Kosovo’s GDP advanced at a record 16.3 percent year-on-year in the second quarter of 2021, following a downwardly revised 4.2 percent rise in the previous period, on the back of large favourable base effects from the pandemic shock last year. Net external demand contributed significantly to growth as total exports jumped 127 percent (vs 13.3 percent in Q1) while imports rose at a slower 53.7 percent (vs 18.4 percent in Q1). At the same time, gross capital formation (31.2 percent vs 14.6 percent) and household consumption (15 percent vs 4.1 percent) expanded solidly. Meanwhile, government spending slowed (9.2 percent vs 22.7 percent). source: Kosovo Agency of Statistics

GDP Annual Growth Rate in Kosovo averaged 3.55 percent from 2006 until 2021, reaching an all time high of 16.28 percent in the second quarter of 2021 and a record low of -7.10 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 October of 2021.

GDP Annual Growth Rate in Kosovo is expected to be 5.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Kosovo GDP Annual Growth Rate is projected to trend around 4.20 percent in 2022 and 2.00 percent in 2023, according to our econometric models.

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Kosovo GDP Annual Growth Rate


Calendar GMT Actual Previous Consensus TEForecast
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 01:00 PM Q1 5.57% 0.8% -0.5%
2021-09-28 02:30 PM Q2 16.28% 4.22% 7.2%
2021-12-23 01:30 PM Q3 16.28%


News Stream
Kosovo Sees Record Growth in Q2
Kosovo’s GDP advanced at a record 16.3 percent year-on-year in the second quarter of 2021, following a downwardly revised 4.2 percent rise in the previous period, on the back of large favourable base effects from the pandemic shock last year. Net external demand contributed significantly to growth as total exports jumped 127 percent (vs 13.3 percent in Q1) while imports rose at a slower 53.7 percent (vs 18.4 percent in Q1). At the same time, gross capital formation (31.2 percent vs 14.6 percent) and household consumption (15 percent vs 4.1 percent) expanded solidly. Meanwhile, government spending slowed (9.2 percent vs 22.7 percent).
2021-09-28
Kosovo GDP Annual Growth Rate at 5.6% in Q1
Kosovo’s GDP grew 5.57 percent year-on-year in the first quarter of 2021, following an upwardly revised 0.82 percent expansion in the previous period. Household consumption advanced faster (4.92 percent vs 1.83 percent) and both government expenditure (22.69 percent vs -0.25 percent) and gross capital formation (14.9 percent vs -0.85 percent) rebounded. Meantime, foreign demand contributed negatively to GDP, as exports rose 13.57 percent (vs 11.17 percent in Q4) and imports climbed at a faster 17.47 percent (vs 4.68 percent).
2021-06-23
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 Last Unit Reference Previous Highest Lowest
GDP Annual Growth Rate 16.28 percent Jun/21 4.22 16.28 -9.07
GDP Constant Prices 7058.30 EUR Million Dec/19 6658.40 7058.30 3616.10
Gross Fixed Capital Formation 2016.80 EUR Million Dec/19 1834.30 2016.80 979.90
GDP From Utilities 58.60 EUR Million Mar/21 62.00 68.20 31.00
GDP From Transport 44.70 EUR Million Mar/21 64.30 102.40 37.40
GDP From Services 143.30 EUR Million Mar/21 276.00 294.60 97.50
GDP From Public Administration 110.35 EUR Million Mar/21 103.40 226.00 94.30
GDP From Mining 36.50 EUR Million Mar/21 25.40 46.10 22.70
GDP From Manufacturing 158.50 EUR Million Mar/21 281.60 295.80 100.10
GDP From Construction 105.00 EUR Million Mar/21 158.20 175.90 34.10
GDP From Agriculture 93.74 EUR Million Mar/21 141.04 196.60 91.40


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.