Trade deficit in Kosovo grows

Trade deficit in Kosovo grows

Pristina, July 1, 2014/Independent Balkan News Agency

By Elton Tota

Kosovo continues to face a high trade deficit and statistics show that only 10,4% of Kosovar products cover the domestic market.

Agency of the Statistics of Kosovo (ASK) has published today the “Statistics for Foreign Trade” for May 2014.

Data from this report indicate a higher deficit for May 2014. Deficit in May was 204,9 million Euros compared to a deficit of 186, 4 million Euros in the same period of 2013.

Exports in May 2014 was 23,6 million Euros, while import was 228,6 million Euros. Meanwhile, export marked a fall of 12.9% and import went up by 7% compared to the same period of 2013.

Based on the data about the main export categories: 52.5% of export consists of basic metals and their products, 8.7% of machineries, mechanical and electrical equipment, 7.3% of food, beverages and tobacco, 7% of mineral products, 7% of plastic, rubber and their byproducts, 4.8% of textiles and textile products, 3.8% of medicinal products, 3.3% of leather and leather products.

Meanwhile, based on the data of the main import groups: 17.9% of import consists of mineral products, 13.4% of food products, beverages and tobacco, 9.8% of machineries, mechanical and electrical equipment, 6.7% of plastic, rubber and their products, 5.3% of medicinal products, 5.2% of textile and textile products, 4.5% of transport.

The main trade partner as far as export and import of Kosovo is concerned in May 2014 are EU countries, which occupy 41.9% of exports and 40.4% of imports, while CEFTA countries occupy 39.4% of exports and 26.7% of imports. The biggest percentage of exports was shipped to Italy which occupies 23.5%. /ibna/