INTERNATIONAL TRADE REPORT ON ADRIATIC AND IONIAN AREA. STATISTICS DATA Update 2014

INTERNATIONAL TRADE REPORT ON ADRIATIC AND IONIAN AREA STATISTICS DATA Update 2014 Ancona, May 2015

The aim of this work is to provide a contribution to identify the economic and commercial dimension of the Adriatic and Ionian area and the opportunities that the establishment of the Adriatic Macro-region can offer to the potential investors. Data presented in this report have been obtained from the International Monetary Fund (www.imf.org) and Eurostat (http://epp.eurostat.ec.europa.eu/portal/page/portal/eurostat/home) databases, as well as from the databases of the Statistical Offices of individual countries. The results therefore refer to the entire national economies and are not focused on the coastal areas that will be part of the future Macro region, with the exception of Italy, for which only the 10 regions officially included in the AIM have been considered. This report have been realised by Andrea Mosconi of the Chamber of Commerce of Ancona. 2

1 The Adriatic Ionian Macroregion 1.1 Recent economic situation and forecasts for the next few years The important signals of economic recovery announced in 2013 have been transformed in real growth for some countries of the Adriatic and Ionian macro region even if complete recovery is waited only for 2015. The big event of 2014 is the fact that Greece has passed the big crisis, but for the moment only figures and not real facts give the idea of a turning point. Its GDP grew at the a rate of 0,8% in 2014 and better performances are expected for 2015 and 2016 but it is still not enough to go beyond the debt crisis and the huge burden of the passive interest that the government has to pay to its creditors. The biggest AI country, Italy, reduced again its GDP in 2014 even if forecasts were more optimistic and growth should arrive only in 2015. Also Croatia and Serbia passed through a recessive period (Croatian recession has been less intensive than the Serbian one), while Slovenia reversed completely its pace. In 2015 seven countries out of eight should grow with a rate that will be included between the Italian and Croatian 0,5% and the Montenegrin 4,7% and, finally, in 2016 all the Ai countries should live a positive economic period. GDP trend in 2013 and 2014 and forecasts for 2015 and 2016, yearly exchange rate % Country 2013 2014 2015 2016 World 4,4 3,4 3,5 3,8 Euro zone -0,5 0,9 1,5 1,6 Croatia -1,0-0,4 0,5 1,0 Italy -1,7-0,4 0,5 1,1 Greece -3,9 0,8 2,5 3,7 Slovenia -1,1 2,6 2,1 1,9 Albania 1,4 2,1 3,0 4,0 Bosnia and Herzegovina 2,5 0,8 2,3 3,1 Montenegro 3,3 1,1 4,7 3,5 Serbia 2,6-1,8-0,5 1,5 F.Y.R.O. Macedonia 2,7 3,8 3,8 3,9 Kosovo 3,4 2,7 3,3 3,5 Source: IMF, World Economic Outlook, April 2015 Adriatic and Ionian Macroregion project has been created to add value to interventions, whether by the EU, national or regional authorities or the third or private sectors, in a way that significantly strengthens the functioning of the macro-region. It is based on four pillars with the general objective to promote sustainable economic and social prosperity of the Adriatic and Ionian region through growth and jobs creation, by improving its attractiveness, competitiveness and connectivity while at the same time preserving the environment and ensuring healthy and balanced marine and coastal ecosystems. A cross cutting pillars is focused on the promotion of the research and innovation for SMEs. In the AI Marcoregion there are more than 3 million of enterprises and more than the half of them are located in the 10 Adriatic and Ionian Italian regions (Friuli Venezia Giulia, Veneto, Emilia-Romagna, Marche, Abruzzo, Molise, Puglia, Basilicata, Calabria e Sicilia). Problems of dimensional competitiveness are often the consequence of the presence of a large number of companies. 3

Registered business in the AI Macro region countries COUNTRY ENTERPRISES YEAR Albania 111.083 2013 Bosnia Herzegovina 34.591 2013 Croatia 173.350 2014 Greece 726.581 2012 Montenegro 21.127 2011 Serbia 87.529 2013 Slovenia 182.089 2013 Italy Adriatic and Ionian regions 1.719.258 2014 Total 3.055.608 Source: National Institutes of Statistics, Eurostat Last year international trade among AI Macro region countries amounted to less than 29 billion euro, 8% more than the previous year. Eastern Adriatic countries represent an interesting destination for the 10 Adriatic Italian regions but they don't represent a consistent commercial destination, while for the other AI countries internal traffic are highly important. More than 60% of the Montenegrin export is addressed to one of the other Ai countries and just a little below this threshold there is Albania with its export; interesting focused rates concern also Bosnia and Herzegovina, Croatia and Serbia. On the opposite side, Greek and Slovenian export flows are addressed to the a wider group of countries, even if AI area remains an important destination for local enterprises. Italy represents the first or the second commercial partner for all the other 7 countries in term of export, while it is among the first 3 if we consider import (except Montenegro). 2,8 billion export among AI countries amounts to 12% of the entire export of the 8 countries (11,2% in 2013). Export to the AI Macro region countries in 2012-2014, total export and share of the AI countries. Figures in Millions of euro COUNTRY 2012 2013 2014 Var. 12/13 Exp Tot % AI Albania 858 906 1.033 14,02% 1.787 57,81% Bosnia Herzegovina 1.904 2.000 2.018 0,90% 4.429 45,56% Croatia 4.225 4.000 4.642 16,05% 10.346 44,87% Greece 3.283 3.460 3.498 1,10% 27.231 12,85% AI Italian regions 7.450 6.661 7.215 8,32% 163.188 4,42% Montenegro 297 278 208-25,18% 333 62,46% Serbia 3.150 4.150 4.318 4,05% 11.157 38,70% Slovenia 5.337 5.300 5.910 11,51% 23.049 25,64% TOTAL 26.504 26.755 28.842 7,80% 238.723 12,08% Source: National Institutes of Statistics 4

2 Trade between Italy and the Adriatic Ionian macro region 2.1 Adriatic and Ionian Italian Regions* * Adriatic and Ionian Italian regions are: Friuli Venezia Giulia, Veneto, Emilia-Romagna, Marche, Abruzzo, Molise, Puglia, Basilicata, Calabria and Sicilia. All data and tables about external trade are referred to this geographic area. Trend of Italian export to Adriatic Ionian macro region countries Figures in euro EXPORT 2011 2012 2013 2014 Var. % 13/14 AGRICULTURE, FORESTRY AND FISHING 176.650.070 172.504.428 177.614.267 205.390.147 15,6% MANUFACTURING 7.485.061.844 7.212.955.069 6.427.952.376 6.949.790.329 8,1% Food, beverages and tobacco 406.554.665 590.200.588 512.302.375 694.261.135 35,5% Textiles, clothing, leather and accessories 828.306.538 788.500.059 848.423.405 1.067.959.181 25,9% Wood and wood products, paper and printing 229.553.671 211.818.872 227.911.791 224.598.442-1,5% Cook and refined petroleum products 167.200.378 141.249.088 530.927.491 1.391.058.623 162,0% Chemical substances and products 149.441.507 131.254.541 146.973.227 503.469.496 242,6% Pharmaceutical articles, chemical and botanic 4.722.894 5.598.392 6.444.248 80.411.325 1147,8% Rubber and plastic materials, non metallic mi. 184.229.885 168.529.990 159.667.181 516.145.046 223,3% Basic metals and fabricated metal products 697.951.322 607.839.857 549.123.601 832.082.566 51,5% Computers, electronic and optical 65.907.629 36.573.931 30.872.797 68.818.384 122,9% Electrical appliances 140.521.093 129.823.772 132.977.151 331.588.137 149,4% Machinery and equipment 141.037.128 126.207.698 127.438.540 632.592.926 396,4% Transport means and equipment 254.042.224 243.119.269 64.929.340 272.418.821 319,6% Miscellaneous manufactured articles 168.318.585 170.659.833 173.081.579 334.386.247 93,2% OTHER GOODS AND SERVICES 69.547.185 64.686.316 55.457.514 59.512.057 7,3% TOTAL 7.731.259.099 7.450.145.813 6.661.024.157 7.214.692.533 8,3% Source: ISTAT 5

