Kosovo trade deficit increased to EUR 259.6 million in March of 2019 from EUR 228.9 million in the corresponding month of the previous year. Exports went up 11.8 percent to EUR 29.5 million, boosted by higher sales of base metals (43.4 percent) and plastics & rubber (15.3 percent). Among major trading partners, shipments increased to Albania (1.6 percent), Macedonia (5.9 percent) and Germany (25.6 percent). Imports rose 13.2 percent to EUR 289.1 million, due to higher purchases of mineral products (18.5 percent) and prepared foodstuffs, beverages & tobacco (9.5 percent). Imports advanced from Germany (30.5 percent), Turkey (55.7 percent) and China (20.3 percent). Balance of Trade in Kosovo averaged -158219.36 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 -216500.00 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.