The trade balance measures the difference between the value of exports and imports in an economy. Exports represent the monetary value of all goods/services sold/committed abroad, while imports represent the monetary value of all goods/services purchased/carried out from the other countries.
Balance of Trade = Exports – Imports
In the case of Albania, the trade balance has been declining steadily (imports have continuously increased comparing to exports). The lowest value was reached in 2009, and the highest one in 1994.
From the data analysis the level of exports can be considered as problematic, since it has not increased with the same pace as imports. In 2009, the two indicators have decreased compared to the previous year (imports as weel as exports). This is explained by the global crisis and reduced demand inside the country and abroad. Therefore in 2009, the balance of trade has remained almost constant compared to 2008.
As for the main trade partners, Italy occupies the leading place, followed by Greece and Germany. The growth rates of imports and exports from/to Italy have been high, while these rates have been decreasing for Greece. An increase in imports from the Asian countries (China occupying the leading place) and an increase of exports to Kosovo can be observed.
The dataset is shown in the dynamic table below: