Zeszyt naukowy - całość - Wydział ZarzÄ dzania i Ekonomiki Usług

The global financial crises impact… 21
Figure 2. Gross domestic product per capita (euro)
Source: INSTAT Albania.
Albania's trade imbalance is severe. Albania continues to be an importoriented
economy and the export base remains small, narrow, and un diversified,
mainly due to a lack of price competitiveness, poor infrastructure, and a challenging
business environment.
In 2008, Albanian imports amounted to $5,25 billion and exports were $1,35
billion. The trade deficit continues to widen and, according to the estimates of the
Ministry of Finance, it reached 26% of GDP in 2008, up from 23,3% in 2006 3 .
The Albanian Government signed a free trade agreement (FTA) with the European
Union (EU) as part of its Stabilization and Association Agreement negotiations.
The interim agreement entered into force in December 2006, with a duty-free
regime for almost 90% of agricultural and industrial products. On the fiscal side it
will also significantly reduce the revenue collection. Albania has signed FTAs with
Macedonia, Croatia, Bulgaria, Romania, Bosnia, Turkey, and Moldova.
Figure 3. Deficit of current account and trade balance (million USD)
Source: Bank of Albania.
3
2008 Yearly Fiscal Report, Albanian Ministry of Finance.