The increase in the prices of goods in the international markets is “hiding” what is really happening with the quantities of traded goods, which seem to be suffering a significant decrease due to the crisis. The official data of INSTAT show that, for the period January-August 2022, the amount of Albanian exports to Kosovo decreased by 40%, and imports from Kosovo also decreased by 12%.
During the 8-month, 448 thousand tons of goods were exported to Kosovo, from 748 thousand tons in the same period last year or 40 percent less. For the same period, 123 thousand tons of goods were imported from Kosovo in January-August 2022, from 141 thousand tons in the same period of 2021 or 12% percent less.
More detailed data from INSTAT show that the decline was created by lower export volumes of materials, construction, iron and oil. Exports in quantity of oil in Kosovo in the 8th month of 2021 were 58% lower than in January-August 2021, while exports of construction materials (mainly iron) decreased by 22%. Sources from companies that export to Kosovo inform that the markets there are already being supplied directly with oil and iron from imports that are unloaded directly from the Port of Durrës. Previously, part of the supplies were made from Kurum, but due to costs, the iron production plant has been closed, as imported iron is cheaper.
The data show that the trade surplus in volume was halved during this year. The trade balance with Kosovo shows that this year Albania exported 325 thousand tons of goods to Kosovo more than it imported. A year ago, the trade balance in volume was plus 607 thousand tons.
Trade in quantity has also suffered a decrease with other regional partners, but the decrease has not been as dramatic as with Kosovo.
Value data show a completely different situation. Although 40 percent lower in quantity, the value of goods exported to Kosovo in 8 months was 6% higher. In 8 months, the total value of Albanian exports in Kosovo reached 25 billion ALL from 23.5 billion ALL in the same period of 2021.
Kosovo’s imports to Albania reached the value of 89.8 million euros in the January-August period, increasing by almost 40 percent compared to the same period last year, while their amount was 12 percent lower than a year ago. first./Monitor