For 2021, exports of goods accounted for almost 48% of total imports. Although improving the coverage rate remained the same as in 2013 and still below the level of 1960 when the country was under communist regime.

Historical INSTAT data show that in the first years of the totalitarian regime, in 1950 Albanian exports covered 29 percent of imports. Exports this year were ALL 46 million and imports ALL 159 million.

The trade balance improved in a decade due to the development of the closed-loop economy. In 1996, Albanian exports covered 60% of imports. In this year, 349 million ALL were exported and 583 million ALL were imported.

Foreign trade peaked in 1980 when it covered almost 100% of imports with exports. In this year, 2.4 billion ALL were exported and the same amount were imported.

The communist regime's economy began to shrink sharply after 1980 due to declining productivity. In 1983 the import coverage ratio fell to 83%, there was an improvement in 1986-1987 to 93 and 94%, and then a decline.

The strong turnaround began in the 1990s when the centralized economy disintegrated into a market economy. The export-oriented manufacturing sector was almost destroyed.

In 1990 the ratio of imports to exports was 59.9 percent and then in the first decade of transition came deteriorating covering only 23.9% of exports in 2009.

The share of exports in foreign trade began to increase after 2009 due to the rapid development of the fason industry and the export of crude oil. In the third decade of the transition, exports averaged 45% of imports, still below the level of the 1960s.

Prior to 1990, Albania accounted for 63% of its exports to its native and foreign countries (former Yugoslavia. Until 1960, when the communist regime still had good relations with the former Soviet Union, it accounted for 50% of total exports.

While with the developed countries of Europe and Japan in 1960 only 1% of the total export was realized, while in 1989 -1990 the share of exports to the west reached 37.9% of the total.

In 2020, the share of exports to EU countries is 75% of exports of goods, reaching the value of ALL 203 billion, while the share of imports from EU countries is 58% of imports of goods, reaching the value of ALL 351 billion. Imports from these countries decreased by 6.1%, compared to 2019.

(Source: Monitor)