• Analysis and Studies
• Albania: a look at the market

Overview
In 2022, Albania ranked as the 120th largest economy globally by GDP (current US$), 131st in total exports, 133rd in total imports, 94th in GDP per capita (current US$), and 77th in economic complexity according to the Economic Complexity Index (ECI).

Exports
Albania's main exports include:

• Ferroalloys ($450M)
• Footwear parts ($323M)
• Electricity ($287M)
• Crude petroleum ($280M)
• Leather footwear ($267M)

The top export destinations are Italy ($1.75B), Greece ($421M), Spain ($309M), Germany ($212M), and China ($164M).

Imports
The primary imports are:

• Refined petroleum ($331M)
• Electricity ($218M)
• Cars ($197M)
• Raw iron bars ($182M)
• Packaged medicaments ($178M)

Location
Albania shares land borders with Greece, North Macedonia, Montenegro, and Serbia, and has sea borders with Croatia and Italy.

Trade Balance

• Analysis of Footwear Parts Trade (2022)

In 2022, Albania demonstrated a strong net trade surplus of $226M in the footwear parts sector, highlighting its role as a significant exporter in this industry.

Exports

With exports valued at $323M, footwear parts represent a key component of Albania's trade portfolio. Italy was the dominant market, accounting for $296M (over 91%) of total exports. This reflects the strong economic ties and integration of Albania’s manufacturing sector with Italy’s footwear industry. Other export destinations, such as Bosnia and Herzegovina ($8.03M), Romania ($5.79M), Portugal ($5.75M), and Serbia ($2.9M), also indicate Albania’s growing regional and European trade network in this sector.

Imports

On the import side, Albania spent $97.6M on footwear parts, with Italy again being the largest partner, supplying $85.3M worth of goods. This reliance underscores a two-way trade relationship, where Italy serves both as a supplier of materials and a major consumer of Albania's finished products. Other suppliers, including India ($4.98M), China ($3.43M), Germany ($1.57M), and Turkey ($656k), diversify Albania's sourcing for raw materials and components.

Net Trade Position

The substantial surplus of $226M demonstrates Albania’s competitive advantage in footwear parts production and its ability to add significant value to imported materials before re-exporting them. This surplus highlights the efficiency of Albania’s manufacturing sector and its strategic role in global and regional supply chains, particularly in the European footwear market.

Data from BACI HS6 REV. 1992 (1995 - 2022).

The trade data for footwear parts in 2022 illustrates Albania's strong integration into the European manufacturing ecosystem, with Italy serving as both a critical supplier and customer. This sector not only contributes to Albania's export earnings but also showcases its potential to expand its industrial base and strengthen regional economic ties.

Romania offers the greatest export potential for footwear parts, with an identified export gap of $3.19M. On the import side, China presents the highest potential for sourcing footwear parts, with an import gap of $2.79M.

Source: https://oec.world/en/