Trend of Italian import from Adriatic Ionian macro region countries Figures in euro IMPORT 2011 2012 2013 2014 Var. % 13/14 AGRICULTURE, FORESTRY AND FISHING 543.759.176 474.521.602 397.943.297 491.519.027 23,5% MANUFACTURING 3.437.787.519 3.351.375.890 3.511.072.726 3.702.067.526 5,4% Food, beverages and tobacco 616.970.357 647.137.883 667.787.474 436.745.196-34,6% Textiles, clothing, leather and accessories 1.024.075.921 928.721.152 947.078.956 952.505.524 0,6% Wood and wood products, paper and printing 220.007.099 210.708.445 207.963.984 267.135.741 28,5% Cook and refined petroleum products 1.618.846.610 1.937.028.288 1.203.143.823 513.235.998-57,3% Chemical substances and products 516.699.844 465.756.367 476.138.110 194.384.383-59,2% Pharmaceutical articles, chemical and botanic 103.083.428 96.070.326 83.214.562 2.845.621-96,6% Rubber and plastic materials, non metallic mi. 568.619.131 506.706.374 501.943.414 170.743.767-66,0% Basic metals and fabricated metal products 972.621.034 814.655.183 785.481.311 593.865.846-24,4% Computers, electronic and optical 98.585.547 105.878.650 59.556.813 36.005.369-39,5% Electrical appliances 428.359.608 339.703.337 330.640.957 134.384.309-59,4% Machinery and equipment 628.759.951 556.914.320 553.053.629 138.763.410-74,9% Transport means and equipment 305.760.686 275.915.674 298.667.890 76.412.222-74,4% Miscellaneous manufactured articles 382.672.628 327.759.070 313.281.453 185.040.140-40,9% OTHER GOODS AND SERVICES 365.669.290 392.613.000 406.824.257 367.283.547-9,7% TOTAL 4.347.215.985 4.218.510.492 4.315.840.280 4.560.870.100 5,7% Source: ISTAT 6

2.2 Greece Trend of Italian export to Greece Figures in euro EXPORT 2011 2012 2013 2014 Var. 13/14 AGRICULTURE, FORESTRY AND FISHING 52.023.687 50.943.382 43.325.829 44.612.711 3,0% MANUFACTURING 2.151.486.727 1.952.366.985 1.692.337.606 1.659.490.391-1,9% Food, beverages and tobacco 166.380.002 177.025.853 283.956.850 292.717.448 3,1% Textiles, clothing, leather and accessories 44.045.163 29.621.102 222.743.577 220.789.995-0,9% Wood and wood products, paper and printing 8.129.952 8.764.437 55.615.997 58.416.452 5,0% Cook and refined petroleum products 62.826.701 34.640 125.716.860 40.290.321-68,0% Chemical substances and products 29.754.971 19.936.781 211.530.843 213.693.976 1,0% Pharmaceutical articles, chemical and botanic 3.634.268 3.724.916 66.500.513 64.516.220-3,0% Rubber and plastic materials, non metallic mi. 26.958.113 32.885.003 131.749.568 137.771.837 4,6% Basic metals and fabricated metal products 147.478.525 186.847.491 161.339.053 173.353.350 7,4% Computers, electronic and optical 8.129.335 4.452.036 21.848.858 25.638.585 17,3% Electrical appliances 16.795.700 13.056.343 74.497.124 79.751.607 7,1% Machinery and equipment 19.690.787 12.123.105 144.206.604 184.492.237 27,9% Transport means and equipment 4.961.375 168.681.588 79.140.273 45.350.160-42,7% Miscellaneous manufactured articles 1.409.547 2.053.003 113.491.486 122.708.203 8,1% OTHER GOODS AND SERVICES 22.210.935 17.380.923 8.450.979 5.164.247-38,9% TOTAL 2.225.721.349 2.020.691.290 1.744.114.414 1.709.267.349-2,0% Source: ISTAT Trend of Italian import from Greece Figures in euro IMPORT 2011 2012 2013 2014 Var. 13/14 AGRICULTURE, FORESTRY AND FISHING 213.234.035 177.746.527 163.806.683 216.841.358 32,4% MANUFACTURING 540.194.439 659.206.298 830.655.899 772.138.683-7,0% Food, beverages and tobacco 282.173.346 283.185.899 203.219.443 150.108.383-26,1% Textiles, clothing, leather and accessories 281.330.576 234.824.127 29.744.585 24.629.694-17,2% Wood and wood products, paper and printing 66.754.662 63.274.434 11.480.312 10.253.387-10,7% Cook and refined petroleum products 235.467.038 311.674.778 325.065.849 310.811.344-4,4% Chemical substances and products 235.149.474 216.875.060 30.680.814 43.253.150 41,0% Pharmaceutical articles, chemical and botanic 85.623.405 78.545.213 4.144.967 1.152.525-72,2% Rubber and plastic materials, non metallic mi. 176.804.019 135.864.591 24.297.371 24.402.696 0,4% Basic metals and fabricated metal products 209.857.970 177.991.049 174.278.090 176.612.745 1,3% Computers, electronic and optical 22.611.102 56.985.532 3.408.649 4.552.906 33,6% Electrical appliances 135.407.809 88.236.666 12.522.817 16.430.938 31,2% Machinery and equipment 218.576.766 153.611.489 7.904.760 6.741.099-14,7% Transport means and equipment 45.908.990 38.134.017 823.922 1.065.990 29,4% Miscellaneous manufactured articles 155.821.570 113.164.130 3.084.320 2.123.826-31,1% OTHER GOODS AND SERVICES 19.900.297 15.306.750 13.267.570 45.592.526 243,6% TOTAL 773.328.771 852.259.575 1.007.730.152 1.034.572.567 2,7% Source: ISTAT 7

