Kosovo GDP Annual Growth Rate

Last Release

Dec 31, 2022

Actual

3.55

Units In

2.07

Frequency

Quarterly

Next Release

Jun 13, 2025

Time to Release

2 Months 27 Days 8 Hours

Highest	Lowest	Average	Date Range	Source
16.28 Jun 2021	-9.07 Jun 2020	3.72 %	2006-2022	Kosovo Agency of Statistics

The private sector consumption and investments are the most important factors behind economic growth in Kosovo. The country is plagued by a high rate of unemployment, it’s assumed that the shadow economy employs most of the registered unemployed. On the expenditure side, household consumption is the main component of GDP and accounts for 88 percent of its total use, followed by gross capital formation (26 percent) and government expenditure (17 percent). Exports of goods and services account for 20 percent of GDP while imports account for 51 percent, subtracting 31 percent of total GDP. Kosovo is one of the few counties outside the EU that has introduced the Euro as its official currency.

Latest Updates

Kosovo's economy expanded by 4.08% year-on-year in the fourth quarter of 2024, slightly up from the 4.05% growth recorded in the previous quarter. Household consumption rose by 4.21%, while gross capital formation saw a robust 9.03% increase. Net external demand contributed positively to GDP, with exports surging by 11.13%, outpacing the 8.55% rise in imports. In contrast, government spending declined by 1.76%. For the full year 2024, the economy expanded by 4.41%.