The trade deficit in Albania decreased to ALL 28.8 billion in November 2018 from ALL 29.3 billion in the same month of the previous year. Exports surged 6.7 percent to ALL 27.1 billion, boosted by sales of textiles, footwear (7.2%); wood & paper products (66.3%); construction materials & metals (11.2%) and chemicals and plastic products (28.3%). In contrast, shipments fell primarily for minerals, fuels & electricity (-2.6%). Among major trading partners, exports grew to Kosovo (34.9%), Spain (63.9%) and Germany (22.4%) but decreased to Italy (-2.3%), China (-21.5%) and the US (-14.4%). Meantime, imports rose at a slower 2.3 percent to ALL 55.9 billion, mainly led by purchases of machinery & equipment (18.9%) and minerals, fuels & electricity (31.9%). Conversely, imports went down mostly for food, beverages & tobacco (-12.3%). Purchases rose from Turkey (1.6%), China (3.3%) and Germany (5.8%) while they fell from Italy (-7.4 percent) and Russia (-64.6%). Balance of Trade in Albania averaged -17519.35 ALL Million from 1993 until 2018, reaching an all time high of -974.05 ALL Million in April of 1997 and a record low of -39313.20 ALL Million in December of 2011.
Balance of Trade in Albania is expected to be -39000.00 ALL Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Albania to stand at -27130.00 in 12 months time. In the long-term, the Albania Balance of Trade is projected to trend around -38500.00 ALL Million in 2020, according to our econometric models.