Trade deficit deepened for 13.8% in December 2022, mostly imported goods from Serbia

The data from Kosovo's Foreign Trade and Goods points to a higher trade deficit for 13.8% in December 2022, in proportion to the same period in 2021, worth 449.4m Euros, compared to the deficit of 394.9 million euros in 2021. Export covers import with only 13.8%.

Export of goods in December 2022 was worth 72.0m euros, while import of 521.5m euros, which is an increase of 10.8% per export and 13.4% per import, compared to the same period in 2021.

According to key export groups data: 20.2% make up various products produced; 16.5% make up basic metals and articles; 12.9% make up plastics, tires and articles from them; 11.4% make up minerals; 9.8% make up prepared foods, drinks and tobacco; 5.5% make up text and textile articles; 5.4% make up machinery, mechanical equipment and electricity, etc.

While, according to key group data for import: 17.8%, mineral products are made up of 12.9% of prepared food, drink and tobacco; 11.9% make up machinery, mechanical and electrical equipment; 10.0% make up transport tools; 8.4% make up basic metals and articles; 6.2% make up chemical industry products; 5.0% make up plastics, tires and items from them, etc.

Kosovo exports to EU countries reached 19.1m euros, or about 26.5% of total exports, with an increase of 10.9%. Key partners for export of goods to the EU are: Germany (9.2%), Italy (4.5%), the Netherlands (3.2%), etc.

Kosovo imports from EU countries stood at around 217.2m euros, or 41.7% of total imports, with an increase of 3.2%. Imports with higher turnout were from: Germany (12.6%), Italy (5.4%), Greece (3.9%), Slovenia (3.8%), etc.

In December 2022, Kosovo's exports with CEFTA countries reached 29.6m euros, or 41.2% of total exports, with an increase of 29..8%. Key export partners from CEFTA countries were: Northern Macedonia (16.6%), Albania (13.4%), Serbia (5.4), and Montenegro (4.7%).

While imports from CEFTA countries in December 2022 reached 92.7m euros, or 17.8% of total imports, with an increase of 16.7%. The countries with the highest share in import was: Serbia (5.8%), Albania (5.5%), and northern Macedonia (4.9%).

Kosovo exports with other countries of the world reached 23.2m euros, or 32.3%. As more important partners from these export countries, it's worth mentioning: US (15.7%) and Switzerland (8.2%).

While, Kosovo's imports with other countries of the world reached 211.5m euros, or 40.6%. The countries with the highest share in import in this group were: Turkey (18.2%) and China (9.3%).