External Sector Developments in the Albanian Economy during 2008

The overall balance of payments for 2008 recorded a growth of foreign assets of Eur 192 million. The year ended with a current account deficit of Eur 1.291 million, reaching about -14.9 per cent of GDP. Compared to 2007, the deficit rose by about Eur 460 million, from Eur 831 million. Merchandise trade deficit deepened by Eur 310 million during 2008, amounting to Eur 2,415 million from Eur 2,104 million. Capital inflows accounted for 1.556, totally financing the current deficit.