Foreign trade sees sharp slowdown

Foreign trade has seen a sharp slowdown in the first four months of the year and it has affected both exports and imports alike. According to the country’s bureau for statistics, INSTAT, the value of goods exported to other countries in the month of April fell by 20% as a result of the depreciation of the euro and falling prices in global markets.

The value of goods exported abroad amounted to 34 billion ALL, down 19.2% compared to the same period in 2022. The biggest losers were construction materials and metals followed by minerals and electricity. Meanwhile, the export of textiles and shoes has also seen a decrease.

According to the chairman of the Association of Manufacturers and Exporters, Alban Zusi, Albanian companies have so far reported a loss of over 100 thousand euros.

The value of exports in the year to April was 156 billion ALL, down 3.4% compared to the same period last year, while the value of imported goods has also seen a slight decrease to 283 billion ALL.