Exporters have not been able to reposition themselves in the first months of this year, seeing a significant drop in their income, affected both by the unfavorable price and demand situation in the international markets and the fall of the euro in the domestic market.

For the textiles and footwear sector, the main group of exports and one of the largest employers in the country, the contraction is deepening, giving the main effect to the negative performance of March. Meanwhile, for the first time in many years, all groups were down, which was double-digit, except for food and beverages, which had a single-digit contraction.

Albania's trade deficit expanded 8.3% year-on-year in March, reaching Lek 42 billion (Dollar 439 million/Euro 412 million), the national statistical office said on Wednesday.

Exports fell by 21% on the year to some Lek 33 billion, while imports fell 7% to some Lek 75 billion, INSTAT said in a monthly statement. Exports of shoes, textiles; minerals, fuels, electricity and building materials, and metals decreased, contributing to the overall export decline in March.

Italy remained Albania's main trading partner in March, absorbing Albanian exports of Lek 16.1 billion and providing imports worth Lek 17.4 billion.

In 2023, Albania's trade deficit decreased by 6.7%, reaching Lek 432.3 billion, the statistics service has said.

In March 2024, the countries with which Albania had the largest increase in exports, compared to March 2023, are North Macedonia (8.5%), and the United Kingdom (39.7%). While the countries with which exports have had the biggest decrease are: Italy (10.9%), Kosovo (15.1%) and Greece (22.6%). During this quarter, the countries with which exports have had the biggest decrease are Italy (11.7%), Kosovo (7.3%) and Greece (37.5%).

In March 2024, the countries with which Albania had the largest increase in imports were Turkey (7.1%), China (0.9%), and Germany (7.2%). The countries with which imports have had the biggest decrease are Italy (1.5%), the USA (26.6%) and North Macedonia (27.5%). During this quarter, the countries with which Albania had the largest increase in imports, compared to a year ago, are Turkey (21.6%), Greece (25.8%) and Germany (10.5%). ). While the countries with which imports have had the biggest decrease are: Italy (3.1%), China (10.0%) and Spain (5.2%)

Trade exchanges with EU countries account for 60.3% of all trade. In March 2024, exports to EU countries account for 72.3% of total exports, and imports from EU countries account for 54.9% of total imports. The main trade partners are Italy (31.0%), Turkey (8.9%), Greece (7.2%) and Germany (7.0%).

Trade exchanges, for the first quarter of 2024, with EU countries account for 58.8% of all trade. In the period January - March 2024, exports to EU countries account for 74.6% of total exports, and imports from EU countries account for 51.7% of total imports. The main trading partners are Italy (29.6%), Turkey (9.6%), Greece (7.3%) and Germany (7.1%).