Most of the income of Albanian families goes to food, while the prices of products are more expensive than those of the countries of the region.
According to the latest data from Eurostat, the statistical office of the European Union, the nominal expenditure on food (measured according to the purchasing power standard) in Albania was 31% of the Gross Domestic Product (GDP). This figure is the highest in Europe and much more than the average 6.3% of the European Union's GDP.
Food prices in Albania are 83.7% of the European Union average, the third most expensive in the region, after Serbia (89.7%) and Montenegro (85.8%). The cheapest in the region are the prices in North Macedonia, with 68.2% of the EU average.
For bread and cereals, 4.3% of GDP is spent in Albania, from 1.1%, which is the European average. For milk, cheese and eggs, spending is again a record at 5.1% of GDP, down from just 1% which is the EU average.
Albanian families buy these products 11.8% more expensive than the European average, among the most expensive in Europe, although we are a country where agriculture brings about 20% of the economy.
The record expenses are also for oils and fats, at 1.5% of GDP, from 0.2% which is the European average, while these products are bought almost 9% more than the European average. 11.8% of GDP is spent on fruits and vegetables, again the highest in Europe, from 1.4% which is the European average. Even for meat, Albania leads, with expenses reaching 6% of GDP, from 1.4% which is the EU average.
For fish, expenses are 1.1% of GDP, from 0.4% EU average. Fish costs 81% of the European average. Although Albania is a coastal country, in North Macedonia you can find fish cheaper, 68.5% of the EU average, according to Eurostat.
Read the full article at Monitor.al .
