bne IntelliNews – Albania’s import price index drops

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Albania’s Import Price Index (IPI), which measures changes in import prices, fell 1.4% year-on-year in the fourth quarter of 2017, after declining 1.7% in year-on-year change to the previous quarter, according to data from the statistical agency. The index reached 95.5% compared to the 2012 reference year.

The index fell in the fourth quarter primarily due to a decline in key manufacturing. Albania has historically recorded a substantial trade deficit caused by its narrow production and export base.

The main sources of imports to Albania are Italy, Germany, China, Greece, Germany and Turkey. Minerals and fuels, machinery and equipment, food and beverages, construction materials, chemicals and plastics, and textiles and footwear are the import sectors with the highest values.

The IPI in the mining and quarrying sector rose 1% year-on-year and fell 1.6% year-on-year in the manufacturing sector in the fourth quarter, the data showed.

The index jumped 12.8% yoy in the electricity, gas, steam and air conditioning sectors and rose 0.6% yoy in the water supply and of water management.

Compared with the previous quarter, the import price index rose 0.4% in the fourth quarter, after falling 0.8% in the previous quarter.


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