Albanian textiles are sold in Asia and Africa! - From Singapore, to Nigeria. Manufacturers seek new markets
After a long period penalized by the depreciation of the euro against the lek, it seems that Albanian textile manufacturers have found the solution through new markets. According to official data from the Institute of Statistics, over the past month, factories that produce clothing and footwear managed to secure several new markets, mainly in the Asia and Africa region, to sell their production.
Starting from Singapore, Nigeria, Saudi Arabia and to Togo, in West Africa, the weight of exports to these countries reached 42 tons, while in February last year no exports were registered for this group of goods in these markets.
In value, exports of textiles and footwear to these countries were recorded at 11 million lekë. However, despite the expansion of markets, overall exports of this group of goods to international markets fell by 2.3% compared to the same period last year, reaching approximately 4 thousand tons.
The decline in exports for this sector began in 2023, a period that coincides with the depreciation of the euro against the lek. Since then, Albanian exporters have found it extremely difficult to maintain stable sales in European markets.
The main reason is that payments are made in euros, and at the moment of conversion to lek, the loss in value directly affects the paying power of factories towards their workers.
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