Kosovo’s trade deficit goes down

Kosovo’s trade deficit goes down

Pristina, July 31, 2014/Independent Balkan News Agency

By Elton Tota

Data on Kosovo’s foreign trade indicate a lower trade deficit for the month of June 2014 amounting to 188,6 million Euros as opposed to a 195,9 million Euros deficit in the same period of 2013. Export amounts to 12.6% of imports.

Based on the latest report of the Agency of Statistics, Kosovo continues to import mostly from Serbia, while exporting to Italy.

Export of goods in the month of June 2014 amounted to 27,1 million Euros, while import amounted to 215,7 million Euros, 2.9% growth for exports and -3.0% for imports compared to the same period of 2013.

Based on the data for the main groups of export: 51.6% of exports consists of basic metals and their products, 15.8% on mineral products, 6.5% on readymade food products and tobacco, 5.3% on plastic materials, rubber and their products, 4.5% on medicinal plants, 4.1% on leather and their products, 3.2% on machinery, mechanical and electrical equipment, 3.1% of textiles and textile articles, etc.

Meanwhile based on the data on import, 16.5% consist on mineral products, 13.5% consist on readymade food, beverage and tobacco, 10.4% on machinery, mechanical and electrical equipment, 9.5% on basic metals and their products, 7.6% on chemical industry products, 5.9% on plastic, rubber and their products, 5.7% on transport, 5.4% on cattle and their products, 5.4% medicinal plants, etc.

The main trade partner of Kosovo as opposed to March 2014 are EU countries, where Kosovo exports 37.7% of its products and imports 41.7% of their products, while CEFTA member countries occupy 44.6% of export and 28.3% of import.

Biggest exporters of Kosovo were Italy with 24.6%, Albania with 14.5%, Serbia with 12.8%, FYROM with 10.8%, Turkey with 5.6%, China with 5.2%, Montenegro with 4.3%, etc.

Kosovo has mostly imported from Serbia with 13.3%, Germany with 11.2%, Turkey with 9.6%, China with 8.5%, Italy with 6.9%, Greece with 6% and Albania with 5.6%. /ibna/