According to a recent study by the Hungary-based China-CEE Institute, bilateral trade between China and Albania has grown significantly in the first quarter of 2021.
The data of the first quartyer shows that imports from China in the first quarter of 2021 increased by 32% and Albanian exports to China in the first quarter of 2021 increased by 84%.
In absolute monetary values, for imports from China to Albania, the data show that in January there is an increase of + 19%, in February an increase of + 1% and in March there is an increase of + 96%.
In absolute monetary values of Albanian exports to China, the data show in January an increase of + 132.7%, in February an increase of + 9.63% and in March an exponential increase of + 250%.
In analyzing the data it is clear that some categories are affected by the pandemic more than others. However, the trend of certain categories of goods such as machinery and equipment, textiles, metal-based articles and plastics are still the main point of Chinese goods in Albania.
The main jump from one quarter to another are chemicals, vegetables and vehicles. If we analyze the total value of imports from China to Albania in general terms, the highest value is recorded in March 2021 if compared to a year ago. This also makes sense logistically given that Chinese factories were not fully operational during the first months of 2020.
Regarding Albanian exports to China, the expansion in groups is undoubtedly lower than that of imports.
Considering that most Albanian exports to China are 60% chromium ore, 20% copper ore, it is obvious from the above values that the trend is not changing much. On the other hand, it is promising to see that at least in 2021 there is a new window of exports, namely vegetables and prepared food.
A year ago these categories were at zero values, while in 2021 even if it was the amounts are modest, it is still a good sign of the beginning.
The total value of Albanian exports to China in terms of total value, was recorded in March 2021 if compared to the same year earlier.