Good news on the economic front in Kosovo. Kosovo only produces twenty percent of the food it consumes and produces very little in the way of durable goods or consumer items. But the trade deficit fell for the first quarter of 2006 by 5.17 percent. That is, exports rose and imports fell. I’m not really an economist, but increased exports sounds good to me.
Here are some highlights:
· Kosovo's main exports were the raw materials, or 54.8% of all exports. Leather and leather products made 16.2% of all exports and food and beverages contributed 11.5% of the total.
· Kosovo imported mainly raw materials - 19.0% of all imports - followed by food, beverages and tobacco with 13.2%. Machines and electrical appliances made 12.0% of all imports.
· Italy and Macedonia were Kosovo's main exports destinations in the first quarter of 2006. Exports to Italy totalled 1.09 million euro, or 15.2% of all exports. Exports to Macedonia were 1.04 million euro, or 14.6% of the total.
· Macedonia remained Kosovo's main trading partner in terms of imports, followed by Serbia and Montenegro. Even though Kosovo remains part of the loose union of Serbia and Montenegro, which succeeded rump Yugoslavia in 2003, the province operates customs offices at its borders with the rest of Serbia and Montenegro.
· Imports from Macedonia through March were 28.5% of Kosovo's imports and imports from Serbia and Montenegro contributed 19.5% of the total.