Italy continues to remain Albania's main trading partner in terms of exports: according to Instat data, in fact, 48% of total 2019 exports were destined for the Bel Paese.
The Instat data
However, exports to Italy recorded the largest decrease (-4%) in absolute value in 2019, falling to a total of about 1,4 billion euros (143 billion lek). The main causes of this drop are attributable to the "poor" job performance of the textile and footwear sector (70% of the total products of which are exported to Italy) and to the collapse of the value of the euro.
Kosovo also confirmed its second position among the trading partners of the country of Eagles. Unlike Italy, exports to Kosovo recorded the highest growth in absolute terms (+ 10%), rising to a total of around 250 million euros (30 billion lek).
Behind Italy and Kosovo is Spain, Albania's third largest export trading partner. Exports to Spain also increased slightly in 2019 (+ 1%) compared to 2018, reaching a total value of around 200 million euros (24 billion lek). Trade ties with Spain are maintained almost completely by a single company, Bankers Petroleum, the largest oil producer in Albania, which has its largest concessionary company, CESPA in Spain.
Germany is in fourth place, with 4,7% of total exports, which recorded a + 5% in 2019 reaching a total of about 115 million euros (14,2 billion lek). Greece follows in fifth place, with 4,3% of total exports, which recorded a decrease of 2,5% compared to 2018, dropping to a total of about 104 million euros (12.7 billion lek).
To these five states, 75% of Albania's total exports were shipped in 2019. According to a recent report by the International Monetary Fund on exports to the Balkans, Albania has the highest dependence on a single country, namely the Italy, which makes the country of the Eagles dependent on the commercial developments of the Bel Paese.
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