Terrible: The trade deficit in October rose alarmingly to 33 percent per year

According to data from the Kosovo Statistics Agency (ASK) for Kosovo's “Foreign Stock Exchange for October 2021”, export has covered import with a total of 17%, the Economic Bulletin conveys.

In terms of exports, Kosovo has exported goods out of Kosovo worth only 72.6m euros, compared to the import in October, which has scored a high value of 428.5m euros. This, according to the AKS, is an increase of 43.5% per export and 34.9% per import, if compared to the same period in 2020.

From the data of key export groups derived from estimates in this report, the majority of exports make up basic metals and articles from them at 26.5%, 26.4% make up different products produced, 11.9% make up plastics, tires and articles, 7.9% make up prepared foods, drinks and tobacco, 5.9% make up minerals, 4.9% make up plant products, 2.9% make up machinery, mechanical and electrical equipment, etc.

Meanwhile, Kosovo in October has mostly imported mineral products that make up 14.2% of all imports, 12.9% basic metals and articles, 12.5% machinery, mechanical and electrical equipment, 10.7% prepared food, drink and tobacco, 7.4% plastic, rubber and articles from them, 7.3% transport tools, 7.1% chemical industry products, etc.

Kosovo exports to EU countries reached 22.8m euros, or about 31.4% of total exports, with a 39.7% increase last year. And the main partners for EU export of goods were: Germany at 9.4%, Italy at 6.0% and the Netherlands with 2.7%, but several other states in lower numbers.

On the other hand, Kosovo imported goods from EU countries worth 175.7m euros, or 41.0% of total imports, with a 34.6% increase last October. The highest imports were from countries like: Germany with 11.7%, Italy with 6.1%, Greece with 3.6%, and Slovenia with 3.6%.

While with CEFTA countries, Kosovo exports reached 24.1m euros, or 33.2% of total exports, with an increase of 19.2%. The main partner for export from CEFTA countries was undoubtedly Albania first with 12.2%, then Northern Macedonia with 10.8%, Serbia with 5.1% and Montenegro with 4.0%.

While Kosovo's imports from the same countries, in October 2021, reached 90.3m euros, or 21.1% of total imports, with an increase of 31.5%. Of the countries with the highest share in import here comes Serbia first with 7.3%, then Albania with 6.3% and Northern Macedonia with 5.6%.

Meanwhile, Kosovo reported goods to other countries of the world, worth 25.6m euros, or 35.3%, in countries like: A total of 20.3% of goods and Switzerland 8.4%.

And in the end, Kosovo, in these countries, imported goods worth 162.3m euros, or 37.9%. From this group, Kosovo imports mostly from Turkey 12.0% and China 10.7%. (HAVAHATHERS)/Bulette Economics/