Albanias foreign trade gap narrows 6.2% y/y in Jan-Oct 2012.

By bne IntelliNews November 26, 2012
Albanias foreign trade deficit narrowed by 6.2% y/y to ALL 260.1bn (EUR 1.86bn) in January to October 2012, the statistics institute INSTAT said in a statement. The gap accounted for 19.1% of the projected full-year GDP, down from 21.3% a year earlier, according to IntelliNews calculations. The lower deficit was due to a 7.4% y/y rise in exports and a 1.2% y/y decline in imports. Imports in the January-October period were 2.5 times the amount of exports. The growth in exports was mainly driven by the group of minerals, fuels, electricity (up 29.5% y/y), which has been the countrys largest export sector since April 2012. On the other hand, construction materials and metals saw a 5.6% y/y decline. Textile and footwear, which was the second largest export sector, registered a 4.8% y/y fall in the first ten months of 2012. On the import side, the group of construction materials and metals witnessed the largest annual drop of 19%. In addition, imports of wood and paper, textile as well as of machinery and equipment also dropped in the period. By contrast, imports of minerals, fuels and electricity grew by 13.2% y/y, which partly offset the decline in the former categories. In October alone, the trade deficit shrank by 9.1% y/y to ALL 27.5bn. Exports grew 11% y/y to ALL 19bn and imports decreased by 1.8% y/y to ALL 46.5bn.
Foreign trade in Jan-Oct, 2012, ALL mn
Import % y/y Export % y/y
Total 435,740 -1.2 175,614 7.4
Food, beverages, tobacco 77,990 2.3 10,261 13.2
Minerals, fuels, electricity 91,018 13.2 62,386 29.5
Chemical and plastics 54,001 10.8 1,702 -0.9
Leather 7,769 0.1 2,333 -6.3
Wood and paper 14,440 -14.3 4,112 14.1
Textile and footwear 39,384 -3.7 51,838 -4.8
Construct. materials and metals 57,354 -19.0 33,281 -5.6
Machinery, equipment, spare parts 80,207 -7.5 6,330 5.8
Others 13,576 7.2 3,371 20.2
Source: INSTAT

Albanias foreign trade gap narrows 6.2% y/y in Jan-Oct 2012.

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