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Which business sectors were credited the most in 2013?

2024-03-12 13:43:50Biznes SHKRUAR NGA REDAKSIA VOX

Which business sectors were credited the most in 2013?

Banks gave 217 billion ALL in loans to private businesses last year. According to statistics from the Bank of Albania, new business loans increased by 16% compared to 2022.

The data show that, among the sectors with significant weight, the highest growth was recorded in real estate activity, transport and trade.

Trade remains dominant in the structure of credit to the economy, with almost 37% of the total volume of new disbursements. In value, the new credit for trade in 2023 reached 80 billion ALL, increasing by 27% compared to 2022.

Although domestic demand has shown signs of weakness, also due to the significant increase in prices after 2022 and immigration, the increase in the number of foreign tourists seems to have partially offset this effect.

The second most credited sector of the economy last year was construction, with a new loan value of 39.6 billion ALL, or 18.2% of the total. Construction credit, however, grew at a slower pace, 6.7% more compared to 2022.

Construction credit is experiencing a new cycle of growth, driven by developments in the real estate sector, especially in the capital and the coast.

The increase in property prices in recent years has also encouraged the banking sector to support investments in this sector, although a part of the portfolio may also be linked to loans for infrastructure investment contracting firms.

The third most credited sector of the economy was the processing industry, with 24.8 billion ALL, or 11.4% of the total. New credit for the manufacturing industry increased by 17% compared to 2022.

The sector of real estate activity marked a high increase in lending, with 164% compared to 2022, and that of transport and storage, with 88% more.

A sector that suffered a significant decrease in lending last year was electricity, with 32% less compared to 2022.

The agricultural sector last year recorded loans in modest amounts, with a total of 2.7 billion ALL, with an increase of 5.6% compared to the previous year. Credit to agriculture is not achieving any significant boost, despite the application of various financing relief schemes and occasional discussions about the need to increase the support of this sector with loans.

According to the experts of commercial banks, the biggest problems in agricultural lending are related to the lack of guarantees and collaterals for loans, the lack of information, technical knowledge and management skills of farmers, the high fragmentation of land (small farms) and consequently the lack economies of scale and lack of cooperation between farmers to secure large order contracts, joint use of warehouses, etc.

In general, the new credit data is in line with the economic trends of recent years, which show an increase in the share of the real estate and services sector in the economy.


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