Although there has been no case of coronavirus contagion in Albania, panic and contagion cases in other countries are beginning to have negative effects for the Albanian economy. Trade with China has been blocked due to the closure of factories, while the movement of entrepreneurs has shrunk in Italy.
Coronavirus is seen as a health risk, and in Albania there have been no cases of contagion, but economically it has produced the first "victims". Due to the closure of factories in China, with companies importing some product lines, work was postponed until mid-March. The Italian situation also had a negative impact on the textile and footwear industries, stopping the production of clothing for the spring season.
The other effect of the coronavirus is that of the increase in costs, since the serious situation in China forces in particular the business to turn to other countries by changing destination. In the event that the situation worsens, the company has already set its sights on the markets of Turkey and European countries, which do not present cases of the appearance of viruses. Changing the markets for the supply of raw materials will increase the cost.
Alban Zusi, president of the Albanian Export Center, explained to Albanian economic magazine Monitor that imports of production lines from China will be suspended until mid-March. Zusi said that due to the closure of factories in China, business investment will come two months late.
“For two months, factories in China have been practically closed and any investments have been postponed. Factories with China are expected to open in mid-March. "
According to the head of the export center, the aggravated situation with China will force the company to import from other markets, at a higher cost.
“The effect will be that of the increase in costs that could occur due to the replacement of China with other European countries, including Turkey. Thus, new markets will be found for the purchase of consumer goods, which can cost more. As for the productive lines, those who ordered and sent money will have to wait to conclude the deal when the situation changes. Others who cannot wait could change their destination, turning to other markets for the purchase of imported goods. They will not buy in China, they will buy in other countries at higher costs.
As for commercial relations with Italy, with the increase in coronavirus cases, according to Zusi, it had the effect of reducing direct contacts between entrepreneurs. "Contacts are essential to circulate goods", said Zusi.
Coronavirus in Albania, March 7 updates
No case of contagion has occurred in Albania.
Tests on a suspected case involving a 50-year-old woman from Lushnja but who arrived from Italy (Padua) gave negative results. The lady in question had respiratory and feverish problems with clear signs of flu, but to avoid any suspicion of coronavirus infection, since she had also come from neighboring Italy, she was sent to Tirana to undergo the test.
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