Macroeconomic Forecast AlbaniaJuly 2007 | Macroeconomic Forecasts
Albania's export sector continued to perform strongly during the first five months of the year, with export growth increasing by 25.7% y-o-y to ALL39.3bn (up from 2006's full year growth figure of 18.0%). At the same time, on the back of surging consumer demand, imports jumped by almost 28% y-o-y to ALL145.1bn during the same period, widening the trade deficit to more than ALL105.0bn (or 10.6% of estimated GDP in 2007). These developments are in line with our forecasts, and we currently project that the year-end trade deficit will come in at 24.3% of GDP, taking the current account shortfall to 7.9% of GDP (up from 7.6% in 2006).
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