Kosovo’s GDP shrank by 9.3 percent year-on-year in the second quarter of 2020, after a 1.3 percent growth in the previous period. It was the first GDP contraction since Q2 of 2014 and the steepest on record due to the coronavirus pandemic. Gross capital formation slumped 41.1 percent (vs -5.9 percent in Q1) and net trade contributed negatively to GDP, as exports tumbled 43.8 percent (vs 5 percent in Q1) while imports fell at a softer 19.8 percent (vs 5.2 percent in Q1). Also, household consumption slowed (3.5 percent vs 5.2 percent) while government expenditure rebounded (8.6 percent vs -1 percent).
GDP Annual Growth Rate in Kosovo averaged 3.39 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 -9.30 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 2020. source: Kosovo Agency of Statistics
GDP Annual Growth Rate in Kosovo is expected to be -6.40 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 6.90 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.