Albania's Foreign Trade During the Period 1945-1961: Impact of Rapid Industrialisation Strategy
Year: 2024
Type: article
Abstract: In the People's Republic of Albania, foreign trade played an important role in the national economy because it provided machinery, equipment, consumer goods, and technological expertise that Albania could not produce on its own. Moreover, by engaging in trade initially with the Soviet bloc and later with China, Albania was able to secure the capital required for industrialization without putting undue pressure on its economy. This was due to the absence of immediate payment obligations, the flexibility of loan terms, and the frequent conversion of loans into grants. Foreign trade also indirectly reflected the internal economic situation of Albania, the crises in its relations with other communist countries, and the flow of capital in the economy. Therefore, for the objectives of this study, it is essential to consider this economic sector.
Author: Guxho, Genti
Institution: Polytechnic University of Tirana
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W6930665252
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