Albania’s Top 10 Exports

Albania flag courtesy of FlagPictures.org

Albania flag (FlagPictures.org)

A Southeastern European nation that shares its coastline with Mediterranean Sea, the Republic of Albania shipped US$2 billion worth of goods around the globe in 2016. That dollar amount results from a -0.3% drop since 2012 but a 1.7% uptick from 2015 to 2016.

Albania’s top 10 exports accounted for three-quarters (75.2%) of the overall value of its global shipments.

Based on statistics from the International Monetary Fund’s World Economic Outlook Database, Albania’s total Gross Domestic Product amounted to $33.9 billion in 2016 (on a purchasing power parity basis). Therefore, exports represent an estimated 5.8% of total Albanian economic output.

From a continental perspective, 92.7% of Albanian exports by value were delivered to other European countries. Smaller portions were supplied to importers in Asia (5.6%), North America (0.7%) and Africa (0.6%).

Given Albania’s population of 3.048 million people, its total $2 billion in 2016 exports translates to roughly $640 for every resident in that country.

Albania’s unemployment rate was 14.6% as of March 2016 according to Trading Economics.

Albania’s Top 10 Exports

Top 10

The following export product groups represent the highest dollar value in Albanian global shipments during 2016. Also shown is the percentage share each export category represents in terms of overall exports from Albania.

  1. Footwear: US$416.1 million (21.2% of total exports)
  2. Clothing, accessories (not knit or crochet): $249.7 million (12.7%)
  3. Mineral fuels including oil: $220.9 million (11.3%)
  4. Knit or crochet clothing, accessories: $168.6 million (8.6%)
  5. Iron, steel: $121.8 million (6.2%)
  6. Ores, slag, ash: $99 million (5%)
  7. Salt, sulphur, stone, cement: $53.3 million (2.72%)
  8. Electrical machinery, equipment: $52.9 million (2.69%)
  9. Aluminum: $49.6 million (2.5%)
  10. Paper, paper items: $44 million (2.2%)

Paper and paper items represent the fastest-growing among the top 10 export categories, up by 73.8% for the 5-year period starting in 2012.

In second place for improving export sales was aluminum which was up by 67.4%.

Albanian footwear posted the third-fastest gain in value up by 51.7%.

The leading decliner among the top 10 Albanian export categories was mineral fuels including oil which was down by -57.8% especially weighted down by lower international revenues from crude petroleum.

Advantages

The following types of Albanian product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.

In a nutshell, net exports is the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.

  1. Footwear: US$295.7 million (Up by 63.1% since 2012)
  2. Clothing, accessories (not knit or crochet): $117 million (Up by 24.9%)
  3. Ores, slag, ash: $98.6 million (Down by -5.6%)
  4. Salt, sulphur, stone, cement: $34.6 million (Up by 30.6%)
  5. Knit or crochet clothing, accessories: $34.2 million (Up by 37.3%)
  6. Vegetables: $24.6 million (Down by -355.1%)
  7. Meat/seafood preparations: $19.7 million (Up by 122.7%)
  8. Oil seeds: $17.4 million (Down by -24.5%)
  9. Iron, steel: $12.4 million (Down by -180.9%)
  10. Copper: $3.8 million (Down by -88.1%)

Albania has highly positive net exports in the international trade of footwear. In turn, these cashflows indicate Albania’s strong competitive advantages under the footwear product category.

Opportunities

Overall, Albania incurred a -$2.7 billion product trade deficit for 2016.

Below are exports from Albania that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country Albania’s goods trail Albanian importer spending on foreign products.

  1. Machinery including computers: -US$384.2 million (Up by 27.5% since 2012)
  2. Vehicles : -$305.7 million (Up by 1.9%)
  3. Electrical machinery, equipment: -$291.9 million (Up by 33.8%)
  4. Articles of iron or steel: -$199.1 million (Up by 92.4%)
  5. Plastics, plastic articles: -$168.1 million (Up by 13%)
  6. Pharmaceuticals: -$156.3 million (Up by 1.1%)
  7. Mineral fuels including oil: -$133.7 million (Down by -70.2%)
  8. Raw hides, skins not furskins, leather: -$110.9 million (Up by 83.4%)
  9. Cereals: -$74.6 million (Down by -38.7%)
  10. Beverages, spirits, vinegar: -$74 million (Down by -15.8%)

Reflecting the global popularity of computer technology, Albania has highly negative net exports and therefore deep international trade deficits under the machinery including computers category.

Companies

Albanian Export Companies

Not one Albanian corporation ranks among Forbes Global 2000 for 2016.

Wikipedia lists some exports-related companies from Albania. Selected examples are shown below:

  • AlbChrome (chrome, ferrochrome)
  • Albpetrol (oil, gas)
  • Antea Cement (cement)
  • Birra Tirana (beer)
  • Birra Korça (beer)
  • Military Export Import Company MEICO (military equipment)
  • Taçi Oil (oil, gas)










 
Albania’s capital city is Tirana.

Please note that the results listed above are at the 2-digit Harmonized Tariff System code level.

See also Montenegro’s Top 10 Exports, Italy’s Top 10 Exports and Top EU Export Countries

Research Sources:
FlagPictures.org, Flag of Albania. Accessed on September 8, 2017

Forbes 2016 Global 2000 rankings, The World’s Biggest Public Companies. Accessed on September 8, 2017

International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on September 8, 2017

International Trade Centre, Trade Map. Accessed on September 8, 2017

Investopedia, Net Exports Definition. Accessed on September 8, 2017

The World Factbook, Europe: Albania. Accessed on September 8, 2017

Wikipedia, Albania. Accessed on September 8, 2017

Wikipedia, List of Companies of Albania. Accessed on September 8, 2017

World’s Capital Cities, Capital Facts for Tirana, Albania. Accessed on September 8, 2017