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Albania's H1 C/A Gap Widens 8.0% to 681.3 Mln Euro - Table

Sep 18, 2009, 1:02:24 PMArticle by Plamena Stoyanova
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September 18 (SeeNews) - Albania's current account deficit rose by 8.0% on the year to 681.3 million euro ($1.0 billion) in the first half of 2009, the country's central bank said on Friday.

Albania's H1 C/A Gap Widens 8.0% to 681.3 Mln Euro - Table

Albania’s current account gap in 2008 was 1.3 billion euro, equivalent to 15.2% of the country's gross domestic product (GDP), versus 831 million euro deficit, or 10.5% of GDP, in 2007.

ALBANIA BALANCE OF PAYMENTS (in millions of euro):

H1'09 H1'08 Q2'09 2008
CURRENT ACCOUNT BALANCE -681.3 -630.8 -359.8 -1,318.8
-Trade balance -1,083.8 -1,088.6 -567.4 -2,431.5
- Services -39.8 -21.2 -18.4 +69.5
- Net income -14.9 +3.1 -10.6 +106.4
- Current transfers +455.4 +476.0 +236.6 +963.8
CAPITAL ACCOUNT +35.8 +30.6 +16.2 +78.2
FINANCIAL ACCOUNT +674.4 +508.9 +417.5 +1,454.6
Direct Investments +424.1 +193.4 +301.8 +590.5
Total Balance +10.7 -17.1 +141.6 +191.9

Albania’s economy grew by a real 7.2% last year, faster than the 6.1% growth target and the 6.0% rise recorded in 2007. The government has projected nominal GDP growth of 6.3% to 1.18 trillion leks ($11.9 billion/9.0 billion euro) this year.

($=0.6806 euro)

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