China have increased by 16.6%. An important development is the significant increase in exports to the United States, with an increase of 59.9%./SCAN