Balance of payments statistics for November 2023 are published

01/02/2024

According to the publication calendar, the CBK published the balance of payments (BoP) statistics for the month of November 2023. (https://bqk-kos.org/statistikat/serite-kohore/).

The balance of payments until the end of November 2023 was characterized by a current account deficit in the amount of EUR 703.1 million, which shows an improvement of 13.4% compared to the same period last year (EUR 812.0 million was the deficit until November 2022). In the reduction of the current account deficit during this period, the account of services and secondary income have had a positive impact.

The trade balance in goods until November 2023 had a deficit of EUR 4.16 billion, which is 7.5% higher compared to the same period of the previous year. Export for this period decreased by 6.3% and reached the value of EUR 804 million (EUR 858.2 million until November 2022). Meanwhile, the import of goods recorded an increase of 5% reaching the value of EUR 4,968.9 million (EUR 4,734.3 million until November 2022).

The services account, which constantly has a positive balance, until November 2023 reached the value of EUR 1,525.6 million, which is 20.1% higher compared to the same period of 2022.

Primary income until November 2023 recorded a positive balance of EUR 133.2 million, which in the same period last year had the value of EUR 90.8 million. This represents a marked increase or about 46.7% compared to the same period last year.

Secondary income remains the main contributor to mitigating the current account deficit. Until November 2023, this account recorded an increase of 5.9% compared to the same period of 2022, reaching the value of EUR 1,803.1 million (EUR 1,703.2 million until November 2022).

Remittances are the main category within secondary income, the value of which until November 2023 was EUR 1,215.5 million, which represents an increase of EUR 110.8 million or 10% compared to the same period of the previous year.

Assets in the financial account until November 2023 were EUR 760.3 million. Meanwhile, financial liabilities have recorded the value of EUR 1,090.6 million, resulting in a negative balance of EUR 330.3 million.

Direct investments in Kosovo until the end of November 2023 were EUR 761.1 million (EUR 682.8 million until November 2022), while direct investments outside Kosovo were worth EUR 183.1 million (EUR 159.5 million until November 2022).

Investments in securities abroad, without including securities within reserve assets, until November 2023 have increased by EUR 418.8 million.

Other investments in Kosovo (investments in deposits, loans and commercial loans) until the end of November 2023 were 329.5 million euros (318.1 million until November 2022), while other investments outside Kosovo until the end of November 2023 were EUR 5.2 million (EUR 79.4 million until November 2022). As a result of the change in this position, the balance of other investments until the end of November 2023 recorded a negative value of EUR 324.3 million.

Reserve assets until November 2023 have increased by EUR 313 million, while in the same period of the previous year the increase was EUR 238.8 million.