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).
GDP Annual Growth Rate in Kosovo averaged 3.69 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 -4.50 percent in the first quarter of 2012. 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 July of 2020. source: Kosovo Agency of Statistics
GDP Annual Growth Rate in Kosovo is expected to be -7.10 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 1.00 in 12 months time. In the long-term, the Kosovo GDP Annual Growth Rate is projected to trend around 5.20 percent in 2021 and 2.00 percent in 2022, according to our econometric models.