Foreign trade, Kosovo’s trade deficit grows

Foreign trade, Kosovo’s trade deficit grows

Pristina, April 30, 2014/ Independent Balkan News Agency

By Elton Tota

Kosovo is facing a high trade deficit. Agency of Statistics of Kosovo (ASK)  has published the “Statistics of Foreign Trade” for the month of March 2014. Official statistics indicate that only 11% of Kosovar products cover the domestic market.

Data from Foreign Trade in Kosovo indicate a high trade deficit for the month of March 2014 amounting to 179,3 million Euros compared to 172,1 million Euros in the same period in 2013.

Export is only 11.4% of imports. Export in March 2014 amounted to 23,1 million Euros, while import amounted to 202,4 million Euros.

This shows a 0.1% increase on exports and a 3,7% increase on imports, as opposed to the same period of 2013.

According to the data on the main groups of export: 43.9% of exports consist on metals and their byproducts, 17.5% consist on mineral products, 6.8% on readymade food, beverages and tobacco, 5.8% on textiles and textile products, 5.7% on plastic, rubber and their byproducts, 5.2% leather and its products and 4.7% on plant products.

Based on the information on import: 15.8% of import consists on mineral products, 13.4% on readymade food, beverages and tobacco, 10.3% machineries, mechanical and electrical equipment, 10.2% on metals and their byproducts, 9.7% on products of the industry of chemistry, 6.5% on plant products, 6,4% on plastic, rubber and their products and 5,2% on transport vehicles.

The main commercial partners, as far as export and import in Kosovo are concerned in March 2014, are EU countries which account for 38,8% of exports and 43,1% of imports. Meanwhile, CEFTA countries account for 47% of exports and 28.2% of imports.

The largest amount of exports went to: Italy 21.2%, Serbia 14.4%, Albania 13.8%, FYROM 12.4%, India 8.8%, Montenegro 5.2%. Meanwhile, the largest amount of imports have been received by Serbia 14.8%, Germany 10.5%, Turkey 10.4%, Italy 7.1%, China 6.3%, Greece 5.9%, FYROM 5,7%, etc. /ibna/