Kosovo trade deficit increased to EUR 296.4 million in July of 2019 from EUR 281.5 million in the corresponding month of the previous year. Exports went up 40.5 percent to EUR 40.5 million, boosted by higher sales of base metals and articles thereof (67.7 percent); prepared foodstuffs, beverages and tobacco (11.6 percent) and plastics, rubber and articles thereof (10.0 percent). Among major trading partners, shipments increased to India (675 percent) and Macedonia (18.7 percent) while those fell to Albania (-1.2 percent). Imports went up 8.6 percent to EUR 336.9 million, due to higher purchases of mineral products (14.2 percent) and prepared foodstuffs, beverages and tobacco (9.1 percent). On the other hand, imports dropped for machinery & transport equipment (-0.1 percent). Imports advanced from Germany (17.6 percent) and Turkey (32.4 percent). Balance of Trade in Kosovo averaged -160505.36 EUR Thousand from 2003 until 2019, reaching an all time high of -46937 EUR Thousand in January of 2003 and a record low of -296396 EUR Thousand in July of 2019.
Balance of Trade in Kosovo is expected to be -248097.34 EUR Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Kosovo to stand at -267800.00 in 12 months time. In the long-term, the Kosovo Balance of Trade is projected to trend around -266600.00 EUR Thousand in 2020, according to our econometric models.