Economy

Credit Suisse on Global Welfare: Wealth is oriented towards middle class in Albania

A report published by Credit Suisse on Global Welfare has released very interesting data on well-being in our country compared to 2014.The report shows that there is a decrease of 31% of the group of persons with property value below 10,000 dollars in Albania compared to 2014, while there is an increase of 27.8% of the group of persons with ...

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The relationship between TAP and Albania after the completion of the pipeline

Malfor Nuri, TAP manager for Albania stated that within the fourth quarter of this year, the TAP pipeline will transport the first amount of gas. TAP was the largest project ever implemented in the country, worth about 1.5 billion euros for the Albanian session, bringing a new model, not only for the quality of work, but also social responsibility programs. ...

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Bankers has made over 35 billion USD investments for 16 years in Albania

Bankers Petroleum Albania marks its 16th anniversary in the country and during these years it has grown to become one of the most important businesses. Bankers operations affect hundreds of small and large businesses operating as its subcontractors. The company’s contribution to the Albanian economy is considerable, although the oil and gas sector in general has been negatively affected by ...

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Albania, among the 20 countries in the world with the largest number of dams

The Minister of Infrastructure and Energy, Belinda Balluku introduced today the Chairman and the new members of the National Committee of Large Dams and the members of the Permanent Technical Council of Dams. While emphasizing the focus on dam safety, Balluku noted that all the people who have joined these teams have a long experience of up to 45 years ...

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INSTAT: Closing bars and restaurants/ Albanians spent 54m euros less during quarantine period

Bars and restaurants were closed for almost three months, from mid-March to mid-May, forcing Albanians to give up a daily routine. As quarantine forced many to stay at home, spending on bars and restaurants plummeted. According to official INSTAT data, the sales volume index of the activity “Bar-restaurants” fell by 55% in the second quarter, compared to the same period ...

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Fruit drying factory in Berat, in cooperation with 3500 farmers exports to EU and US markets

With the support of the Agency for Agricultural and Rural Development, through the IPARD program, Gjedra ltd , a new fruit collection and drying facility, in cooperation with 3500 farmers has passed its final product in the markets of the European Union and the United States of America. This company has increased the collection and processing facilities with 2500 m2 ...

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Sejko meeting with IMF mission to scan the Albanian economy during pandemic

The Governor of the Bank of Albania, Gent Sejko, held an online meeting with the IMF mission where he scanned the Albanian economy during the pandemic. Sejko said in the online meeting that Albania was under the strong effect of the pandemic, but with the relaxation of the measures in the second quarter, the premises were created for the reduction ...

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Fasons’ upward trend after six months

Textile and footwear exports resumed growth in August. Data released on Thursday by Instat showed that fason exports marked the first increase on an annual basis since February. Exports of the group “Textiles and footwear” increased by 16% compared to August last year and helped narrow the pace of decline in Albanian exports as a whole. For August, exports were ...

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Albania has significantly increased exports to EU countries in August

Albania has significantly increased exports to EU countries in August, led by Italy, Germany and Greece, along with countries in the region. According to INSTAT, in August exports increased by 22.1% with Italy compared to the same period a year earlier. While  Albanian exports with Germany increased by 3.8% and with Greece by 38.6% more than in August 2019. While ...

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January-August 2020 / 2.5 million tons of goods were processed in the Port of Durrës

2.5 million tons of goods have been processed over the last 8 months in the largest port in the country. Durrës Port Authority has informed that according to data from the Statistics Sector in APD, it is learned that during the period January-August 2020, 866 vessels were processed, respectively 380 merchant ships and 486 ferries. The largest volume of goods ...

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