Albanias foreign trade gap narrows 4.7% y/y in H1 2012.

By bne IntelliNews July 25, 2012
Albanias foreign trade deficit dropped by 4.7% y/y to ALL 148.7bn (EUR 1.08bn) in H1 2012, the statistics institute INSTAT said in a statement. The gap accounted for 10.7% of the projected full-year GDP, down from 11.9% a year earlier, according to IntelliNews calculations. The lower deficit was due to a 2% y/y decline in imports and a 2.2% rise in exports. Imports in the January-June period were 2.5 times the amount of exports. The growth in exports was mainly driven by the group of minerals, fuels, electricity (up by 19.2% y/y), which has been the countrys largest export sector since April 2012. The construction materials and metals saw again the largest annual drop of 15.2%. Textile and footwear, which was the second largest export sector, registered a 5.1% y/y fall in January-June 2012. On the import side, the group of construction materials and metals witnessed the largest annual drop of 29.2%. In addition, import of wood and paper and textile also dropped in the period. By contrast, imports of minerals, fuels and electricity grew by 23.3% y/y, which partly offset the decline in the former three categories. In June alone, the trade deficit narrowed 7% y/y to ALL 28.4bn. Exports grew 9.4% y/y to ALL 17.7bn and imports declined 1.3% y/y to ALL 46bn.
Foreign trade in H1 2012, ALL mn
Import % y/y Export % y/y
Total 249,140 -2.0 100,429 2.2
Food, beverages, tobacco 44,823 1.6 5,851 17.1
Minerals, fuels, electricity 53,337 23.3 33,692 19.2
Chemical and plastics 29,477 5.1 1,015 8.3
Leather 4,771 0.5 1,453 -8.3
Wood and paper 7,857 -20.2 2,285 7.1
Textile and footwear 23,607 -4.2 31,227 -5.1
Construct. materials and metals 30,345 -29.2 18,854 -15.2
Machinery, equipment, spare parts 47,012 -5.2 4,015 9.0
Others 7,911 10.1 2,036 29.6
Source: INSTAT

Albanias foreign trade gap narrows 4.7% y/y in H1 2012.

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