Balance of payments statistics for March 2024 are published

05/06/2024

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

The balance of payments in the first quarter of 2024 was characterized by a current account deficit in the amount of 295.81 million euros, showing an increase of 68.61 million euros compared to the same period last year, mainly influenced by the increase in the import of goods and mitigated by secondary account growth.

The trade balance in goods for the first three months of 2024 marked a deficit of 1,050.67 million euros, which is 11.53% higher compared to the same period of the previous year. The export for this period marked the value of 212.31 million euros, presenting an annual decrease of 2.09%, while the import of goods marked the value of 1,262.98 million euros, presenting an annual increase of 8.98%.

The services account, which constantly has a positive balance, marked the value of 261.89 million euros in the first quarter of 2024, which is 1.10% higher compared to the same period last year.

The primary income in the period January-March 2024 recorded a positive balance of 56.32 million euros, compared to the value of 7.54 million euros in the same period last year. The growth of this category was influenced almost equally by the increase in employee compensation and investment income.

Secondary income remains the main contributor to mitigating the current account deficit. Until March 2024, this account recorded a positive balance of 436.65 million euros, representing a decrease of 2.60% compared to the same period last year.

Remittances are the main category within secondary income, the value of which for the first three months of 2024 was 281.02 million euros, representing an increase of 9.76 million euros or 3.60% compared to the same period of 2023.

Assets in the financial account in the first quarter of this year recorded a negative balance of 32.74 million euros. Meanwhile, financial obligations have recorded a positive balance in the amount of 171.16 million euros.

Direct investments in Kosovo until the end of March 2024 were 185.39 million euros, which is almost the same value as in the previous year (189.58 million euros in Q1 2023), while direct investments outside Kosovo marked the value of 39.71 million euros (49.14 million euros in Q1 2023).

Reserve assets until March 2024 have reached the total value of 1,162.0 billion euros. The value of reserve assets in the first quarter of 2024 has recorded a decrease of 18.70 million euros, mainly influenced by the maturity of securities.