Kosovo - Economy
How is the economy of Kosovo? Based on the information we have, Kosovo has a 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. Key agricultural products in this country include: wheat, corn, berries, potatoes, peppers, fruit; dairy, livestock; fish.
More about the economy of Kosovo
| Labor force | 500,300 (2017 est.) |
|---|---|
| Industrial production growth rate | 1.56% (2023 est.) |
| Industries | mineral mining, construction materials, base metals, leather, machinery, appliances, foodstuffs and beverages, textiles |
| Population below poverty line | 17.6% (2015 est.) |
| Taxes and other revenues | 29% (of GDP) (2017 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | euros (EUR) per US dollar - |
| Exchange rates 2023 | 0.925 (2023 est.) |
| Exchange rates 2022 | 0.951 (2022 est.) |
| Exchange rates 2021 | 0.845 (2021 est.) |
| Exchange rates 2020 | 0.877 (2020 est.) |
| Exchange rates 2019 | 0.893 (2019 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2023 | $1.245 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $1.248 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $1.244 billion (2021 est.) |
| Current account balance | |
| Current account balance 2023 | -$794.765 million (2023 est.) |
| Current account balance 2022 | -$983.283 million (2022 est.) |
| Current account balance 2021 | -$818.351 million (2021 est.) |
| Public debt | |
| Public debt 2017 | 21.2% of GDP (2017 est.) |
| Budget | |
| Revenues | $1.951 billion (2020 est.) |
| Expenditures | $2.547 billion (2020 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 18.2% of GDP (2023 est.) |
| Remittances 2022 | 17.24% of GDP (2022 est.) |
| Remittances 2021 | 18.01% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 3.8% (2017 est.) |
| Highest 10% | 24.6% (2017 est.) |
| Imports | |
| Imports 2023 | $7.362 billion (2023 est.) |
| Imports 2022 | $6.661 billion (2022 est.) |
| Imports 2021 | $6.128 billion (2021 est.) |
| Imports (partners) | Germany 13%, Turkey 13%, China 10%, Serbia 7%, Italy 6% (2021) |
| Comodities Imports force | refined petroleum, cars, iron rods, electricity, cigars, packaged medicines (2021) |
| Exports | |
| Imports 2023 | $7.362 billion (2023 est.) |
| Imports 2022 | $6.661 billion (2022 est.) |
| Imports 2021 | $6.128 billion (2021 est.) |
| Exports (partners) | United States 16%, Albania 15%, North Macedonia 12%, Germany 8%, Italy 8% (2021) |
| Comodities Exports force | mattress materials, iron alloys, metal piping, scrap iron, building plastics, mineral water, seating (2021) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $23.794 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $23.025 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $22.08 billion (2021 est.) |
| GDP (official exchange rate) | $10.438 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $13,500 (2023 est.) |
| Real GDP per capita 2022 | $13,000 (2022 est.) |
| Real GDP per capita 2021 | $12,400 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 7.8% (2023 est.) |
| Industry | 26.3% (2023 est.) |
| Services | 46% (2023 est.) |
| GDP - composition, by end use | |
| Household consumption | 83.9% (2023 est.) |
| Government consumption | 12.5% (2023 est.) |
| Investment in fixed capital | 31.6% (2023 est.) |
| Investment in inventories | 2.7% (2023 est.) |
| Exports of goods and services | 39.7% (2023 est.) |
| Imports of goods and services | -70.5% (2023 est.) |
| Unemployment rate | |
| Unemployment rate 2017 | 30.5% (2017 est.) |
| Unemployment rate 2016 | 27.5% (2016 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 48.8% (2020 est.) |
| Male | 44.9% |
| Female | 57.3% |
All Important Facts about Kosovo
Want to know more about Kosovo? Check all different factbooks for Kosovo below.
