Albanian economy paradox up, tourism increases, but consumption decreases

Albania is facing a genuine economic paradox, as the government reports popular tourism growth, but official figures speak of overall consumer contraction.

The Statistics Institute reported that imports of goods fell back in June by 0.2 percent compared to the same month last year.

As six months ago, Albania's imports this year are 2 per cent lower than a year ago. In value, Albania has imported less goods from abroad for the first 6 months of 100m euros.

This situation of reducing imports is accompanied by the decline of domestic production, especially in key sectors of the economy such as agriculture or industry.

In the first quarter of the year, the country's agricultural output contracted by 2.76 percent, while industrial output dropped by 5.66 percent. These developments in the real sector of the economy come as the government reports tourism growth. So Albania has more tourism, but less consumption.

Crossing the leading indicators shows that the Albanian economy is facing consumer repression this year, while importing less and simultaneously producing less in the country.

Meanwhile, another signal from foreign trade figures is that of curbing investments from business as evidenced by the import of machinery and the contraction of construction, signaling the decline of import of construction materials. /Capital. al/Periscopi/