Election month sends the value of imports up

Election month sends the value of imports up
Month of June this year has registered the first drop for Albanian exports abroad. This phenomenon has been confirmed by the latest figures issued by the Institute of Statistics, reflecting the political situation that the country was in during this period. Let us recall that the month of June was an election campaign month for the 25 June 2017 parliamentary elections.

The weeks preceding this campaign were also politically aggravated, while this time coincides with the time that export contracts are signed. Meanwhile, the end of the elections were associated with an unfavorable situation for Albanian exports and led to an increase of the value of imported goods. Meanwhile, all of this was taking place at a time when the word “economy” was the main word dominating the political agenda. “In the month of June 2017, exports of goods amounted to 23 billion lek, registering a 0.3% fall compared to the same period a year ago and a drop of 7.1% compared to the month of May 2017”, INSTAT says.

Meanwhile, this institution also points out that “imports of goods in June 2017 amounted to 56 billion lek, going up by 8.4% compared to a year ago and up 1.3% compared to the month of May 2017”. In fact, these figures widened trade deficit for this month to 34 billion lek, registering an increase of 15.1% compared to the month of June of last year and an increase of 7.9% compared to the month of May this year. In other words, these figures overturned the ratio that has existed so far, where exports have dominated against imports coming from abroad, allowing for imports to take the lead. This led to the arrival of foreign products in the country and the consumption of fewer products manufactured here.

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