2.3 Slovenia Trend of Italian export to Slovenia Figures in euro EXPORT 2011 2012 2013 2014 Var. % 13/14 AGRICULTURE, FORESTRY AND FISHING 83.421.571 77.109.708 79.787.282 83.528.535 4,7% MANUFACTURING 2.328.166.036 2.485.166.380 1.948.514.234 2.011.675.234 3,2% Food, beverages and tobacco 118.085.502 129.887.150 138.681.285 136.386.067-1,7% Textiles, clothing, leather and accessories 118.120.109 99.775.258 94.096.496 103.610.729 10,1% Wood and wood products, paper and printing 60.904.070 56.974.568 61.014.156 64.545.888 5,8% Cook and refined petroleum products 764.528.567 1.098.986.094 617.403.805 612.514.368-0,8% Chemical substances and products 114.472.073 116.595.110 113.927.252 125.061.806 9,8% Pharmaceutical articles, chemical and botanic 4.627.386 4.272.380 5.009.448 4.036.054-19,4% Rubber and plastic materials, non metallic mi. 152.083.411 142.905.305 141.778.959 139.974.731-1,3% Basic metals and fabricated metal products 406.895.440 309.912.927 288.583.293 301.524.387 4,5% Computers, electronic and optical 29.625.507 18.143.228 14.877.701 20.734.971 39,4% Electrical appliances 142.912.650 114.709.690 118.337.065 111.765.256-5,6% Machinery and equipment 152.710.814 144.415.668 138.373.494 159.299.949 15,1% Transport means and equipment 154.731.380 144.664.111 120.198.244 138.925.975 15,6% Miscellaneous manufactured articles 108.469.127 103.924.891 96.233.036 93.295.053-3,1% OTHER GOODS AND SERVICES 37.635.142 40.252.461 36.600.577 37.824.793 3,3% TOTAL 2.449.222.749 2.602.528.549 2.064.902.093 2.133.028.562 3,3% Source: ISTAT Trend of Italian import from Slovenia Figures in euro IMPORT 2011 2012 2013 2014 Var. % 13/14 AGRICULTURE, FORESTRY AND FISHING 202.898.413 173.818.914 98.255.861 130.331.996 32,6% MANUFACTURING 1.083.936.579 1.177.896.924 1.116.163.195 1.112.667.732-0,3% Food, beverages and tobacco 185.197.562 367.918.450 248.939.753 222.648.309-10,6% Textiles, clothing, leather and accessories 21.030.696 24.774.793 29.113.042 39.948.889 37,2% Wood and wood products, paper and printing 84.409.853 72.618.268 84.372.753 91.593.118 8,6% Cook and refined petroleum products 66.798.823 112.479.061 142.313.252 125.020.908-12,2% Chemical substances and products 66.853.638 55.225.222 63.752.909 75.658.466 18,7% Pharmaceutical articles, chemical and botanic 530.382 1.217.167 1.566.189 799.238-49,0% Rubber and plastic materials, non metallic mi. 95.603.372 79.934.493 75.319.902 78.087.899 3,7% Basic metals and fabricated metal products 205.439.463 155.376.047 167.524.023 172.827.342 3,2% Computers, electronic and optical 17.750.911 17.362.922 13.114.932 17.575.102 34,0% Electrical appliances 50.255.169 46.355.596 48.219.235 43.525.090-9,7% Machinery and equipment 68.264.836 65.111.012 73.598.842 73.338.923-0,4% Transport means and equipment 98.323.845 54.792.989 43.400.318 47.017.780 8,3% Miscellaneous manufactured articles 123.478.029 124.730.904 124.928.045 124.626.668-0,2% OTHER GOODS AND SERVICES 142.338.674 125.442.881 126.315.522 123.842.829-2,0% TOTAL 1.429.173.666 1.477.158.719 1.340.734.578 1.366.842.557 1,9% Source: ISTAT 8

2.4 Bosnia and Herzegovina Trend of Italian export to Bosnia and Herzegovina Figures in euro EXPORT 2011 2012 2013 2014 Var. 13/14 AGRICULTURE, FORESTRY AND FISHING 1.236.100 1.180.588 1.329.720 1.731.126 30,2% MANUFACTURING 376.718.568 368.579.548 351.134.523 360.901.238 2,8% Food, beverages and tobacco 22.005.079 21.926.056 22.407.852 22.236.671-0,8% Textiles, clothing, leather and accessories 90.920.138 96.609.164 115.856.340 139.670.139 20,6% Wood and wood products, paper and printing 16.806.455 18.375.691 17.019.950 17.286.970 1,6% Cook and refined petroleum products 76.983.279 69.018.466 31.664.394 310.813-99,0% Chemical substances and products 22.575.159 23.496.013 22.868.467 25.189.005 10,1% Pharmaceutical articles, chemical and botanic 1.076.225 1.121.889 1.224.364 1.052.897-14,0% Rubber and plastic materials, non metallic mi. 37.089.416 33.848.983 35.956.641 38.805.811 7,9% Basic metals and fabricated metal products 44.546.903 41.320.288 45.641.941 51.179.797 12,1% Computers, electronic and optical 2.645.446 2.156.461 1.943.459 2.181.282 12,2% Electrical appliances 7.113.734 7.212.799 7.896.138 8.087.662 2,4% Machinery and equipment 29.408.064 32.746.267 29.262.674 32.349.566 10,5% Transport means and equipment 15.015.738 8.846.627 7.683.825 6.696.733-12,8% Miscellaneous manufactured articles 10.532.932 11.900.844 11.708.478 15.853.892 35,4% OTHER GOODS AND SERVICES 912.152 1.282.123 995.862 713.350-28,4% TOTAL 378.866.820 371.042.259 353.460.105 363.345.714 2,8% Source: ISTAT Trend of Italian import from Bosnia and Herzegovina Figures in euro IMPORT 2011 2012 2013 2014 Var. 13/14 AGRICULTURE, FORESTRY AND FISHING 22.693.260 19.911.663 20.083.328 20.433.767 1,7% MANUFACTURING 241.020.854 236.645.914 269.852.871 353.065.145 30,8% Food, beverages and tobacco 4.592.282 2.793.344 3.563.876 4.150.429 16,5% Textiles, clothing, leather and accessories 128.563.653 117.194.234 146.049.845 195.147.113 33,6% Wood and wood products, paper and printing 20.675.116 20.551.119 24.971.065 29.928.458 19,9% Cook and refined petroleum products 96.299 160.774 7.104.873 21.708.903 205,5% Chemical substances and products 6.819.069 6.180.769 6.777.773 7.799.168 15,1% Pharmaceutical articles, chemical and botanic 345.956 334.987 426.960 380.010-11,0% Rubber and plastic materials, non metallic mi. 5.593.737 4.647.580 4.857.678 4.869.184 0,2% Basic metals and fabricated metal products 48.956.122 56.549.303 41.250.371 40.927.667-0,8% Computers, electronic and optical 25.984 10.572 41.608 2.718-93,5% Electrical appliances 2.190.995 3.192.769 5.014.827 5.641.271 12,5% Machinery and equipment 9.286.584 8.522.647 9.906.128 14.325.165 44,6% Transport means and equipment 2.321.823 3.828.706 5.315.638 7.245.266 36,3% Miscellaneous manufactured articles 11.553.234 12.679.110 14.572.229 20.939.793 43,7% OTHER GOODS AND SERVICES 15.459.233 11.298.373 14.718.566 15.583.357 5,9% TOTAL 279.173.347 267.855.950 304.654.765 389.082.269 27,7% Source: ISTAT 9

2.5 Croatia Trend of Italian export to Croatia Figures in euro EXPORT 2011 2012 2013 2014 Var % 13/14 AGRICULTURE, FORESTRY AND FISHING 22.701.353 25.099.721 36.907.014 57.009.938 54,5% MANUFACTURING 1.454.607.775 1.200.717.955 1.174.579.865 1.484.362.573 26,4% Food, beverages and tobacco 97.819.021 100.229.598 105.875.111 124.332.380 17,4% Textiles, clothing, leather and accessories 209.216.913 185.874.468 178.939.128 231.914.549 29,6% Wood and wood products, paper and printing 35.430.952 32.544.659 32.118.712 36.424.595 13,4% Cook and refined petroleum products 410.785.358 299.402.547 254.997.640 429.227.324 68,3% Chemical substances and products 81.958.712 42.335.265 58.933.032 67.306.318 14,2% Pharmaceutical articles, chemical and botanic 2.071.487 1.922.206 2.330.594 3.274.894 40,5% Rubber and plastic materials, non metallic mi. 112.436.124 100.647.050 106.746.834 112.958.716 5,8% Basic metals and fabricated metal products 173.496.820 154.644.079 152.010.012 175.906.072 15,7% Computers, electronic and optical 30.383.628 15.273.314 10.130.350 11.386.224 12,4% Electrical appliances 73.690.902 68.600.434 69.487.396 74.600.461 7,4% Machinery and equipment 118.906.151 106.605.678 119.338.577 118.641.873-0,6% Transport means and equipment 38.479.570 32.689.416 31.226.369 34.956.506 11,9% Miscellaneous manufactured articles 69.932.137 59.949.241 52.446.110 63.432.661 20,9% OTHER GOODS AND SERVICES 6.372.663 3.403.416 6.959.888 9.778.637 40,5% TOTAL 1.483.681.791 1.229.221.092 1.218.446.767 1.551.151.148 27,3% Source: ISTAT Trend of Italian import from Croatia Figures in euro IMPORT 2011 2012 2013 2014 Var % 13/14 AGRICULTURE, FORESTRY AND FISHING 79.732.499 84.698.379 97.007.127 108.362.066 11,7% MANUFACTURING 839.105.347 629.776.122 623.308.956 662.102.225 6,2% Food, beverages and tobacco 25.488.752 17.807.456 24.740.754 23.087.883-6,7% Textiles, clothing, leather and accessories 275.424.782 262.202.430 238.312.314 196.397.148-17,6% Wood and wood products, paper and printing 86.301.779 78.324.909 75.953.166 95.951.221 26,3% Cook and refined petroleum products 36.503.425 28.519.435 56.441.717 51.996.945-7,9% Chemical substances and products 34.986.113 29.082.795 31.945.766 59.484.895 86,2% Pharmaceutical articles, chemical and botanic 34.692 240.282 292.537 82.684-71,7% Rubber and plastic materials, non metallic mi. 37.733.099 37.871.710 41.503.732 49.246.561 18,7% Basic metals and fabricated metal products 70.541.188 61.829.804 46.884.907 69.262.438 47,7% Computers, electronic and optical 37.891.379 12.221.081 10.991.397 9.704.509-11,7% Electrical appliances 41.841.723 39.864.824 39.579.556 43.902.380 10,9% Machinery and equipment 30.633.193 28.439.338 25.102.932 29.730.716 18,4% Transport means and equipment 142.255.960 12.290.135 11.175.222 13.067.710 16,9% Miscellaneous manufactured articles 19.469.262 21.081.923 20.384.956 20.187.135-1,0% OTHER GOODS AND SERVICES 91.857.175 84.337.179 75.333.070 78.868.023 4,7% TOTAL 1.010.695.021 798.811.680 795.649.153 849.332.314 6,7% Source: ISTAT 10

