US economic impact on Albania/ Trade exchanges hit new record in 2024
Albania and the United States of America have been in a close partnership for decades, especially in terms of foreign policy, but also domestic issues. But how much do the numbers support this partnership? "Scan Intel" has analyzed foreign trade and foreign investment figures to have a complete picture of the situation.
Although these are two countries positioned far apart on the global map, foreign trade figures still speak of a considerable volume of trade exchanges between them. In total, in 2024, Albania and the United States of America exchanged around 27.56 billion lek of goods, which translates to around 270 million euros. Last year's figures speak of a record of trade exchanges, i.e. exports and imports, if we analyze the data since 2005, when exchanges were estimated at around 4.41 billion lek.
More specifically, exports to America in 2024 were recorded at around 7 billion lekë, marking a decrease of 27.9%, due to the unstable exchange rate. On the other hand, imports must have supported trade exchanges, being estimated at around 20.5 billion lekë, from 17.3 billion lekë in 2023, with an increase of 18.5%.
The United States is Albania's 7th largest trading partner in imports with a share of 2.3% and its 10th largest partner in exports with a share of 1.9%. Thus, in 2024, the United States of America ranks among the top 10 trading partners.
The most exported products to the US are cast iron and steel, aromatic and medicinal plants including spices and essential oils, which represent the main share of exports, furniture, and dairy products.
But what did we buy the most during 2024?
The data shows that the highest value import products are vehicles and fuels.
Meanwhile, the US is one of the main investors in Albania, especially in the energy and infrastructure sectors. For the first nine months of 2024, this country's investments in Albania were estimated at around 46 million euros.
Poll
Trump's Inauguration Day: What are the European Union's expectations?!
The European Union has spent months preparing for Donald Trump’s presidency, and the day has finally arrived. The president-elect is likely to deliver on his......
Kosovo, 50 million euros for energy efficiency - EBRD investment aims to increase efficiency in public buildings
The European Bank for Reconstruction and Development (EBRD) is increasing its support for energy efficiency in public buildings in Kosovo, through a......
The week starts negatively for foreign currencies!
The European currency is being bought today at 97.9 lek and sold at 98.5 lek from last week without any significant change according to the local exchange......
Energy prices hit Southeast Europe - Big difference with the Northwest of the continent, investments needed
For Athens restaurant owner Christos Kapetanakis, rent has always been high, but now he must deal with what he calls "a second rent" as high electricity......
"TikTok refugees" find new shelter - Chinese social media, RedNote downloaded by about 700,000 Americans within 1 week
News that the US government and several other governments, including the Albanian one, are banning TikTok in their countries has led many users of the......
Which countries have banned TikTok and why?!
While the United States is likely to become the first country to completely ban TikTok, many others are concerned about the platform's ties to China. The......
10 billion euros for data centers - Italy doubles investments for the period 2025-2026
Investment in Italy's data centers will double to 10 billion euros in the period 2025-2026, compared to the previous two years. The data comes from a......
Canada, Carney runs for prime minister - Former Central Bank governor enters race to replace Trudeau
Former Bank of Canada Governor Mark Carney announced he would run to replace Prime Minister Justin Trudeau as leader of the ruling Liberal Party, saying he......
