Contrary to expectations, the war has further intensified trade between Albania and Russia. Data from INSTAT show that imports for some items such as steel, oil have expanded both in value and quantity, causing the share of imports from Russia to increase in total imports.

Official data show that in January-March 2022 Russian imports in value marked 3.6 billion ALL with an increase of 68% compared to a year ago. In January-March 2022 imports from Russia accounted for 3 percent of total imports worth 2 percent in the same period of 2021.

For the entire first quarter of 2022, 44 thousand tons of goods were imported from Russia with an annual decrease of 14 percent. But their value was higher compared to last year due to rising prices.

In the first quarter of 2021, Albania had zero exports to Russia, while in the same period of 2022, 2 million ALL of goods were exported, a very modest value.

Oil imports from Russia stopped almost completely from Russia in the first quarter, declining by 97%. According to INSTAT data, imports of fuels (oil and gas) from Russia were only 2800 tons in the first quarter of 2022 from 22 thousand tons in the same period a year earlier. Imports of these products marked an annual decline of 87 percent. Last year, Russian oil and gas imports accounted for 12% of the group's total imports.

On the other hand, imports of Russian steel to our country increased at high rates this year. According to data from INSTAT in the goose quarter were imported 11 thousand tons of iron, from only 1500 tons last year with an increase of over 600%, while oil imports experienced a rapid increase. In the first quarter, about 2400 tons of oil were imported from Russia from 641 tons in the first quarter of 2021 with an increase of 273 percent.

During 2021, Albania realized 2.7% of foreign trade with the conflict areas, Russia and Ukraine. Albania's trade volume reached ALL 701 billion, while with Russia and Ukraine, trade in value was ALL 19 billion, or 2.7% of the total.

The trade volume is dominated by imports of goods from these two countries. In 2021, Albania imported from Russia and Ukraine ALL 19 billion of goods, which constitutes 99.5% of the trade volume and the rest, 0.5%, is represented by Albanian exports to these countries, mainly agricultural products.

Despite the fact that the trade volume in these countries is low, Albania is highly dependent on the import of vital materials, such as cereals and oil from Russia. From these countries we import 50% of the annual quantities of cereals and 12% of oil.

But the indirect dependence on the Ukrainian and Russian markets is higher. Ukraine is the largest producer and exporter of cereals and sunflower oil in the world, which Albanian wholesalers buy processed from other countries, mainly Italy.

(Source: Monitor)