Eurasia Press & News
Kosovo’s exports have almost halved in February 2009 compared to the same period last year.
Figures from Kosovo’s statistical institution reveal a drop of 45 per cent in exports and a worsening trade balance.
The country’s exports during February 2009 were worth €7.7 million, down from €14.1 million 12 months ago. Metals and mineral products suffered the greatest fall.
Imports last month were valued at €126.2 million, giving a negative balance of €118 million.
Kosovo was predicted by some to be cushioned from the global financial crisis because of its introverted financial and banking system. But the new state is beginning to feel the pinch after the financial crisis dragged many of the world’s biggest economies into recession.
Kosovo’s economic well-being is boosted by remittances from its diaspora living in western Europe. Economists believe the repercussions of the global financial crisis are to be felt further with the yearly return of Kosovo emigrants for the summer.
