CEFTA – It is a free trade agreement between the Balkan region countries. This agreement which has been implemented since May 2007 is a result of several bilateral agreements of free trade among the South-East European countries. The member states of this agreement are Albania, Macedonia, Kosovo, Montenegro, Serbia, Bosnia and Herzegovina, Croatia and Moldova.
During the year 2010, the total amount of imports from the CEFTA member states was 43.7 billion ALL, while the amount of exports was 16.4 billion ALL. As a consequence, the trade balance with the CEFTA member states for 2010 is -27 billion ALL. We have a deterioration of the trade balance of 11.2 billion ALL compared to the year 2009. This deterioration was due to the growth of imports by 15.2 billion ALL, and exports by 4 billion ALL. The following figure shows the imports and exports between Albania and the CEFTA member states:
Source: Ministry of Economy, Trade and Energy
Comments and analysis: ODA
The following figure shows the amount of imports (in million ALL) by country:
Source: Ministry of Economy, Trade and Energy
Comments and analysis: ODA
The following figure shows the amount of exports (in million ALL) by country:
Source: Ministry of Economy, Trade and Energy
Comments and analysis: ODA
During the year 2010, the main goods imported and exported by Albania in the region (CEFTA member states) were:
Source: Ministry of Economy, Trade and Energy
Comments and analysis: ODA
Among the CEFTA member states, Albania exports mainly in Kosovo (about 60% of the total exports). Exports by country are shown in the following figure:
Source: Ministry of Economy, Trade and Energy
Comments and analysis: ODA
On the other side, among the CEFTA countries, Albania imports mainly from Serbia (about 41% of imports). Imports by country are shown in the following figure:
Source: Ministry of Economy, Trade and Energy
Comments and analysis: ODA
It is necessary for Albania to focus and specialize in products and services where there is a competitive advantage compared to other countries. The growth of exports increases the income of a country, but it also gives a great development to the other areas of the economy.