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Foreign investors in Albania record profits even in the third quarter of the year

2023-12-21 13:01:00Biznes SHKRUAR NGA REDAKSIA VOX

Foreign investors in Albania record profits even in the third quarter of the

The profits of foreign investors in Albania again reached a record value in the third quarter of the year.

The data of the balance of payments show that the income of foreign investors reached the value of 257 million euros, increasing by 16.3% compared to the same period of the previous year. The amount of investment income represents the distributed or reinvested profits of foreign investors in our country.

For the entire 9-month 2023, they reached the value of 719 million euros, an increase of almost 15% compared to the same period of the previous year. in Albania for the period and this year has marked the highest historical level.

In the opposite direction, the incoming flows of income from investments (income of the Albanian economy from investments abroad) for the 9th month of 2023 increased to 139 million euros, 53% more compared to the same period a year ago .

However, the net balance of investment income was largely negative in the amount of 580 million euros. The deficit in this item increased by 8.6% compared to the previous year.

Given that foreign investments in Albania are much larger than Albanian investments abroad, clearly the net balance of investment income has historically been negative.

The increase in the profits of foreign investors in recent years can be explained by several factors.

The rapid recovery of the economy after the pandemic has also brought positive effects to foreign companies operating in Albania.

However, a good part of the increase can be attributed to the strengthening of the lek in the exchange rate with the euro. For the 9th month of 2023, the average exchange rate between the Euro and the Lek was 8% lower compared to the same period a year ago, while in certain annual periods the exchange rate reached up to 14%.

Foreign companies generally provide their income in Lek, while they distribute profits to shareholders in foreign currency. The strengthening of the lek has caused the same amount of local currency to be translated into a higher value in foreign currency, mainly in euros. For this reason, among the actors who have benefited from the fall of the euro in the exchange rate, there are also foreign investors.

Since a good part of the profits are not distributed, but reinvested, the strengthening of the Lek, indirectly, has also influenced the growth of foreign investments in recent years.

Reinvested profits in recent years have taken the main weight in the structure of foreign direct investments. For the 9th month of 2023, the value of profits reinvested by foreign enterprises reached 575 million euros, 8% more compared to the same period last year. Reinvested profits accounted for 53% of the total value of foreign direct investments for the 9th month of 2023.


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