Kosovo economy contracts at record pace in Q2
Kosovoʼs gross domestic product (GDP) shrank by 9.3% year-on-year in the second quarter of 2020, after a 1.3% growth in the previous period, data from the Kosovo Agency of Statistics (KAS).
It was the first GDP contraction since the second quarter of 2014 and the steepest on record due to the coronavirus pandemic.
Gross capital formation slumped 41.1% and net trade contributed negatively to the countryʼs economy, as exports tumbled 43.8% while imports fell at a softer 19.8%.
Also, household consumption slowed, while government expenditure rebounded.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.