Kosovo trade deficit increased to EUR 209 million in February of 2019 from EUR 183 million in the corresponding month of the previous year. Imports rose 13.4 percent to EUR 233 million, boosted by higher purchases of mineral products (20.8 percent) and machinery, appliances & electric materials (4.5 percent). Among major trading partners, imports advanced from Germany (13.7 percent) and Turkey (28.8 percent). Meanwhile, exports went up 7.4 percent to EUR 24 million, as sales of plastics, rubber & articles thereof rose 26.7 percent. Shipments increased to Albania (28.4 percent) and Macedonia (6.7 percent) but fell to Switzerland (-12.8 percent). Balance of Trade in Kosovo averaged -157696.68 EUR Thousand from 2003 until 2019, 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.