Albanias foreign trade gap narrows 5% y/y in Jan-Jul 2012.

By bne IntelliNews August 27, 2012
Albanias foreign trade deficit declined by 5% y/y to ALL 176.7bn (EUR 1.28bn) in January to July 2012, the statistics institute INSTAT said in a statement. The gap accounted for 13% of the projected full-year GDP, down from 14.2% a year earlier, according to IntelliNews calculations. The lower deficit was due to a 3.4% y/y rise in exports and a 1.8% y/y decline in imports. Imports in the January-July 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 21.1% 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 11.2%. Textile and footwear, which was the second largest export sector, registered a 5.1% y/y fall in January-July 2012. On the import side, the group of construction materials and metals witnessed the largest annual drop of 27.1%. In addition, import of wood and paper, textile as well as machinery and equipment also dropped in the period. By contrast, imports of minerals, fuels and electricity grew by 19.3% y/y, which partly offset the decline in the former categories. In July alone, the trade deficit narrowed 7.2% y/y to ALL 27.8bn. Exports grew by 10.1% y/y to ALL 19.6bn and imports edged down by 0.8% y/y to ALL 47.4bn.
Foreign trade in Jan-Jul 2012, ALL mn
Import % y/y Export % y/y
Total 296,707 -1.8 120,009 3.4
Food, beverages, tobacco 53,162 2.0 6,950 16.0
Minerals, fuels, electricity 61,920 19.3 39,925 21.1
Chemical and plastics 36,506 8.4 1,174 7.1
Leather 5,701 -2.0 1,660 -7.4
Wood and paper 9,746 -18.9 2,680 8.6
Textile and footwear 27,718 -5.6 37,483 -5.1
Construct. materials and metals 36,527 -27.1 23,083 -11.2
Machinery, equipment, spare parts 56,106 -4.0 4,632 7.3
Others 9,320 8.0 2,421 27.5
Source: INSTAT

Albanias foreign trade gap narrows 5% y/y in Jan-Jul 2012.

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