Customs/ 3-month income, about 500 million euros

2024-04-12 08:00:00, Ekonomi CNA

Revenues from customs in the first 3 months of 2024 have recorded a steady increase, exceeding the figure of 50 billion ALL, or about 500 million euros.

According to the operational data from the Customs, compared to the 3rd month of 2023, about +2.2 billion ALL were realized, or about 22 million euros more. Customs announced that this progress has come from good administration and increased performance

The positive performance in customs revenues continues to grow steadily, despite the negative effects of the exchange rate, especially VAT on imports, due to the devaluation of the euro and the US dollar, since under the conditions of a stable exchange rate we would have about 5 billion lek more in the budget, explained the customs.

The main excise revenue for the first quarter was +997 million ALL, which generally came from the increase in the import of fuel by about +500 million ALL (increase in the amount consumed by about 6,600 tons), Cigarettes by +500 million ALL and Gas with +98 million ALL.

Since Excise is a tax on quantity, it is directly unaffected by the exchange rate, and as seen from official data, all items have performed positively.

The graphs of excise goods show that all excise goods have a very good performance in revenue compared to III-month 2023, as the quantity in consumption of the cigarette item is +42 Tons, Fuel +6,600 Tons, Beer +2,400 Tons and Coffee +93 tons, thus reaching the highest historical levels of customs clearance of the main excise products.

During the January-March quarter, the increase in income as a result of the increase in import amounts is 5.8 billion ALL, but this amount was affected by the effect of the drop in prices and the negative effects of the exchange rate of 3.4 billion ALL. resulting in an increase of only +2.4 billion lek in total.

Even the Bank of Albania, in the latest report, has confirmed that "... the analysis of available data suggests that the economic activity in the country has continued to grow. Economic growth has been fueled by the expansion of consumption and private investments, by the increase in the export of services, as well as by the acceleration of the pace of realization of public expenditures"./ Monitor