TIRANA, March 19 /ATA/ – Albania’s imports from Ukraine recorded a twofold increase in the first two months of 2022, according to the country’s National Statistics office (INSTAT).
INSTAT said in its foreign trade report that imports from Ukraine during the reviewed period were valued at 1.25 billion lek up from 532 million lek during the same period of 2021.
INSTAT data show that imports from Ukraine also recorded a threefold increase compared to the pre-pandemic period in the country, with imports from Ukraine totalling only 476 million lek.
Albania imports around 47% of the yearly wheat needs from the Russian market and around 3.3% from Ukraine and the rest from Serbia, Romania and Bulgaria. The domestic wheat production is estimated at 250,000 metric tonnes a year.
According to INSTAT data, the value of imported wheat from Ukraine was estimated at 293 million lek in 2021.
With Russia’s aggression on Ukraine underway, the effects are being felt on trade costs, commodity prices and financial markets. Russia’s military aggression in Ukraine poses economic threat to Albania as well. Albania will be affected by the ban of trade relations between EU countries and Russia.
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