Kosovo’s trade deficit higher than Albania’s

Kosovo’s trade deficit higher than Albania’s

IBNA Special Report/ How are the figures for import, export and trade deficit of Albania and Kosovo? Shifts from one year to another, new tendency towards European countries, not to forget the neighboring countries. Imports of Kosovo in 2013, Serbia is ranked first

Tirana, August 6, 2014/Independent Balkan News Agency

Kosovo has a higher trade deficit than Albania, although it has a smaller trade volume. In 2013, Kosovo’s trade deficit was 2.15 billion Euros, while Albania had a 1.89 billion Euros trade deficit.

The data is confirmed by the Agency of Statistics of Kosovo and Institute of Statistics of Albania (INSTAT).

From 2005 until 2013, the best year as far as trade deficit is concerned seems to be 2005, where Kosovo had a 1.1 billion Euro trade deficit and Albania’s trade deficit amounted to 1.6 billion Euros. Later, this deficit increased for Kosovo until 2012, thus reflecting problems with the country’s economy. After this, there was a small contraction in 2013, a contraction which was more affected by a decrease in imports than a rise in exports.

As far as exports are concerned, Kosovo and Albania have different priorities. In 2005, Kosovo’s exports were dominated by FYR Macedonia, Serbia and Germany, while Albanian exports were dominated by Italy, Greece and Kosovo.

In 2013, for Kosovar exports this ratio has shifted in favor of Italy, Albania and FYR Macedonia. Meanwhile, last year, the main exporting countries for Albania were Italy, Spain, Malta.

In 2013, Kosovo’s exports to Italy amounted to 74 million Euros, 44 million Euros to Albania and 26 million Euros to FYR Macedonia.

As far as imports are concerned, in 2005 Kosovo mainly imported from neighboring FYROM, then came Serbia and Germany.

Last year, figures coming from the Agency of Statistics of Kosovo show that the biggest volume of imports comes from Serbia, then Germany and Italy, thus displacing FYROM.

In 2013, Republic of Kosovo has imported a total of 2.4 billion Euros. Out of these, 285 million Euros worth of goods were imported from Serbia, 253 million Euros worth of goods from Germany and 229 million Euros from Italy.

Open Data Albania report shows that in 2013, the main countries that Albanian imported from were Italy, Greece and China. /ibna/