TIRANA, January 7/ATA/ Albanian exports to the United States of America increased by 3 times during the eleven months of January-November last year, compared to the same period of 2021.
Referring to statistics published by INSTAT on foreign trade, exports to the United States of America are calculated during this period at 12.6 billion ALL, from 4.4 billion ALL in 2021.
Meanwhile, imports from the US declined. According to the data, imports are calculated at 12.3 billion ALL during the period January-November 2022, from 13.7 billion ALL in the 11th month of 2021.
Albania exports to the United States a wide range of products, mainly food products, medicinal herbs and metals.
Albania is even considered an important trader of medicinal herbs in the American market. The increase in exports has also been favored by the removal 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, there was signed in Tirana the memorandum on economic cooperation between Albania and the USA. It is expected to have a significant impact on the opening of a new chapter for direct investments not only from the US, but also from other foreign countries.
The memorandum will have a positive impact as far as Albanian exports are concerned, significantly improving the trade balance.
Through this memorandum, a 50-year dream is also being realized, which is the construction of the Skavica Hydropower plant, which turns Albania from a country rich in hydropower resources, but still dependent on the weather and imports, to a sovereign country in terms of energy production. /j.p/p.s./
