The trade gap in Kosovo increased to EUR 257.3 million in September of 2018 from EUR 214 million in the corresponding month of the previous year. Imports jumped 18.5 percent to EUR 294 million, boosted by higher purchases of manufactured goods (+26 percent); machinery & transport equipment (+21.9 percent) and food & live animals (+5.1 percent). Among major trading partners, imports went up mostly from Turkey (+39.3 percent) and China (+23.6 percent). On the other hand, purchases declined from Serbia (-6.8 percent) and Germany (-1 percent). Meanwhile, exports advanced 7.6 percent to EUR 36.7 million, mainly due to higher sales of manufactured goods (+35.1 percent); miscellaneous manufactured articles (+17.4 percent) and food & live animals (+6.9 percent). Shipments increased to India (+47 percent); Albania (+7.8 percent) and Germany (+16.8 percent); while those to Macedonia (-20.5 percent) decreased. Balance of Trade in Kosovo averaged -155731.21 EUR Thousand from 2003 until 2018, reaching an all time high of -46937 EUR Thousand in January of 2003 and a record low of -280285 EUR Thousand in July of 2018.
Balance of Trade in Kosovo is expected to be -231600.00 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.