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Thursday, 20 October 2022 08:13

Albania September exports up 16 per cent

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Albania’s exports in September 2022 were up by 16 per cent year on year.

The biggest contributor to the annual rise in exports was the textiles and footwear sector. Exports from Albania’s large textiles and footwear sector grew strongly, pushing up total exports by 5.8 percentage points.

Albania’s strength in this area dates back to the communist era, when textile production and garment manufacturing was one of the most important sectors of the economy. It developed later thanks to Albania’s low costs and its proximity to Italy, one of the world’s fashion capitals. However, the sector was badly hit by the pandemic and is only now recovering.This also contributed to the 16 per cent year on year increase in exports to Italy.Typically, clothes and shoes are exported almost complete from Albania to Italy, where Italian workers add the final touches and packaging, allowing the products to go out to the shops with the prestigious Made in Italy label.

Another major contributor to the overall increase in exports was mineral, fuels and electricity, which added 5.2 percentage points followed by machinery, equipment and spare parts (three percentage points).However, exports in some segments decreased, with a fall in exports of construction materials and metals dragging down total growth by 1.3 percentage points.