2.6 Montenegro Trend of Italian export to Montenegro Figures in euro EXPORT 2011 2012 2013 2014 Var. % 13/14 AGRICULTURE, FORESTRY AND FISHING 1.457.696 1.703.390 1.972.158 1.969.492-0,1% MANUFACTURING 64.611.653 65.379.222 78.703.889 68.643.258-12,8% Food, beverages and tobacco 8.343.180 8.880.709 9.353.288 9.534.635 1,9% Textiles, clothing, leather and accessories 16.719.172 16.700.132 18.559.701 20.170.949 8,7% Wood and wood products, paper and printing 2.017.760 1.442.938 1.437.497 1.864.846 29,7% Cook and refined petroleum products 957.017 1.213.940 12.274.447 23.978-99,8% Chemical substances and products 2.361.441 1.963.118 1.477.608 1.481.689 0,3% Pharmaceutical articles, chemical and botanic 77.682 25.799 28.227 29.977 6,2% Rubber and plastic materials, non metallic mi. 7.620.625 8.759.630 9.796.858 8.810.812-10,1% Basic metals and fabricated metal products 5.758.626 5.770.725 6.633.289 5.979.063-9,9% Computers, electronic and optical 3.583.294 4.047.935 815.075 153.557-81,2% Electrical appliances 3.536.209 3.113.987 3.213.960 4.342.358 35,1% Machinery and equipment 4.256.638 3.747.423 4.783.048 6.645.278 38,9% Transport means and equipment 3.543.884 3.639.384 3.976.850 4.072.757 2,4% Miscellaneous manufactured articles 5.836.125 6.073.502 6.354.041 5.533.359-12,9% OTHER GOODS AND SERVICES 51.222 53.642 241.506 149.091-38,3% TOTAL 66.120.571 67.136.254 80.917.553 70.761.841-12,6% Source: ISTAT Trend of Italian import from Montenegro Figures in euro IMPORT 2011 2012 2013 2014 Var. % 13/14 AGRICULTURE, FORESTRY AND FISHING 805.994 281.357 452.280 1.977.985 337,3% MANUFACTURING 20.445.121 16.125.054 5.909.432 8.726.368 47,7% Food, beverages and tobacco 524.197 221.257 562.302 1.231.316 119,0% Textiles, clothing, leather and accessories 630.754 438.518 501.622 689.613 37,5% Wood and wood products, paper and printing 2.690.645 2.145.696 2.380.158 2.274.870-4,4% Cook and refined petroleum products 0 0 0 0 0,0% Chemical substances and products 0 0 0 0 0,0% Pharmaceutical articles, chemical and botanic 0 0 0 0 0,0% Rubber and plastic materials, non metallic mi. 110.039 165.348 55.985 196.258 250,6% Basic metals and fabricated metal products 14.658.810 12.272.167 1.199.027 2.201.866 83,6% Computers, electronic and optical 0 3.830 12.282 3.113-74,7% Electrical appliances 7.580 2.216 13.740 65.926 379,8% Machinery and equipment 1.579.177 850.351 1.157.035 1.137.101-1,7% Transport means and equipment 80.902 4.335 17.500 732.750 4087,1% Miscellaneous manufactured articles 163.017 21.336 9.781 193.555 1878,9% OTHER GOODS AND SERVICES 6.973.132 3.129.047 2.901.001 3.327.049 14,7% TOTAL 28.224.247 19.535.458 9.262.713 14.031.402 51,5% Source: ISTAT 11

2.7 Albania Trend of Italian export to Albania Figures in euro EXPORT 2011 2012 2013 2014 Var 13/14 AGRICULTURE, FORESTRY AND FISHING 11.365.319 10.955.985 8.531.685 12.083.028-22,1% MANUFACTURING 668.976.627 697.172.728 723.982.847 910.253.063 3,8% Food, beverages and tobacco 59.744.850 64.688.387 71.066.329 71.257.842 9,9% Textiles, clothing, leather and accessories 196.620.808 187.312.015 210.572.715 240.975.656 12,4% Wood and wood products, paper and printing 18.554.944 18.642.261 19.494.290 20.133.605 4,6% Cook and refined petroleum products 123.716.955 156.589.531 162.113.528 306.014.274 3,5% Chemical substances and products 26.154.116 26.789.612 29.706.848 33.873.936 10,9% Pharmaceutical articles, chemical and botanic 6.062.695 7.000.621 6.016.374 5.977.969-14,1% Rubber and plastic materials, non metallic mi. 50.972.615 48.518.947 41.734.655 42.220.660-14,0% Basic metals and fabricated metal products 66.983.670 69.955.622 69.180.199 69.593.007-1,1% Computers, electronic and optical 5.070.218 4.804.776 5.177.740 3.772.312 7,8% Electrical appliances 45.129.562 40.434.195 36.315.882 34.504.732-10,2% Machinery and equipment 37.432.772 36.597.364 36.559.475 48.661.396-0,1% Transport means and equipment 18.871.403 22.244.780 22.570.616 20.268.929 1,5% Miscellaneous manufactured articles 13.662.019 13.594.617 13.474.196 12.998.745-0,9% OTHER GOODS AND SERVICES 1.492.214 1.193.487 1.375.350 5.106.554 15,2% TOTAL 681.834.160 709.322.200 733.889.882 927.442.645 3,5% Source: ISTAT Trend of Italian import from Albania Figures in euro IMPORT 2011 2012 2013 2014 Var 13/14 AGRICULTURE, FORESTRY AND FISHING 2.289.626 3.586.153 2.722.022 2.473.229-9,1% MANUFACTURING 382.699.604 392.813.237 406.040.472 479.527.852 18,1% Food, beverages and tobacco 13.838.956 14.579.455 17.500.186 21.186.148 21,1% Textiles, clothing, leather and accessories 271.687.588 268.153.153 296.149.465 354.649.384 19,8% Wood and wood products, paper and printing 11.333.892 10.994.299 10.881.483 12.133.100 11,5% Cook and refined petroleum products 0 0 1.800 3.697.898 xxx Chemical substances and products 259.465 17.662.008 581.327 1.149.201 97,7% Pharmaceutical articles, chemical and botanic 0 0 27.642 406.689 1371,3% Rubber and plastic materials, non metallic mi. 12.913.794 7.097.920 6.229.815 5.110.345-18,0% Basic metals and fabricated metal products 40.682.269 44.244.815 43.350.633 48.460.846 11,8% Computers, electronic and optical 130.549 236.988 910.763 1.520.540 67,0% Electrical appliances 23.566.462 21.861.260 21.386.305 18.993.582-11,2% Machinery and equipment 1.195.033 1.724.263 2.088.840 3.129.739 49,8% Transport means and equipment 409.434 116.808 802.192 2.544.876 217,2% Miscellaneous manufactured articles 6.682.162 6.142.268 6.130.021 6.545.504 6,8% OTHER GOODS AND SERVICES 81.718.404 149.062.908 166.759.754 91.850.342-44,9% TOTAL 466.707.634 545.462.298 575.522.248 573.851.423-0,3% Source: ISTAT 12

