ECONOMY

Greek-Albanian trade displays growth

Greece and Italy remain Albania’s two most important trading partners, according to official data released yesterday by the Balkan country’s statistics service (INSTAT). June figures showed that exports from Greece to Albania are growing at a rate of 14.1 percent annually, while imports from Albania are increasing by 8 percent. Italian-Albanian trade is growing at a faster rate, with imports of Italian products to Albania rising by 25.9 percent, while Albanian products exported to Italy have soared by 57.2 percent. INSTAT also announced that 63.8 percent of Albania’s total external trade in June was destined for European Union countries. Other countries with which Albania increased its trade in June included the UK, Croatia, Spain and Turkey. Imports from Austria, Germany, Croatia and Switzerland also registered an increase, along with those from Greece and Italy. The International Monetary Fund has given a positive assessment of Albanian finances, according to the country’s Finance Minister Ridvan Bode. The latest reports of the international organization express optimism about the economic growth of Albania in the medium and long term. The International Monetary Fund forecasts that Albania’s low tax rates will attract foreign investment, Bode added.