What were Albania's new markets in 2024? Albanian products "traveled" to Andorra and Cape Verde
In recent years, Albania has demonstrated an extraordinary commitment to expanding its trade horizons. With a strong focus on diversifying export markets, the country has begun to build trade bridges with new countries, some of which were not traditionally part of the Albanian export map. "Scan Intel" has analyzed INSTAT figures for the last five years to better understand the dynamics of development.
One of the markets that has marked significant growth is Cuba, for which exports did not develop during 2020 and 2021, but in 2023 reached 1.9 million Lek, to further increase to 11.5 million Lek in 2024. Albania has also strengthened trade relations with Cape Verde , a market that in 2019 and 2020 had not recorded any export value from Albania. Specifically, there were 21.4 million Lek in goods exported to this country in 2024, reflecting a significant increase.
In the Asian region, during the period 2019-2024, Albania has exported to Cambodia since the beginning of this period with a modest value of 36,492 lek, while in 2024 it reached a peak of 4.6 million lek. Meanwhile, some other markets have had a slower development, such as the case of El Salvador. In 2021, exports reached the value of 28,450 lek, increasing significantly to 3.3 million lek in 2024.
One of the most important developments in the last five years has been the establishment of trade relations with Uzbekistan, a market which in 2024 reached a total of 55 million lek, marking one of the highest levels of Albanian exports with new markets for this period. It is also important to note that trade relations with Andorra, Cape Verde and Tajikistan have been significantly strengthened in the last 5 years.
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