2.8 Serbia Trend of Italian export to Serbia Figures in euro EXPORT 2011 2012 2013 2014 Var. % 13/14 AGRICULTURE, FORESTRY AND FISHING 4.444.344 5.511.654 5.777.490 4.455.317-22,9% MANUFACTURING 440.494.458 443.572.251 460.996.055 454.464.572-1,4% Food, beverages and tobacco 28.799.379 38.340.084 36.113.465 37.796.092 4,7% Textiles, clothing, leather and accessories 111.148.205 107.625.988 106.402.103 110.827.164 4,2% Wood and wood products, paper and printing 19.538.256 19.453.894 21.245.566 25.926.086 22,0% Cook and refined petroleum products 6.408.396 142.932 658.960 2.677.545 306,3% Chemical substances and products 34.028.869 37.702.189 37.228.831 36.862.766-1,0% Pharmaceutical articles, chemical and botanic 3.544.548 3.182.218 1.852.322 1.523.314-17,8% Rubber and plastic materials, non metallic mi. 31.612.921 36.161.868 34.220.184 35.602.479 4,0% Basic metals and fabricated metal products 65.081.605 55.060.493 63.152.461 54.546.890-13,6% Computers, electronic and optical 4.666.352 4.467.404 5.132.498 4.951.453-3,5% Electrical appliances 20.568.742 17.395.566 20.925.677 18.536.061-11,4% Machinery and equipment 67.468.746 79.190.431 80.613.268 82.502.627 2,3% Transport means and equipment 29.209.721 25.697.339 33.879.526 22.147.761-34,6% Miscellaneous manufactured articles 18.418.718 19.151.845 19.571.194 20.564.334 5,1% OTHER GOODS AND SERVICES 867.473 1.120.264 828.318 775.385-6,4% TOTAL 445.806.275 450.204.169 467.601.863 459.695.274-1,7% Source: ISTAT Trend of Italian import from Serbia Figures in euro IMPORT 2011 2012 2013 2014 Var. % 13/14 AGRICULTURE, FORESTRY AND FISHING 22.105.349 14.478.609 15.758.053 11.098.626-29,6% MANUFACTURING 330.385.575 238.912.341 259.815.771 313.839.521 20,8% Food, beverages and tobacco 10.532.914 9.854.773 14.082.403 14.332.728 1,8% Textiles, clothing, leather and accessories 86.923.902 86.115.829 108.521.856 141.043.683 30,0% Wood and wood products, paper and printing 16.012.434 18.420.144 17.872.854 25.001.587 39,9% Cook and refined petroleum products 975.130 55.178 0 0 0,0% Chemical substances and products 10.768.251 3.166.966 13.235.535 7.039.503-46,8% Pharmaceutical articles, chemical and botanic 177.596 81.040 11.588 24.475 111,2% Rubber and plastic materials, non metallic mi. 5.317.731 5.927.936 7.408.729 8.830.824 19,2% Basic metals and fabricated metal products 170.194.945 90.720.230 74.958.742 83.572.942 11,5% Computers, electronic and optical 1.979.471 2.286.502 2.393.524 2.646.481 10,6% Electrical appliances 5.863.464 5.490.764 6.240.689 5.825.122-6,7% Machinery and equipment 10.387.518 9.436.982 7.718.717 10.360.667 34,2% Transport means and equipment 5.688.885 3.404.708 3.394.548 4.737.850 39,6% Miscellaneous manufactured articles 5.563.334 3.951.289 3.976.586 10.423.659 162,1% OTHER GOODS AND SERVICES 7.422.375 4.035.862 7.562.999 8.219.421 8,7% TOTAL 359.913.299 257.426.812 283.136.823 333.157.568 17,7% Source: ISTAT 13

2.9 Comparison among AI countries Trend of Italian export to the AI countries by economic activities Figures in euro EXPORT GRECIA ALBANIA BOSNIA E. CROAZIA MONTENEG RO SERBIA SLOVENIA AGRICULTURE, FORESTRY AND FISHING 44.612.711 12.083.028 1.731.126 57.009.938 1.969.492 4.455.317 83.528.535 MANUFACTURING 1.659.490.391 910.253.063 360.901.238 1.484.362.573 68.643.258 454.464.572 2.011.675.234 Food, beverages and tobacco 292.717.448 71.257.842 22.236.671 124.332.380 9.534.635 37.796.092 136.386.067 Textiles, clothing, leather and accessories 220.789.995 240.975.656 139.670.139 231.914.549 20.170.949 110.827.164 103.610.729 Wood and wood products, paper and printing 58.416.452 20.133.605 17.286.970 36.424.595 1.864.846 25.926.086 64.545.888 Cook and refined petroleum products 40.290.321 306.014.274 310.813 429.227.324 23.978 2.677.545 612.514.368 Chemical substances and products 213.693.976 33.873.936 25.189.005 67.306.318 1.481.689 36.862.766 125.061.806 Pharmaceutical articles, chemical and botanic 64.516.220 5.977.969 1.052.897 3.274.894 29.977 1.523.314 4.036.054 Rubber and plastic materials, non metallic mi. 137.771.837 42.220.660 38.805.811 112.958.716 8.810.812 35.602.479 139.974.731 Basic metals and fabricated metal products 173.353.350 69.593.007 51.179.797 175.906.072 5.979.063 54.546.890 301.524.387 Computers, electronic and optical 25.638.585 3.772.312 2.181.282 11.386.224 153.557 4.951.453 20.734.971 Electrical appliances 79.751.607 34.504.732 8.087.662 74.600.461 4.342.358 18.536.061 111.765.256 Machinery and equipment 184.492.237 48.661.396 32.349.566 118.641.873 6.645.278 82.502.627 159.299.949 Transport means and equipment 45.350.160 20.268.929 6.696.733 34.956.506 4.072.757 22.147.761 138.925.975 Miscellaneous manufactured articles 122.708.203 12.998.745 15.853.892 63.432.661 5.533.359 20.564.334 93.295.053 OTHER GOODS AND SERVICES 5.164.247 5.106.554 713.350 9.778.637 149.091 775.385 37.824.793 TOTAL 1.709.267.349 927.442.645 363.345.714 1.551.151.148 70.761.841 459.695.274 2.133.028.562 Source: ISTAT 14

