30/08/2024

According to the publication calendar, the CBK published the statistics: Balance of Payments (BP) for the month of June 2024 (https://bqk-kos.org/statistikat/serite-kohore/).

The balance of payments at the end of June 2024 was characterized by a current account deficit of 681.40 million euros, with an increase of 135.28 million euros compared to  the same period last year.

The trade balance in goods at the end of June 2024 marked a deficit of 2,230.68 million euros, which is 8.21% higher than the same period of the previous year. Exports for this period were 448.44 million euros, representing a 4.83% growth, while imports increased by 7.63%, reaching 2,679.12 million euros.

The services account which consistently maintains a positive balance, marked a value of 535.50 million euros by the end of June 2024, which is 2.82% higher than the same month last year.

Primary income until the end of June 2024 recorded a positive balance of 73.48 million euros, which in the same period last year had a value of 45.50 million euros, showing an increase of 61.49%..

Secondary income Secondary income remains the main contributor to mitigating the current account deficit with a positive balance of 940.29 million euros as of June 2024.

Remittances are the largest category of secondary income, the amount of which till June 2024 was 630.07 million euros, representing an increase of 2.66 million euros or 0.42% compared to the same period in 2023. According to preliminary estimates, remittances in July 2024 were around 119.68 million euros, totaling 749.75 million euros (preliminary) for the first seven months of 2024. The largest flows in July were through NBFIs (50.23%), commercial banks (18.38%), and other channels (31.38%).

Assets in the financial account as of the end of June 2024 recorded a positive balance of 79.37 million euros. Meanwhile, financial obligations have shown a positive balance of 527.56 million euros.

Direct investments in Kosovo till the end of June 2024 were 408.09 million euros, representing an increase of 8.53% compared to the same period last year, while direct investments outside marked a value at 105.43 million euros.

Reserve assets increased by 128.53 million euros till the end of June 2024, representing a 63.55% growth over the same period the previous year, which was 78.59 million euros. The increase in deposits contributed to the increase in reserve assets, which increased by 207.42 million euros between January and June 2024. Meanwhile, investments in securities fell by 78.88 million euros over this period as certain securities matured.