Annual Report 2010 03 August 2011 - Banka Qendrore e ...

Annual Report 2010
CBK
The distribution of Kosovo’s exports among CEFTA member countries in 2010 was similar
to the previous year, while the share of exports to CEFTA countries in the overall amount
of Kosovo’s exports decreased 24.1
percent in 2010 from 32.4 percent
in 2009. Among the regional
countries, the largest share of
Kosovo’s products continues to be
exported in Albania and
Macedonia (11.0 and 8.9 percent of
total exports, respectively). It is
worthy to mention that despite
obstructions imposed by Serbia
and Bosnia and Herzegovina,
exports to these two countries
marked a slight increase in 2010.
During this year, exports to Bosnia
Figure 36. Structure of imports by trading partners, in
percentage
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
Source: CBK 2011
26.9% 26.4% 25.2% 24.5%
36.8% 37.2% 35.8% 37.2%
36.3% 36.4% 39.0% 38.3%
2007 2008 2009 2010
EU CEFTA Other
and Herzegovina reached at euro 1.9 million (euro 1.2 million in 2009), whereas exports to
Serbia reached at euro 3.8 million (euro 3.5 million in 2009).
EU and CEFTA countries represent the main trading partners for Kosovo also in terms of
imports. Until December 2010, around 38.3 percent of total goods imported by Kosovo came
from the EU member states (Figure 36). The largest share of imports comes from Germany
(12.8 percent of total imports) and Greece (4.7 percent of total imports). Among the CEFTA
countries, most of the imported goods come from Macedonia and Serbia, with a share of
14.7 and 12.1 percent in total imports, respectively.
The account of trade in services Figure 37. Services account, in millions of euro
had a positive in 2010, but
150
differently from the previous years,
120.8
106.4 117.6
the balance of this account 100
79.7
recorded a significant decline. In
58.3
56.4
51.4
50 37.1
2010, the balance of trade in
10.7
services amounted at euro 37.1 0
million, compared to euro 120.8
-48.3
million in the previous year
-50
-61.7 -64.0
(Figure 37). The decrease in the
balance of services in this period
-100
Services account balance Travel services Construction services
mainly reflects the slower growth
2009 2010
of income from the sale of services Source: CBK (2011)
to nonresidents, compared to the
growth of payments for services purchased by Kosovo residents. In 2010, the services
account generated income amounting at euro 515.0 million, with an annual growth of 20.1
percent. At the same time, the total payments for services purchased abroad by Kosovo
residents reached at euro 477.9 million, which represents an annual growth of 55.2 percent.
The increase of payments for construction services, namely the construction services for the
first segment of Morinë-Merdarë highway, were the main driver of the significant decrease
of the services balance in this period. The income from construction services reached at
euro 52.0 million in 2010 (euro 15.7 million in 2009), whereas the payments for construction
services reached at euro 100.3 million (euro 5.0 million in 2009).
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