Trend of Italian import from the AI countries by economic activities Figures in euro MONTENEG GRECIA ALBANIA BOSNIA E. CROAZIA IMPORT RO SERBIA SLOVENIA AGRICULTURE, FORESTRY AND FISHING 216.841.358 2.473.229 20.433.767 108.362.066 1.977.985 11.098.626 130.331.996 MANUFACTURING 772.138.683 479.527.852 353.065.145 662.102.225 8.726.368 313.839.521 1.112.667.732 Food, beverages and tobacco 150.108.383 21.186.148 4.150.429 23.087.883 1.231.316 14.332.728 222.648.309 Textiles, clothing, leather and accessories 24.629.694 354.649.384 195.147.113 196.397.148 689.613 141.043.683 39.948.889 Wood and wood products, paper and printing 10.253.387 12.133.100 29.928.458 95.951.221 2.274.870 25.001.587 91.593.118 Cook and refined petroleum products 310.811.344 3.697.898 21.708.903 51.996.945 0 0 125.020.908 Chemical substances and products 43.253.150 1.149.201 7.799.168 59.484.895 0 7.039.503 75.658.466 Pharmaceutical articles, chemical and botanic 1.152.525 406.689 380.010 82.684 0 24.475 799.238 Rubber and plastic materials, non metallic mi. 24.402.696 5.110.345 4.869.184 49.246.561 196.258 8.830.824 78.087.899 Basic metals and fabricated metal products 176.612.745 48.460.846 40.927.667 69.262.438 2.201.866 83.572.942 172.827.342 Computers, electronic and optical 4.552.906 1.520.540 2.718 9.704.509 3.113 2.646.481 17.575.102 Electrical appliances 16.430.938 18.993.582 5.641.271 43.902.380 65.926 5.825.122 43.525.090 Machinery and equipment 6.741.099 3.129.739 14.325.165 29.730.716 1.137.101 10.360.667 73.338.923 Transport means and equipment 1.065.990 2.544.876 7.245.266 13.067.710 732.750 4.737.850 47.017.780 Miscellaneous manufactured articles 2.123.826 6.545.504 20.939.793 20.187.135 193.555 10.423.659 124.626.668 OTHER GOODS AND SERVICES 45.592.526 91.850.342 15.583.357 78.868.023 3.327.049 8.219.421 123.842.829 TOTAL 1.034.572.567 573.851.423 389.082.269 849.332.314 14.031.402 333.157.568 1.366.842.557 Source: ISTAT 15

3 Data by Country 3.1 Albania ECONOMIC STRUCTURE Active firms by business sector and size, 2013 BUSINESS SECTOR 1-4 5-9 10-49 50+ Total Agriculture and industry 13.071 1.565 1.681 525 16.842 Agriculture and fishing 1.585 53 41 11 1.690 Industry 8.296 789 863 385 10.333 Construction 3.190 723 777 129 4.819 Services 86.711 3.670 2.979 881 94.241 Trade 42.356 1.501 920 101 44.878 Transport and logistic 7.738 127 127 32 8.024 Accommodation and food services 16.923 674 204 24 17.825 Information and communication 2.217 150 95 33 2.495 Other services 17.477 1.218 1.633 691 21.019 TOTAL 94.025 5.235 4.660 1.406 111.083 Source: Institute of Statistics of Albania Active firms by business sector and year of establishment, 2013 Year Agriculture, forestry, fishing Industry Construction Trade Transport and storage Accommodati on and food service activities Information and communicati on Other Services 2005 194 3.648 1.608 13.581 2.949 3.670 313 6.209 32.172 2006 42 601 266 2.832 337 962 71 1.103 6.214 2007 78 622 326 2.575 714 700 71 1.413 6.499 2008 146 1.009 478 4.107 744 1.472 196 1.858 10.010 2009 128 729 431 3.258 648 1.522 305 1.664 8.685 2010 279 910 470 4.920 763 2.236 494 2.019 12.091 2011 241 866 478 4.375 507 2.307 344 1.915 11.033 2012 263 931 394 4.750 671 2.590 315 2.334 12.248 2013 319 1.017 368 4.480 691 2.366 386 2.504 12.131 Total 1.690 10.333 4.819 44.878 8.024 17.825 2.495 21.019 111.083 Source: Institute of Statistics of Albania Total 16

INTERNATIONAL TRADE Albanian export by business sector - Figures in millions of Lek (1 Lek = 0,007 average exchange in 2014) EXPORT 2011 2012 2013 2014 Var. 13/14 Part% 2014 Food, beverages, tobacco 11.178 12.819 14.651 16.747 14,3% 5,9% Minerals, fuels, electricity 58.776 76.146 99.418 85.885-13,6% 40,3% Chemical and plastic products 2.834 2.026 2.887 3.394 17,5% 1,2% Leather and leather manufactures 2.926 2.773 3.195 3.076-3,7% 1,3% Wood manufactures and articles of paper 4.558 5.353 8.000 9.181 14,8% 3,2% Textile and footwear 64.106 62.092 69.367 85.936 23,9% 28,2% Construction materials and metals 41.303 40.213 36.191 37.103 2,5% 14,7% Machineries, equipments and spare parts 7.750 7.639 8.246 9.235 12,0% 3,3% Others 3.466 3.961 4.436 5.204 17,3% 1,8% TOTAL 196.897 213.023 246.391 255.759 3,8% 100,0% Source: Institute of Statistics of Albania Albanian import by business sector - Figures in millions of Lek (1 Lek = 0,007 average exchange in 2014) IMPORT 2011 2012 2013 2014 Var. 13/14 Part% 2014 Food, beverages, tobacco 91.954 93.177 93.424 93.971 19,5% 18,1% Minerals, fuels, electricity 102.269 110.476 92.657 90.225 10,6% 18,0% Chemical and plastic products 60.994 66.017 68.258 72.918 9,6% 13,2% Leather and leather manufactures 9.423 9.725 11.395 14.320 2,6% 2,2% Wood manufactures and articles of paper 20.419 18.100 20.300 22.922 3,3% 3,9% Textile and footwear 50.500 48.321 54.130 62.997 13,4% 10,5% Construction materials and metals 82.101 68.066 63.323 70.800 13,0% 12,3% Machineries, equipments and spare parts 109.707 97.775 98.517 105.690 23,6% 18,7% Others 16.637 16.835 15.374 18.421 4,4% 3,0% TOTAL 544.004 528.491 517.378 552.264 100,0% 100,0% Source: Institute of Statistics of Albania Albanian trade balance by business sector - Figures in millions of Lek (1 Lek = 0,007 average exchange in 2014) TRADE BALANCE 2011 2012 2013 2014 Food, beverages, tobacco -80.776-80.358-78.773-77.224 Minerals, fuels, electricity -43.493-34.331 6.761-4.341 Chemical and plastic products -58.160-63.991-65.370-69.525 Leather and leather manufactures -6.497-6.951-8.200-11.243 Wood manufactures and articles of paper -15.861-12.747-12.300-13.741 Textile and footwear 13.607 13.771 15.237 22.939 Construction materials and metals -40.798-27.853-27.133-33.697 Machineries, equipments and spare parts -101.957-90.135-90.271-96.455 Others -13.171-12.874-10.938-13.217 TOTAL -347.107-315.468-270.987-296.505 Source: Institute of Statistics of Albania 17

Albanian export by macro areas Figures in millions of Lek (1 Lek = 0,007 in 2014) Var. EXPORT 2011 2012 2013 2014 13/14 Europe 187.685 201.898 229.474 240.303 4,7% Africa 983 1.668 1.841 3.107 68,8% America 2.312 1.238 1.375 1.701 23,7% Asia 5.834 7.675 13.692 10.192-25,6% Oceania 6 12-11 0,0% Others 77 539 10 445 4346,1% TOTAL 196.897 213.030 246.391 255.759 3,8% Source: Institute of Statistics of Albania Albanian export by partners Figures in millions of Lek (1 Lek = 0,007 in 2014) EXPORT 2011 2012 2013 2014 Var. 13/14 Italy 104.998 108.865 114.153 133.046 16,6% Kosovo 14.657 17.369 16.292 18.774 15,2% Spain 7.010 19.693 24.088 16.684-30,7% Malta 4.684 3.835 16.540 15.906-3,8% Turkey 14.484 13.464 9.223 10.094 9,4% Other European countries 5.622 7.465 13.066 9.266-29,1% Greece 9.978 9.461 7.776 8.848 13,8% Germania 5.745 6.611 9.461 7.209-23,8% F.Y.R.O. Macedonia 4.149 4.152 4.397 5.301 20,5% Montenegro 1.684 1.793 3.173 3.520 10,9% France 1.079 1.526 5.246 2.757-47,5% Bulgaria 2.438 2.763 2.321 2.751 18,5% Other Asiatic countries 456 404 713 2.344 228,8% Netherlands 1.430 2.151 1.699 2.287 34,6% Austria 2.342 2.584 1.253 1.962 56,5% Switzerland 5.279 2.041 4.361 1.937-55,6% Serbia 3.597 1.647 2.247 1.608-28,4% USA 2.006 1.037 1.129 1.463 29,6% Egypt 146 25 233 1.120 380,7% Poland 71 87 124 886 614,7% Romania 320 365 393 880 123,7% Czech Republic 1.040 570 951 796-16,4% Belgium 1.198 1.048 613 743 21,3% Russia 14 33 197 457 131,7% United Kingdom 161 236 1.450 442-69,5% Saudi Arabia 2 3 15 387 XXX Croatia 309 408 380 342-10,0% Lebanon 9 12 298 240-19,5% Hungary 97 67 125 233 86,7% Slovenia 208 553 1.769 164-90,7% Denmark 58 63 363 138-62,1% Brazil 199 184 182 130-28,3% Hong Kong 64 24 171 124-27,5% Sweden 142 76 84 119 41,5% Japan 64 33 49 108 120,3% Canada 99 12 63 105 67,4% Other countries 979 1.830 1.784 2.146 21,5% TOTAL 196.820 212.491 246.381 255.314 3,6% Source: Institute of Statistics of Albania 18

