Kosovo’s trade deficit grows

Kosovo’s trade deficit grows

Pristina, October 1, 2014/Independent Balkan News Agency

By Elton Tota

Agency of Statistics of Kosovo (ASK), has published the “Statistics of Foreign Trade” for the month of August 2014.

According to ASK, information on the foreign trade of Kosovo indicate a higher trade deficit for the month of August 2014 amounting to 208,5  million Euros compared to the 204,7 million Euros for the same period in 2013.

Exports of goods in the month of August 2014 amounted to 33 million Euros, while import amounted to 241,6 million Euros. This is an increase by 42,3% on exports and 6% on imports compared to the same period of 2013.

Main trade partners of Kosovo as far as export and import are concerned in August 2014, are EU countries occupying 18,1% of exports and 45,2% of imports, while CEFTA countries occupy 33,2% of exports and 29,9% of imports.

The highest volume of exports belonged to China with 29%, India with 12,4%, Albania with 11,4%, FYROM with 10,6%, Italy with 6%, Serbia with 5,1%, Montenegro with 4,7%, etc. In terms of imports, Germany leads the list with 10,4%, Greece with 8,7%, Turkey with 7,6%, China with 7,5% and Italy with 7,4%.

Economy experts say that this situation brings poverty in the country and rise in unemployment. According to them, this is a result of the lack of competitive ability by Kosovar producers.

They say that the government of Kosovo should have drafted a list of competitive priorities that Kosovo has in relation to other countries. /ibna/