Business under pandemic, the hardest-hit sectors in Albania and those that benefited

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The economic crisis and the restrictions that accompanied the pandemics have hugely affected the structure of businesses in the country.

Although INSTAT data show that 2020 was concluded with an increasing balance and active enterprises, the figure has been impacted by the increased registration of farmers, who have formalized their activity to benefit from support schemes.

Once analyzing the rest of the businesses in their entirety, the total number of businesses is 1000 lower. The most affected sector is commerce (892 out of 1000), retail and wholesale alike, due to the decreasing consumption. They are followed by restaurants and other food services. With 726 units less, mainly due to the limitation of the physical space and shorter time of business activity.

There were fewer new businesses in the area of services, repairing, and tour operators.

As regards the industry sector, the most affected areas were mineral extraction and leather production & processing.

The crisis opened more possibilities for other businesses as well. Besides the increased number of businesses in agriculture, the main benefactor were businesses that offer specialized works in construction, such as repariring and reconstruction after the earthquake. The forced changes of the IT have increased the number of businesses in this area.

Medical care clinics and pharmacies have also seen a strong increase, followed by delivery services, due to the online purchasing trend.