TIRANA, Dec 30 /ATA/ Albanian exports to the United States increased 65% during the first 11 months of this year, compared to the same period a year ago.
According to statistics published by INSTAT on foreign trade, exports to the United States of America during the period January-November are estimated at almost ALL 4.4 billion from ALL 2.9 million in 2020.
Meanwhile, imports from the US have also increased significantly. According to the data, imports reached ALL 13.8 billion during the first 11 months of this year, from ALL 8.2 billion in 2020.
Albania exports to the United States a wide range of products, mainly food products, medicinal and aromatic herbs and metals.
Moreover, Albania is considered an important trader of medicinal plants in the American market. The increase in exports has also been driven by the scrapping of the customs tax. Since 2012, Albania has entered the list of 128 countries that can benefit from a preferential system that eliminates the customs tax for a long list of products.
At the beginning of October 2020, Albania and the US signed in Tirana a memorandum of understanding, which is expected to open a new chapter on direct investments not only in the US, but also in foreign countries as a whole.
The memorandum will have a direct impact on Albanian exports significantly improving the trade balance.
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