TIRANA, May 21 /ATA/ – Bilateral trade exchanges between Albania and the United States of America grew in the first four months of 2021 with the two-way trade in goods between the two countries totalling 6 billion lek, up from 4.2 billion lek during same period of the previous year.
National Institute of Statistics (INSTAT) data on foreign trade show that Albania’s exports to U.S. in first four months are estimated at 1.5 billion lek from one billion lek in 2020.
Imports from the United States also significantly increased to around 4.3 billion lek from 3.2 billion lek in 2020.
Albania exports a wide range of products to the United States, mainly food products, medicinal herbs and metals.
Albania is a main exporter of medicinal and aromatic herbs to the United States. The exports growth has been driven by the abolition of the customs duty. Since 2012, Albania is on the list of 128 countries benefiting from a preferential system that eliminates the customs tax for a wide range of goods.
A memorandum of economic cooperation was signed in Tirana between Albania and the United States in early October 2021, which is expected to usher into a new era of foreign direct investments in the country.
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