Kosovo's trade gap shrinks 3.4% to EUR 2.2bn in 2013

By bne IntelliNews February 10, 2014

Kosovo's foreign trade deficit shrank 3.4% to EUR 2.16bn in 2013 due to rising exports and declining imports, the statistics office data showed.

Exports increased 6.4% to EUR 294mn last year. Sales abroad of mineral products surged 44% to EUR 48.2mn, exports of plastics, rubber and rubber articles grew 31% to EUR 18.2mn and that of prepared foodstuffs, beverages and tobacco were up 22% y/y to EUR 19.4mn.

On the other hand, exports of machinery, appliances and electric materials fell 23% to EUR 12.6mn and sales to non-residents of base metal and basic metal articles decreased 1% to EUR 144mn.

Imports declined 2.3% to EUR 2.5bn in 2013 mainly because of declining mineral products purchases, which pulled down Kosovo's imports growth by 2.5pps over the period. Other purchases of foreign goods that had negative contribution to the dynamics of the country's imports were that of machinery, appliances and electric materials (-0.4pps), transport means (-0.6pps), vegetable products (-0.5pps).

The coverage of imports by exports in 2013 improved to 12%, up from 11% a year earlier.

Kosovo's trade balance, EUR mn 2012 2013 Change y/y
Trade gap       2,231.0       2,156.0 -3.4%
Exports          276.1         293.9 6.4%
Imports       2,507.6       2,450.0 -2.3%
Source: statistics office (KAS)      

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