27, Apr 2015, EDT. Welcome to the Kosovo economic statistics pages provided by the beta version of EconomyWatch.com's Econ Stats database.
Economic Indicators For: Kosovo › Change country
National or Regional Currency: Euro, EUR
Year of data: 2014 › Change year
Number of Indicators Listed: 24
Full Dataset: From Year 1980 to 2019
Date of Last Update: 17th March 2015
Population: 1,859,203 (July 2014 est.)
Area: total: 10,887 sq km ; land: 10,887 sq km ; water: 0 sq km
Natural Resources: nickel, lead, zinc, magnesium, lignite, kaolin, chrome, bauxite
Capital: name: Pristina (Prishtine, Prishtina) ; geographic coordinates: 42 40 N, 21 10 E ; time difference: UTC+1 (6 hours ahead of Washington, DC during Standard Time) ; daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October
Kosovo's economy has shown significant progress in transitioning to a market-based system and maintaining macroeconomic stability, but it is still highly dependent on the international community and the diaspora for financial and technical assistance. Kosovo's citizens are the poorest in Europe with a per capita GDP (PPP) of $7,600 in 2013. An unemployment rate of 45% encourages emigration and fuels a significant informal, unreported economy. Remittances from the diaspora - located mainly in Germany, Switzerland, and the Nordic countries - are estimated to account for about 15% of GDP, and donor-financed activities and aid for approximately 10%. Most of Kosovo's population lives in rural towns outside of the capital, Pristina. Inefficient, near-subsistence farming is common - the result of small plots, limited mechanization, and lack of technical expertise. With international assistance, Kosovo has been able to privatize a majority of its state-owned-enterprises. Minerals and metals - including lignite, lead, zinc, nickel, chrome, aluminum, magnesium, and a wide variety of construction materials - once formed the backbone of industry, but output has declined because of ageing equipment and insufficient investment. A limited and unreliable electricity supply due to technical and financial problems is a major impediment to economic development, but Kosovo has received technical assistance to help improve accounting and controls and, in 2012, privatized its distribution network. The US Government is cooperating with the Ministry for Energy and Mines and the World Bank to prepare commercial tenders for the construction of a new power plant, rehabilitation of an old plant, and the development of a coal mine that could supply both. In July 2008, Kosovo received pledges of $1.9 billion from 37 countries in support of its reform priorities, but the global financial crisis has limited this assistance and also negatively affected remittance inflows. In June 2009, Kosovo joined the World Bank and International Monetary Fund, and Kosovo began servicing its share of the former Yugoslavia's debt. In order to help integrate Kosovo into regional economic structures, UNMIK signed (on behalf of Kosovo) its accession to the Central Europe Free Trade Area (CEFTA) in 2006. Serbia and Bosnia previously had refused to recognize Kosovo's customs stamp or extend reduced tariff privileges for Kosovo products under CEFTA, but both countries resumed trade with Kosovo in 2011. The official currency of Kosovo is the euro, but the Serbian dinar is also used illegally in Serb enclaves. Kosovo's tie to the euro has helped keep core inflation low. Kosovo maintained a budget surplus until 2011, when government expenditures climbed sharply. In 2013 Kosovo signed a Free Trade Agreement with Turkey and is negotiating liberalization of trade with EU as part of a Stabilization and Association Agreement.
More on the Kosovo Economy
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GDP (Constant Prices, National Currency) for Kosovo in year 2014 is EUR 5.473 Billion.
GDP (Current Prices, National Currency) for Kosovo in year 2014 is EUR 5.526 Billion.
GDP (Current Prices, US Dollars) for Kosovo in year 2014 is US$ 7.485 Billion.
GDP Deflator for Kosovo in year 2014 is 100.983 (Index, Base Year as per country's accounts = 100).
GDP (PPP), US Dollars for Kosovo in year 2014 is US$ 16.893 Billion.
Inflation, Average Consumer Prices (Indexed to Year 2000) for Kosovo in year 2014 is 100.976 (Index, Base Year 2000 = 100).
Inflation, End of Year (Indexed to Year 2000) for Kosovo in year 2014 is 101.741 (Index, Base Year 2000 = 100).
General government revenue (National Currency) for Kosovo in year 2014 is EUR 1.366 Billions.
General government total expenditure (National Currency) for Kosovo in year 2014 is EUR 1.486 Billions.
Total Government Net Lending/ Borrowing (National Currency) for Kosovo in year 2014 is EUR -0.12 Billions.
Fiscal Year Gross Domestic Product, Current Prices for Kosovo in year 2014 is EUR 5.526 Billions.
Current Account Balance (US Dollars) for Kosovo in year 2014 is US$ -0.542 Billion.
|Number of Internet Users for Kosovo|
|Internet Penetration Rate for Kosovo|
|Number of Facebook Accounts for Kosovo|
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|Corruption Perceptions Index Rank and Score for Kosovo|
Data Sources: IMF, World Bank, UN, OECD, CIA World Factbook, Internet World Statistics, The Heritage Foundation and Transparency International