Kosovo Economy - 2023

GEOGRAPHICAL NAMES 

Economic overview

small-but-growing European economy; non-EU member but unilateral euro user; very high unemployment, especially youth; vulnerable reliance on diaspora tourism services, curtailed by COVID-19 disruptions; unclear public loan portfolio health

Real GDP (purchasing power parity)

$21.226 billion (2021 est.)

$19.166 billion (2020 est.)

$20.247 billion (2019 est.)

note: data are in 2017 dollars

Real GDP growth rate

10.75% (2021 est.)

-5.34% (2020 est.)

4.76% (2019 est.)

Real GDP per capita

$11,900 (2021 est.)

$10,700 (2020 est.)

$11,300 (2019 est.)

note: data are in 2017 dollars

GDP (official exchange rate)

$7.926 billion (2019 est.)

Inflation rate (consumer prices)

3.35% (2021 est.)

0.2% (2020 est.)

2.68% (2019 est.)

GDP - composition, by sector of origin

agriculture: 11.9% (2017 est.)

industry: 17.7% (2017 est.)

services: 70.4% (2017 est.)

GDP - composition, by end use

household consumption: 84.3% (2017 est.)

government consumption: 13.6% (2017 est.)

investment in fixed capital: 29% (2017 est.)

investment in inventories: 0% (2016 est.)

exports of goods and services: 27% (2017 est.)

imports of goods and services: -53.8% (2017 est.)

Agricultural products

wheat, corn, berries, potatoes, peppers, fruit; dairy, livestock; fish

Industries

mineral mining, construction materials, base metals, leather, machinery, appliances, foodstuffs and beverages, textiles

Industrial production growth rate

7.76% (2021 est.)

Labor force

500,300 (2017 est.)

note: includes those estimated to be employed in the gray economy

Labor force - by occupation

agriculture: 4.4%

industry: 17.4%

services: 78.2% (2017 est.)

Unemployment rate

30.5% (2017 est.)

27.5% (2016 est.)

note: Kosovo has a large informal sector that may not be reflected in these data

Youth unemployment rate (ages 15-24)

total: 48.8%

male: 44.9%

female: 57.3% (2020 est.)

Population below poverty line

17.6% (2015 est.)

Gini Index coefficient - distribution of family income

29 (2017 est.)

Household income or consumption by percentage share

lowest 10%: 3.8%

highest 10%: 22% (2015 est.)

Budget

revenues: $1.951 billion (2020 est.)

expenditures: $2.547 billion (2020 est.)

Budget surplus (+) or deficit (-)

-2.1% (of GDP) (2017 est.)

Public debt

21.2% of GDP (2017 est.)

19.4% of GDP (2016 est.)

Taxes and other revenues

29% (of GDP) (2017 est.)

Current account balance

-$818.351 million (2021 est.)

-$541.106 million (2020 est.)

-$447.233 million (2019 est.)

Exports

$3.138 billion (2021 est.) note: data are in current year dollars

$1.687 billion (2020 est.) note: data are in current year dollars

$2.312 billion (2019 est.) note: data are in current year dollars

Exports - partners

United States 16%, Albania 15%, North Macedonia 12%, Germany 8%, Italy 8% (2021)

Exports - commodities

mattress materials, iron alloys, metal piping, scrap iron, building plastics, mineral water, seating (2021)

Imports

$6.128 billion (2021 est.) note: data are in current year dollars

$4.187 billion (2020 est.) note: data are in current year dollars

$4.454 billion (2019 est.) note: data are in current year dollars

Imports - partners

Germany 13%, Turkey 13%, China 10%, Serbia 7%, Italy 6% (2021)

Imports - commodities

refined petroleum, cars, iron rods, electricity, cigars, packaged medicines (2021)

Reserves of foreign exchange and gold

$1.244 billion (31 December 2021 est.)

$1.095 billion (31 December 2020 est.)

$965.832 million (31 December 2019 est.)

Debt - external

$2.388 billion (2019 est.)

$2.409 billion (2018 est.)

Exchange rates

euros (EUR) per US dollar -

0.845 (2021 est.)

0.877 (2020 est.)

0.893 (2019 est.)

0.847 (2018 est.)

0.885 (2017 est.)

NOTE: The information regarding Kosovo on this page is re-published from the 2023 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Kosovo 2023 information contained here. All suggestions for corrections of any errors about Kosovo 2023 should be addressed to the CIA or the source cited on each page.