Kosovo’s GDP grew 0.7 percent year-on-year in the fourth quarter of 2020, after a 7.3 percent contraction in the previous period. Household consumption advanced 3.8 percent (vs 16.92 percent in Q3) and government expenditure went up 3.12 percent (vs 5.99 percent) while gross fixed capital formation shrank 10.94 percent (vs -10.18 percent). Meantime, foreign demand contributed positively to growth, as exports rose 11.16 percent (vs -51.91 percent in Q3) while imports rose at a softer 3.68 percent (vs -13.51 percent). source: Kosovo Agency of Statistics

GDP Annual Growth Rate in Kosovo averaged 3.09 percent from 2006 until 2020, reaching an all time high of 10.90 percent in the first quarter of 2011 and a record low of -9.30 percent in the second quarter of 2020. This page provides the latest reported value for - Kosovo GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Kosovo GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2021.

GDP Annual Growth Rate in Kosovo is expected to be 6.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Kosovo to stand at 5.20 in 12 months time. In the long-term, the Kosovo GDP Annual Growth Rate is projected to trend around 5.20 percent in 2022 and 2.00 percent in 2023, according to our econometric models.

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Kosovo GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.70 -7.30 10.90 -9.30 2006 - 2020 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2020-06-26 12:30 PM Q1 1.3% 3.9% -2%
2020-09-30 12:30 PM Q2 -9.3% 1.3% -7.1%
2020-12-24 02:30 PM Q3 -7.3% -9.3% -6.4%
2021-04-02 12:30 PM Q4 0.7% -7.3% -4.6%
2021-06-23 12:30 PM Q1 0.7%
2021-09-28 12:30 PM Q2
2021-12-23 01:30 PM Q3


News Stream
Kosovo GDP Annual Growth Rate at 0.7% in Q4
Kosovo’s GDP grew 0.7 percent year-on-year in the fourth quarter of 2020, after a 7.3 percent contraction in the previous period. Household consumption advanced 3.8 percent (vs 16.92 percent in Q3) and government expenditure went up 3.12 percent (vs 5.99 percent) while gross fixed capital formation shrank 10.94 percent (vs -10.18 percent). Meantime, foreign demand contributed positively to growth, as exports rose 11.16 percent (vs -51.91 percent in Q3) while imports rose at a softer 3.68 percent (vs -13.51 percent).
2021-04-02
Kosovo Economy Contracts 7% in Q3
Kosovo’s GDP shrank by 7.3 percent year-on-year in the third quarter of 2020, after a record 9.3 percent contraction in the previous period. Household consumption grew at a much faster rate (16.9 percent vs 3.5 percent in Q2) while government spending slowed (6.0 percent vs 8.6 percent). Regarding net trade, exports slumped 51.9 percent (vs -43.8 percent in Q2) and imports dropped at a softer 13.5 percent (vs -19.8 percent in Q2).
2020-12-24
Kosovo Economy Contracts at Record Pace
Kosovo’s GDP shrank by 9.3 percent year-on-year in the second quarter of 2020, after a 1.3 percent growth in the previous period. It was the first GDP contraction since Q2 of 2014 and the steepest on record due to the coronavirus pandemic. Gross capital formation slumped 41.1 percent (vs -5.9 percent in Q1) and net trade contributed negatively to GDP, as exports tumbled 43.8 percent (vs 5 percent in Q1) while imports fell at a softer 19.8 percent (vs 5.2 percent in Q1). Also, household consumption slowed (3.5 percent vs 5.2 percent) while government expenditure rebounded (8.6 percent vs -1 percent).
2020-10-01
Kosovo Q1 GDP Growth Weakest since 2014
Kosovo’s GDP advanced 1.3 percent year-on-year in the first quarter of 2020, slowing from a 3.9 percent growth in the previous period. It marked the slowest pace of expansion since the second quarter of 2014, amid the adverse impact of the global pandemic. Household consumption slowed sharply (0.2 percent vs 2.6 percent in Q4) while both gross capital formation (-9.4 percent vs 4.6 percent) and government spending (-1 percent vs 6.6 percent) posted declines. Meantime, net trade contributed positively to growth, as exports surged 29.5 percent (vs 12.9 percent in Q4) while imports went up 4.1 percent (vs 5.7 percent in Q4).
2020-06-26

Kosovo GDP Annual Growth Rate
The private sector consumption and investments are the most important factors behind economic growth in Kosovo. The country is plagued by a high rate of unemployment, it’s assumed that the shadow economy employs most of the registered unemployed. On the expenditure side, household consumption is the main component of GDP and accounts for 88 percent of its total use, followed by gross capital formation (26 percent) and government expenditure (17 percent). Exports of goods and services account for 20 percent of GDP while imports account for 51 percent, subtracting 31 percent of total GDP. Kosovo is one of the few counties outside the EU that has introduced the Euro as its official currency.