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Imports of major excise goods have not been hampered by the high prices offered by international markets this year.
On the contrary, the import of the main goods of excise, oil, coffee and beer marked historical records since 1990 when Albania opened to the world, while the import of cigarettes remained normal.
Official data from the Ministry of Finance indicate that oil imports have reached 561 thousand tons during the 11-month period with an increase of 17% compared to last year in this period. Also, fuel imports were the highest ever recorded in these 30 years. In 2021, hydrocarbon imports were 43% higher than the historical average. Sources from the market pay that the growth was driven by high demand and the lack of functioning of ARMO.
In the international market a barrel of oil cost about $ 74 yesterday. From the beginning of the year, the peak reached in October where a barrel sold for over 85 USD. The lowest value was at the beginning of the year in January 2021 at about $ 45 per barrel. During this year, the price of oil has increased several times, reaching about 184 ALL currently. Compared to the low level of about 148 lek, which reached during the pandemic period, oil in the country has risen in price by 36 lek per liter, or about 20%.
Cigarette imports saw a more moderate increase. During the 11-month period 2021 they reached 2648 tons with an increase of 9% from 2020. Despite the increase, the import of cigarettes remained below the pre-crisis level (2019) where in the same period 2736 tons of cigarettes were imported. Coffee imports also hit historic highs. In the 11-month period 2021, 8268 tons were imported, the highest level since 1990. During 2021, coffee imports increased by 11%, while in international markets prices reached record levels.
Beer imports had the strongest annual growth of over 23%, compared to 2020, also breaking historical import records. The increase in imports of excise goods in quantity and value is the main factor in increasing budget revenues during this year. In the fiscal package of 2022, the government adopted a law that indexes excise at a fixed value with the level of inflation. If the average inflation in 2022 will increase by 2.5% at this level, excises will also increase.
Official data show that excise revenues have been realized in the amount of ALL 46.6 billion, ALL 6.6 billion or 16.6% more than in 2020, as well as ALL 1.9 billion or 4.2% more than the excise plan for the 11-month period 2021. As As a result of rising prices, citizens pay more of the taxes levied as a percentage of prices./Monitor
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