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Albania's 9-mo C/A Gap Widens 58% Y/Y to 843 Mln Euro - Table

Dec 5, 2008, 12:11:18 PMArticle by Plamena Stoyanova
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December 5 (SeeNews) - Albania's nine-month current account deficit widened by 58% year-on-year to 842.9 million euro ($1.1 billion), the country's central bank said on Friday.

Albania's 9-mo C/A Gap Widens 58% Y/Y to 843 Mln Euro - Table

Foreign direct investments (FDI) in the country rose by an annual 2.6% in the nine-month period of 2008 to 380 million euro, the central bank said.

Albania’s current account gap in 2007 was 878.1 million euro, equivalent to 11% of the country's gross domestic product (GDP), versus 535.1 million euro or 7.3% of GDP in 2006.

ALBANIA BALANCE OF PAYMENTS (in millions of euro):

9-mo'08 9-mo'07
CURRENT ACCOUNT BALANCE -842.9 -533.4
- Trade balance -1,698.5 -1,470.8
- Services -10.0 0.0
- Net income +193.5 +171.7
- Current transfers +672.0 +768.6
CAPITAL ACCOUNT BALANCE +57.9 +65.2
FINANCIAL ACCOUNT BALANCE +709.5 +575.8
Foreign direct investments +380.0 +370.5

Albania’s 2007 GDP reached 980 billion leks in current prices, up by a real 6.0%. In 2006 the country's GDP rose to 896 billion leks, up by real 5.0%.

($=0.7831 euro)

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