20 minutes ago2023 silences Kurt: Trade deficit deepening, export in negative flow
Periskopi(3 years ago)
(3 years ago)Kosovo continues to be one of the states with the highest trade deficit. Based on monthly reports, an emphasis is seen between export and import in Kosovo, where imports continue to dominate Kosovo's foreign trade. The latest Kosovo Foreign Trade Data, published by the Agency [...]
According to data from Kosovo Customs, the country's import during 2022 has reached an estimated 5.6 billion euros, while exports have scored over 860m euros. Compared to 2021, exports have increased by over 100m euros, while imports of over 1 billion euros. This huge gap in import and export resulted in Kosovo's trade deficit achieving record value.
The first half of 2023 turns out to be even heavier for Kosovo's trade deficit, giving us projections that the record of disbalancing between imports and 2022 exports may not be held for much longer.
Import Dominoes Export
During the months of 2023, Kosovo's foreign trade reports, published by the AKS, reported a significant increase in the trade deficit compared to the same period last year.
In July, the trade deficit marked a 4.4 percent increase, worth 444.7m euros. The change was reported to 2022, when the trade deficit was 426.1m euros.
The highest commercial deficit growth was registered in May 2023, with an increase of 20.5 percent compared to May 2022. This shows an obvious deterioration of trade balance.
The deficit value in May 2023 reached 443.3m euros, compared to the 367.8m euros in 2022.
The month of March 2023 also marked an apparent increase in the commercial deficit by 5.3 percent, with its worth being 426.8m euros compared with 405.3m euros in 2022.
The significant increase in the trade deficit was also in January, reaching 6.4 percent, where the value affected the figure of 291.5 million euros compared to 273.8m euros in 2022.
In April and June 2023, there has been a minimal change with a decrease in the trade deficit, for -0.2 and 4.6 percent respectively.
2023 Shut up Kurt
Export data in the last five years to the Kosovo Statistics Agency shows an exponential increase since 2021. Kurti constantly used these figures to claim that his government “has raised the image of the Republic of Kosovo. ”
The situation has changed in 2023, where Kosovo's export in almost all monthly reports has marked negative trends compared to the same months of the previous year.
Prime Minister Kurti, unlike the previous year where he was praised with Kosovo's performance in exports, has not commented on the situation with Kosovo's recent foreign trade. This year's reports broadcast a negative export flow compared to the previous year.
According to the AKS, during July Kosovo's export has scored 11.8 per cent, in June for 8.1 per cent, in May 1.6 per cent, in April for 16.9 per cent, in March for 7.7 per cent, and in January for 3.2 per cent.