Albanian import by macro areas Figures in millions of Lek (1 Lek = 0,007 in 2014) IMPORT 2011 2012 2013 2014 Var 13/14 Europe 456.938 440.974 424.680 453.228 6,7% Africa 3.078 3.272 14.335 9.247-35,5% America 20.015 23.791 24.065 28.566 18,7% Asia 62.725 58.638 51.383 59.985 16,7% Oceania 594 304 261 252-3,6% Others 655 1.512 2.654 986-62,9% TOTAL 544.004 528.490 517.378 552.264 6,7% Source: Institute of Statistics of Albania Albanian import by countries Figures in millions of Lek (1 Lek = 0,007 in 2014) IMPORT 2011 2012 2013 2014 Var 13/14 Italy 166.045 168.372 170.445 164.409-3,5% Greece 57.796 50.117 45.700 52.058 13,9% Other Asiatic Countries 48.684 50.502 41.945 49.451 17,9% Turkey 30.200 30.379 32.889 39.011 18,6% Germania 31.163 31.936 30.002 32.963 9,9% Serbia 19.607 23.321 15.201 23.664 55,7% Switzerland 14.183 15.407 8.179 16.858 106,1% USA 7.780 11.423 12.444 13.343 7,2% Russia 10.540 13.474 10.140 11.680 15,2% France 13.089 8.458 15.528 10.690-31,2% Spain 11.441 10.381 8.026 9.588 19,5% F.Y.R.O. Macedonia 8.882 8.365 8.606 8.350-3,0% Poland 6.589 7.106 7.803 7.987 2,4% Bulgaria 6.916 6.838 8.601 7.790-9,4% Other European Countries 7.660 5.324 6.090 6.523 7,1% Austria 9.983 6.889 6.185 6.408 3,6% Croatia 6.988 6.973 5.818 6.144 5,6% Romania 5.604 5.966 4.860 6.082 25,2% Kosovo 4.510 5.106 6.014 5.976-0,6% United Kingdom 5.975 5.322 4.154 5.500 32,4% Canada 4.749 4.215 3.224 5.385 67,0% Hungary 5.110 4.138 4.322 4.475 3,5% Brazil 4.402 4.881 4.304 4.332 0,7% Netherlands 4.472 2.449 3.380 4.272 26,4% Ukraine 6.632 5.744 4.544 3.774-17,0% Czech republic 8.070 5.553 4.112 3.513-14,6% Slovenia 4.205 3.692 3.718 3.455-7,1% India 3.461 2.943 2.695 3.406 26,4% Argentina 1.243 1.366 1.766 2.852 61,5% Other African Countries 628 251 9.872 2.507-74,6% Tunisia 178 337 547 2.448 347,9% Belgium 2.822 2.135 2.444 2.434-0,4% Japan 2.829 2.580 2.078 2.312 11,3% Montenegro 1.381 1.086 1.837 2.311 25,8% Israel 5.009 374 982 2.154 119,4% Egypt 1.351 1.909 2.604 2.049-21,3% Ireland 1.463 1.489 1.542 1.980 28,4% Algeria 820 466 845 1.643 94,5% Ecuador 1.298 1.282 1.653 1.616-2,2% Sweden 1.602 2.052 1.220 1.528 25,2% Finland 2.584 1.619 1.693 1.389-18,0% Other countries 5.404 4.781 6.714 6.978 3,9% TOTAL 544.003 528.490 517.378 552.264 6,7% Source: Institute of Statistics of Albania 19

3.2 Bosnia and Herzegovina ECONOMIC STRUCTURE Active business by sector in 2012 and June 2014 BUSINESS SECTOR 2012 June 14 Part % 2014 Var. 12/14 Agriculture, Forestry and Fishing 881 917 2,7% 4,1% Mining and Quarrying 216 232 0,7% 7,4% Manufacturing 4.812 4.877 14,1% 1,4% Energy and Gas Supply 195 236 0,7% 21,0% Water Supply 365 389 1,1% 6,6% Construction 2.234 2.216 6,4% -0,8% Wholesale and Retail Trade 10.751 10.657 30,8% -0,9% Transport and Storage 1.932 1.982 5,7% 2,6% Hotel and Restaurants 766 776 2,2% 1,3% Information and Communication 966 1.020 2,9% 5,6% Financial Intermediation 205 198 0,6% -3,4% Real Estate and Leasing 396 492 1,4% 24,2% Professional, Scientific and Technical Services 2.588 2.816 8,1% 8,8% Administrative and Support Services Activities 676 759 2,2% 12,3% Public Sector 679 721 2,1% 6,2% Education 1.237 1.378 4,0% 11,4% Health and Social Services 836 939 2,7% 12,3% Art and Entertainment 636 1.390 4,0% 118,6% Other Services 1.038 2.604 7,5% 150,9% TOTAL 31.409 34.599 100,0% 10,2% Source: Agency for Statistics of Bosnia and Herzegovina 20

INTERNATIONAL TRADE Bosnian export by economic activities Figures in thousand if KM (1 KM = 0,51 ) EXPORT 2012 2013 2014 Part % 2014 Agriculture, forestry and fishing 159.955 199.920 204.883 2,4% Mining industry 155.527 117.089 113.952 1,3% Manufacturing, energy, water and gas 7.524.884 8.044.652 8.334.643 96,0% Other activities 17.973 18.615 30.302 0,3% TOTAL 7.858.340 8.380.275 8.683.780 100,0% Source: Agency for Statistics of Bosnia and Herzegovina Bosnian import by economic activities Figures in thousand if KM (1 KM = 0,51 ) IMPORT 2012 2013 2014 Part % 2014 Agriculture, forestry and fishing 729.822 661.203 708.822 4,38% Mining industry 1.819.151 1.697.929 1.531.373 9,45% Manufacturing, energy, water and gas 12.612.771 12.733.914 13.785.311 85,10% Other activities 91.299 76.745 173.800 1,07% TOTAL 15.253.043 15.169.792 16.199.306 100,00% Source: Agency for Statistics of Bosnia and Herzegovina Bosnian trade balance by economic activities Figures in thousand if KM (1 KM = 0,51 ) TRADE BALANCE 2011 2012 2013 2014 Agriculture, forestry and fishing - 550.299-569.867-461.283-503.939 Mining industry - 1.948.553-1.663.624-1.580.840-1.417.421 Manufacturing, energy, water and gas - 4.721.247-5.087.887-4.689.262-5.450.668 Other activities - 83.872-73.326-58.130-143.498 TOTAL - 7.303.971-7.394.704-6.789.515-7.515.526 Source: Agency for Statistics of Bosnia and Herzegovina 21

