Balance of Payments statistics for the month of June 2023 are published

According to the publication calendar, the CBK published the Balance of Payments (BP) statistics for the month of June 2023 (https://bqk-kos.org/statistikat/serite-kohore),

The balance of payments until the end of June 2023 was characterized by a current account deficit, which marked a value of 502.7 million euros, which compared to the same period last year is lower by 19% (623.7 million euros was the deficit until in June 2022).

The trade balance in goods within BP, until June 2023, had a deficit in the amount of 2.1 billion euros, which is the largest trade deficit compared to the same period of the previous year.

Services until June 2023 have recorded a positive balance in the amount of 553.2 million euros, which represents an increase of 36% compared to the same period of 2022 (407.8 million euros). The main category of services are travel services. Only during the month of June in Kosovo, travel services reached the value of 141.3 million euros, last year in this period they were 132.3 (7% lower than this year). About 90% of travel expenses in Kosovo, namely 126.6 million euros, are diaspora expenses. Compared to the same period last year, the diaspora spent about 15% more this year.

Meanwhile, the travel expenses of Kosovars abroad, during the month of June, reached the value of 58.9 million euros, which represents an increase of 18% compared to the same period of 2022, of which about 46% are expenses in Albania.

Primary income until June 2023 recorded a positive balance of 45.9 million euros, which compared to the same period last year, is lower by about 48% (88.1 million euros was until June 2022).

The secondary income account, which includes Current Transfers to the government sector and Current Transfers of other sectors (immigrants’ remittances and transfers including donations, pensions, etc.) remains the main contributor to mitigating the current account deficit. Until June 2023, this account increased by 12% compared to the same period of 2022, and reached the value of 949.1 million euros (849.6 million euros was the positive balance until June 2022).

Remittances are the main category within secondary income, whose value until June 2023 was 635.1 million euros, which represents an increase of 14% compared to the same period last year (555.4 million euros was until June 2022).

The assets in the financial account until June 2023 were 274.8 million euros, while the financial liabilities marked the value of 517.3 million euros, for the same period.

The balance of direct investments in Kosovo until June 2023 marked a result of 271.9 million euros, which shows that the value of DI in Kosovo (374.2 million euros) is higher than the DI invested by Kosovars abroad (101.9 million euros). Direct investments reached the value of 374.2 million euros, which represents an increase of 14% compared to the same period last year (327.3 million euros until June 2022).

The balance of investments in securities, without including securities within reserve assets, until June 2023 have increased by 86.7 million euros.

Other investments (investments in deposits, loans and commercial loans) until June 2023 have recorded a negative value (135.9) million euros, which is mainly attributed to the increase in external debt in Kosovo. (value of 285.4 million euros until June 2022).

Reserve assets until June 2023 have increased by 78.6 million euros, while in the same period of the previous year the increase was by 171.8 million euros.