The car market in Albania returns to "flourishing", registering 47 percent more than last year

During the first quarter of this year, the number of vehicles in Albania increased by 47%, compared to the same period a year ago. In the span of three months, 21,265 vehicles were registered for the first time out of 14,460 vehicles registered in the January-March period of 2023.

The highest number of first-time registrations resulted in the month of March, increasing by 41%, compared to a year ago.

But which country has supplied us with tools during these first three months of the year? According to DPSHTRR data, the three main countries of origin of the funds are Germany, Italy and Korea. From the total number of vehicles registered for the first time, about 18,000 of them are cars.

In recent years, Albania is becoming more and more motorized and the number of vehicles has increased from year to year. Currently, a total of 887,321 active vehicles in circulation or temporarily deregistered are registered.

"Scan Intel" has analyzed in detail some of the chapters regarding foreign trade for the month of March this year. According to the processed figures, we see that the group "Vehicles of transport other than railway wagons" have reached a historical import record. During the month of March, the import value for this chapter is estimated at 8.2 billion lek or about 81 million euros. This value is 48% higher than in the same month of the previous year.

We emphasize that the value of March of this year is the highest since January of 2005. But what can be seen from the data on the trend followed by the figure of imports for this item. Based on the official data of "INSTAT", we see that the second month with the highest value is February of the same year. Last year and the current year seem to have broken the import record in terms of means of transport.

If we extend the analysis for this item on an annual basis, we see that the year 2023, the year with the most complete data, records a level of imports up to 76 billion ALL, an increase of 39%, compared to 2022.