Bosnian export by manufacturing sector Figures in thousands of KM (1 KM = 0,51 ) BUSINESS SECTOR 2011 2012 2013 2014 Part % 2014 Food products, beverages and tobacco 628.542 668.917 680.179 636.765 8,2% Textile and clothing 361.185 342.537 376.637 431.845 5,6% Leather and leather products 523.059 528.683 596.771 696.009 9,0% Wood and wood products 380.165 389.016 433.204 494.291 6,4% Paper, printing and publishing 212.058 207.742 217.702 204.570 2,6% Coke and refined petroleum products 754.123 525.173 467.664 483.462 6,3% Chemicals 438.040 445.193 462.450 435.445 5,6% Rubber and plastic products 170.412 205.981 229.897 356.760 4,6% Non metallic mineral products 83.498 77.268 73.473 90.600 1,2% Metal products 1.307.751 1.283.740 1.133.395 1.104.633 14,3% Machinery and equipment 1.042.558 1.054.697 1.107.698 1.230.304 15,9% Electrical and optical instruments 277.579 298.681 313.775 319.179 4,1% Transport equipment 221.126 220.335 291.752 343.646 4,4% Furniture and other products 726.535 776.933 857.635 900.940 11,7% TOTAL 7.126.630 7.024.896 7.242.232 7.728.990 100,0% Source: Agency for Statistics of Bosnia and Herzegovina Bosnian import by manufacturing sector Figures in thousands of KM (1 KM = 0,51 ) BUSINESS SECTOR 2011 2012 2013 2014 Part % 2014 Food products, beverages and tobacco 2.153.905 2.202.838 2.193.459 2.152.454 15,6% Textile and clothing 739.403 717.918 807.371 960.612 7,0% Leather and leather products 470.576 467.354 528.380 620.338 4,5% Wood and wood products 154.417 151.136 159.438 187.002 1,4% Paper, printing and publishing 333.701 327.484 344.772 384.325 2,8% Coke and refined petroleum products 1.170.464 1.195.778 1.155.461 1.114.193 8,1% Chemicals 1.574.305 1.681.000 1.636.668 1.759.399 12,8% Rubber and plastic products 624.753 638.898 674.161 754.415 5,5% Non metallic mineral products 380.930 365.265 356.528 392.646 2,8% Metal products 1.032.649 959.007 945.964 944.776 6,9% Machinery and equipment 1.411.438 1.419.249 1.480.559 1.857.926 13,5% Electrical and optical instruments 1.096.283 1.095.974 1.083.889 1.299.980 9,4% Transport equipment 1.027.475 901.534 911.132 1.008.006 7,3% Furniture and other products 305.190 328.982 309.889 349.240 2,5% TOTAL 12.475.489 12.452.416 12.587.671 13.785.311 100,0% Source: Agency for Statistics of Bosnia and Herzegovina 22

Bosnian trade balance by manufacturing sector Figures in thousands of KM (1 KM = 0,51 ) BUSINESS SECTOR 2011 2012 2013 2014 Food products, beverages and tobacco -1.525.363-1.533.921-1.513.280-1.515.689 Textile and clothing -378.218-375.381-430.734-528.767 Leather and leather products 52.483 61.329 68.391 75.671 Wood and wood products 225.748 237.880 273.766 307.289 Paper, printing and publishing -121.643-119.742-127.070-179.755 Coke and refined petroleum products -416.341-670.605-687.797-630.731 Chemicals -1.136.265-1.235.807-1.174.218-1.323.954 Rubber and plastic products -454.341-432.917-444.264-397.655 Non metallic mineral products -297.432-287.997-283.055-302.046 Metal products 275.102 324.733 187.431 159.857 Machinery and equipment -368.880-364.552-372.861-627.622 Electrical and optical instruments -818.704-797.293-770.114-980.801 Transport equipment -806.349-681.199-619.380-664.360 Furniture and other products 421.345 447.951 547.746 551.700 TOTAL -5.348.859-5.427.520-5.345.439-6.056.321 Source: Agency for Statistics of Bosnia and Herzegovina Import by partners Figures in thousands of KM (1KM = 0,51 ) IMPORT 2011 2012 2013 2014 Part % 2014 Germany 1.648.404 1.725.762 1.734.842 1.869.579 11,54% Croatia 2.226.508 2.202.563 1.956.353 1.851.679 11,43% Italy 1.381.742 1.429.362 1.482.256 1.653.565 10,21% Serbia 1.465.846 1.431.534 1.485.608 1.629.521 10,06% China 774.891 816.382 914.082 1.359.548 8,39% Russia 1.635.091 1.493.885 1.505.995 1.292.467 7,98% Slovenia 828.564 803.360 754.344 763.235 4,71% Turley 450.265 449.507 493.202 582.101 3,59% Austria 491.680 504.051 519.291 532.109 3,28% USA 626.748 388.161 386.749 475.386 2,93% Hungary 379.214 412.951 441.535 433.638 2,68% Poland 301.123 416.996 393.438 414.570 2,56% France 316.032 322.062 293.086 325.806 2,01% Czech Republic 326.958 271.945 246.786 239.819 1,48% Romania 187.973 172.673 184.327 217.925 1,35% Netherlands 148.782 149.804 161.845 213.245 1,32% Spain 229.905 161.543 143.017 174.732 1,08% Greece 218.456 182.169 164.272 160.111 0,99% United Kingdom 101.626 120.186 127.608 153.076 0,94% F.Y.R.O. Macedonia 139.030 140.386 143.619 142.787 0,88% Slovakia 115.473 115.876 120.152 123.996 0,77% Belgium 92.479 89.607 92.677 101.091 0,62% Japan 87.747 88.551 76.200 94.766 0,58% Switzerland 87.874 84.206 80.880 84.703 0,52% Bulgaria 71.019 74.734 76.070 83.050 0,51% TOTAL 15.526.133 15.253.043 15.169.792 16.199.306 100,00% Source: Agency for Statistics of Bosnia and Herzegovina 23

Export by partners Figures in thousands of KM (1KM = 0,51 ) EXPORT 2011 2012 2013 2014 Part % 2014 Germany 1.215.928 1.210.103 1.310.844 1.317.490 15,17% Italy 963.546 939.241 1.003.294 1.197.634 13,79% Croatia 1.204.440 1.164.998 1.194.637 955.044 11,00% Serbia 1.001.879 709.986 766.745 800.690 9,22% Austria 619.042 654.763 687.565 755.827 8,70% Slovenia 706.818 653.304 686.503 697.785 8,04% Montenegro 300.437 249.230 270.745 293.818 3,38% Turkey 150.054 182.874 174.625 234.392 2,70% Hungary 165.970 115.416 138.616 186.652 2,15% Switzerland 154.104 87.574 133.013 157.401 1,81% Czech republic 103.355 96.578 152.388 148.223 1,71% Netherlands 140.755 124.947 110.446 123.760 1,43% France 91.045 97.505 107.814 122.800 1,41% Slovakia 110.103 82.427 120.206 117.888 1,36% Romania 61.810 114.190 121.789 116.862 1,35% Spain 72.972 97.457 107.818 111.254 1,28% F.Y.R.O. Macedonia 128.914 124.242 92.823 94.072 1,08% Poland 100.546 98.387 92.502 83.291 0,96% Russia 53.184 56.032 57.164 79.580 0,92% Bulgaria 18.342 37.693 76.545 74.534 0,86% Sweden 54.100 48.955 69.339 70.608 0,81% United Kingdom 26.821 30.676 44.031 50.063 0,58% Luxemburg 53.217 46.124 49.807 49.063 0,56% Belgium 33.250 33.785 35.078 43.372 0,50% USA 19.195 27.757 36.774 41.789 0,48% Greece 10.899 0,13% TOTAL 8.222.163 7.858.340 8.380.275 8.683.780 100,00% Source: Agency for Statistics of Bosnia and Herzegovina 24