Kosovo continues to grapple with a trade deficit, with the United States and Turkey emerging as crucial partners for both exports and imports. In January 2024, the trade deficit expanded to €319.7 million, compared to €291.5 million in 2023. While exports amounted to €60.3 million, imports reached €380.0 million.

The United States stands as Kosovo’s most significant trading partner, playing a pivotal role in both strategic alliance and export endeavors. In January 2024, export values reached €20.1 million, with the United States accounting for 14.6%, followed by Switzerland at 9.3%.

Data from Kosovo’s External Trade reveal that exports to EU countries totaled €18.4 million, constituting approximately 30.5% of total exports, with Germany being the leading destination at 8.8%, followed by Italy at 4.7%.

On the import side, Kosovo imported around €164.4 million from EU countries, making up 43.3% of total imports, with Germany contributing 12.8%, Greece 7.2%, and Italy 3.7%.

Turkey remains a key partner for imports, constituting 15.4% of Kosovo’s total imports, followed by China at 11.3%. Despite a 16.2% decrease in exports to CEFTA countries, they still accounted for 36.1% of total exports, with North Macedonia, Albania, and Serbia being the leading partners.

Importantly, Kosovo faces a concerning trend of declining export values. In January 2024, exports amounted to €60.3 million, reflecting a 3% decrease, while imports increased by 7.4% to €380 million compared to the same period in 2023.

According to the Statistical Agency of Kosovo, the trade deficit has widened by 9.9% in January 2024 compared to the same period in 2023, reaching €319.7 million, with exports covering only 15.9% of imports.

Key export categories include base metals and their products, miscellaneous manufactured articles, plastics and rubber, prepared foods, beverages and tobacco, as well as machinery and mechanical and electrical equipment.

Despite facing trade challenges, Kosovo remains committed to exploring opportunities with its significant partners, and efforts to address the trade deficit are likely to be a focal point in the coming months.