Economy of Kosovo

Economy of Kosovo
Kosovan capital and largest city Pristina
CurrencyEuro (EUR)
Calendar year
Trade organisations
CEFTA
Country group
Statistics
Population1,761,985 (2022)[3]
GDP
  • $11.2 billion (nominal, 2024 est.)[4]
  • $29.6 billion (PPP, 2024)[4]
GDP rank
GDP growth
  • +3.5% (2022)
  • +3.8% (2023)
  • +4.0% (2024)[4]
GDP per capita
  • $6,340 (nominal, 2024)[4]
  • $16,760 (PPP, 2024)[4]
GDP per capita rank
GDP by sector
10.5% (2023)[6]
Population below poverty line
  • 17.6% (2015)[7]
  • 34% on less than $6.85/day (2017)[8]
29.0 low (2017)[9]
Labour force
  • 500,300 (2017)[5]
  • includes those elements estimated to be employed in the grey economy[5]
Labour force by occupation
  • agriculture: 4.4%
  • industry: 17.4%
  • services: 78.2%
  • (2017)[5]
Unemployment16.6% (Q1, 2022)[11]
Average gross salary
528€/579 $ monthly [12]
471€/516$ monthly [12]
Main industries
mineral mining, construction materials, base metals, leather, machinery, appliances, foodstuffs & beverages, textiles[5]
External
Exports$1 billion (2022)[13]
Export goods
Mining & processed metal products, mineral products, food and beverages, products of plastic and rubber, agricultural products, leather products, textile, machinery and electrical components.
Main export partners
Imports$5 billion (2021)[15]
Import goods
Mineral products, food and beverages, machinery and electrical components, vehicles, chemical products, products of plastic and rubber, agricultural products, textile, live animals[15]
Main import partners
$1.175 million (2017)[17]
Public finances
16.6% of GDP (2017)[17]
Revenues€3,214 billion (2023)[17]
Expenses€TBA billion (2023)[17]
n/av
Main data source: CIA World Fact Book
All values, unless otherwise stated, are in US dollars.

The economy of Kosovo is a transition economy. Kosovo was the poorest province of the former Yugoslavia with a modern economy established only after a series of federal development subsidies in the 1960s and the 1970s.[18]

During the 1990s, the abolition of the province's autonomous institutions was followed by poor economic policies, international sanctions, little access to external trade and finance, and ethnic conflict. These factors severely damaged the already-weak economy.[19] Since the declaration of independence in 2008, Kosovo's economy has grown each year, with relatively low effects from the global financial crisis. There are many weaknesses for its potential in the future, many of them related to its internationally disputed status. The last census that was not boycotted by either Serbs or Albanians took place in 1981, when it was determined that Kosovo had a population of 1.58 million, of which 209,497 were Serbs. The actual number of Albanians living in Kosovo in 2023 is between 1,162,000 and 1,325,000, and the number of Serbs will be around 90,000. In the period from 2013 to 2016, the number of economically motivated Albanian migrants from Kosovo in EU countries was 229,005, while it is estimated that the total number of Albanians from Kosovo who are emigrants in the period from 1990 to 2023 exceeds 700,000. But here are also potential strengths, including its very low level of government debt (as most of historical debts are still paid by Serbia[citation needed]), future liabilities, and the strength of its banking system (despite remaining obstacles to using this for productive loans).[20]

  1. ^ "World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Retrieved 29 September 2019.
  2. ^ "World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Retrieved 29 September 2019.
  3. ^ "Population, total - Kosovo". data.worldbank.org. World Bank. Retrieved 11 February 2020.
  4. ^ a b c d e "World Economic Outlook database: October 2023". IMF.org. International Monetary Fund. Retrieved 14 March 2021.
  5. ^ a b c d e CIA World Factbook https://www.cia.gov/the-world-factbook/countries/kosovo/
  6. ^ "Archived copy". Archived from the original on 2023-04-06. Retrieved 2022-06-14.{{cite web}}: CS1 maint: archived copy as title (link)
  7. ^ "Poverty headcount ratio at national poverty lines (% of population) - Kosovo". data.worldbank.org. World Bank. Retrieved 11 February 2020.
  8. ^ "Poverty headcount ratio at $6.85 a day (2017 PPP) (% of population) - Kosovo". data.worldbank.org. World Bank. Retrieved 11 February 2020.
  9. ^ "GINI index (World Bank estimate) - Kosovo". data.worldbank.org. World Bank. Retrieved 13 October 2019.
  10. ^ "HDI index (Global Data Lab estimate) - Kosovo". globaldatalab.org. Global Data Lab. Retrieved 14 March 2021.
  11. ^ https://ask.rks-gov.net/sq/agjencia-e-statistikave-te-kosoves/add-news/anketa-e-fuqise-punetore-afp-tm1-2022. {{cite web}}: Missing or empty |title= (help)
  12. ^ a b "Level of wage in Kosovo, 2012-2016 |". Archived from the original on 2023-05-19. Retrieved 2018-02-10.
  13. ^ "Foreign Trade of Goods, 2022 |" (PDF). Archived from the original (PDF) on 2023-04-06. Retrieved 2023-01-25.
  14. ^ "International Trade Statistics". ask.rks-gov.net/. Kosovo Agency of Statistics. Archived from the original on 5 May 2023. Retrieved 25 September 2021.
  15. ^ a b Kosovo Agency of Statistics /
  16. ^ "International Trade Statistics". ask.rks-gov.net/. Kosovo Agency of Statistics. Archived from the original on 5 May 2023. Retrieved 25 July 2021.
  17. ^ a b c d "Llogaritë Qeveritare, 2017 |". Archived from the original on 2023-04-06. Retrieved 2018-06-07.
  18. ^ Pond, Elizabeth, "Why Turbulent Kosovo has Marble Sidewalks but Troubled Industries". Christian Science Monitor, 15 December 1981.
  19. ^ "Kosovo". Retrieved 8 February 2015.
  20. ^ Republic of Kosovo: 2011 Article IV Consultation and the Initiation of a Staff-Monitored Program—Staff Report; Public Information Notice on the Executive Board Discussion International Monetary Fund (Report no: 11/210 ). July 2011 Retrieved 11 December 2022

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