Publishing of External Sector statistics for the fourth quarter of 2024 and Balance of Payments for the month of January 2025

According to the publication calendar, the Central Bank of the Republic of Kosovo published the External Sector statistics for the fourth quarter of 2024 and the Balance of Payments for the month of January 2025.

International investment position – until the fourth quarter of 2024 was characterized by an increase in the value of international assets by 156.86 million euros and international obligations by 459.03 million euros. The accumulated value of international assets at the end of December 2024 amounted to 8.24 billion euros, while the value of obligations was 10.36 billion euros.

Increase of international assets – in the fourth quarter of 2024, direct investment category contributed with 60.31 million euros, investments in securities 146.37 million euros, and the other investment category 96.08 million euros. Meanwhile, reserve assets decreased by 145.91 million euros.

In the framework of external obligations – during the fourth quarter of 2024, foreign direct investments in Kosovo increased by 187.34 million euros, while other investments increased by 271.69 million euros.

Gross external debt – which includes public and private debt at the end of the fourth quarter of 2024, reached 4.23 billion euros, which represents an increase of 254.61 million euros compared to the previous quarter. The main contributor to the increase in external debt in Kosova was the private sector for 171.31 million euros, while public debt increased by 83.29 million.

Public sector debt – at the end of 2024 amounted to 955.91 million euros, accounting for 22.59% of total external debt. The largest part of public debt consists of government external debt, which at the end of the fourth quarter of 2024 was 782.39 million euros.

Private sector debt –at the end of the fourth quarter of 2024 amounted to 3.27 billion euros. The participants in private debt are: commercial banks with 18.86%, direct investment companies with 29.16% and other sectors with 51.98%.

Balance of Payments – until the end of January 2025 was characterized by a current account deficit in the amount of 21.36 million euros, which shows deepening of the deficit compared to the same period last year when current account had a surplus of 6.78 million euros. The biggest cause of this deficit is the increase in the trade balance deficit.

The trade balance in goods – until January 2025 marked a deficit of 379.26 million euros, which is 31.16% higher compared to the same period of the previous year. Exports marked the value of 61.16 million euros, with an increase of 0.46%, while imports recorded an increase of 25.82%, reaching a value of 440.42 million euros.

Utility account –which constantly has a positive balance, at the end of January 2025 amounted to 197.55 million euros, which represents a higher level of positive balance by 32.41% compared to the same period last year.

Primary income – until January 2025, recorded a positive balance of 22.06 million euros, while in the same period last year had a value of 9.94 million euros. This represents an increase of 121.86%.

Secondary income – remains the main contributor to mitigating the current account deficit. Until January 2025 this account recorded a positive balance of 138.29 million euros, representing an increase of 1.08% compared to the same period last year.

Remittances – are the main category within secondary income, the value of which until January 2025 marked 86.14 million euros, approximately at the same level compared to the same period in 2024. According to preliminary estimates, remittances for February 2025 were around 88.12 million euros, thus reaching the value of 174.26 million euros (preliminary) for the first two months of 2025. The largest inflows during February 2025 were also through non-financial financial institutions with 62.65%, commercial banks with 16.45% and other channels with 20.90%.

Assets in the financial account – until January 2025 recorded a positive balance of 25.04 million euros, while financial obligations  recorded a negative balance of 1.9 million euros.

Direct investments in Kosovo – until January 2025 were 90.96 million euros, which represents an increase of 12.19% compared to the same period last year, while direct investments outside Kosova amounted to 16.19 million euros, with an increase of 19.12% compared to January 2024.

Reserve assets – until January 2025 have increased by 45.95 million euros, while in the same period of the previous year were 15.21 million euros. The increase in reserve assets contributed to the increase in deposits by 45.95 million euros, while there were no investments in securities during January 2025.

Complete details may be found at the following link 🔗 Time Series – BQK.