Balance of Payments statistics for May 2024 are published

In line with the publication calendar, the CBK has published the Balance of Payments (BP) statistics for the month of May 2024

https://bqk-kos.org/statistikat/serite-kohore

The balance of payments until the end of May 2024 was characterized by a current account deficit in the amount of EUR 556.39 million, which shows an increase of EUR 101.88 million compared to the same period last year.

The trade balance in goods until the end of May 2024 marked a deficit in the amount of EUR 1,833.93 million, which is 8.04% higher compared to the same period of the previous year. The export for this period marked a value of EUR 373.86 million, representing an increase of 4.14%, while the import of goods marked an increase of 7.36%, thus reaching a value of EUR 2,207.79 million.

The account of services, which constantly has a positive balance, until the end of May 2024 marked a value of EUR 439.60 million, which is 0.33% higher compared to the same period last year.

Primary income until the end of May 2024 recorded a positive balance of EUR 65.79 million, which in the same period last year had a value of EUR 32.21 million, marking an increase of 104.28%.

Secondary income remains the main contributor to mitigating the current account deficit. Until May 2024, this account recorded a positive balance of EUR 772.16 million, representing almost the same value compared to the same period last year.

Remittances represent the main category within secondary income, the value of which until May 2024 was EUR 512.96 million, representing an increase of EUR 9.56 million or 1.90% compared to the same period of 2023. While, according to preliminary estimates, remittances for the month June 2024 were about EUR 119.71 million, thus reaching the value for the first half of 2024 at EUR 632.67 million (preliminary). The largest flows also during the month of June were through NBFIs 60.14%, through commercial banks 15.50% and other channels 24.36%.

Assets in the financial account until the end of May 2024 recorded a negative balance of EUR 21.47 million euro. Meanwhile, financial obligations have recorded a positive balance in the amount of EUR 352.01 million.

Direct investments in Kosovo until the end of May 2024 were EUR 341.22 million, representing an increase of 10.00% compared to the same period of last year, while direct investments outside Kosovo marked a value of EUR 84.14 million.

Reserve assets until the end of May 2024 increased by EUR 99.31 million, marking an increase of 52.70% compared to the same period of the previous year. The increase in reserve assets has contributed to the increase in deposits, which increased by EUR 192.29 million during the period January-May 2024. Meanwhile, investments in securities during this period decreased by EUR 92.98 million due to the maturity of some of the securities.