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Economy of Kosovo

Kosovo is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developed nation, Kosovo is able to provide its citizens with social services like public education, healthcare, and law enforcement. Citizens of developed nations enjoy a high standard of living and longer life expectancies than citizens of developing nations. Each year, Kosovo exports around $0.41 billion and imports roughly $3.4 billion. 30.6% of population in the country are unemployed. The total number of unemployed people in Kosovo is 553,426. In Kosovo, 30% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Kosovo is fairly high, but is not reason for complete concern with regard to investments. Potential financial backers should look at other economic markers, including GDP, urbanization rate, and strength of currency, before making any decisions regarding investments. Government expenditure on education is 4.3% of GDP. The Gini Index of the country is 30. Kosovo is experiencing good equality. The majority of citizens in Kosovo fall within a narrow range of income, although some cases may show significant differences. The Global Peace Index (GPI) for Kosovo is 1.938. Due to strong law enforcement presence and high social responsibility, Kosovo is very safe by international standards.

Currency

The currency of Kosovo is euro. There are several plural forms of the name 'euro'. These are euro, euros. The symbol used for this currency is €, and it is abbreviated as EUR. The euro is divided into Cent; there are 100 in one euro.

Credit rating

The depth of credit information index for Kosovo is 6, which means that information is mostly sufficient and quite detailed; accessibility is not a problem.

Central bank

In Kosovo, the institution that manages the state's currency, money supply, and interest rates is called Central Bank of Kosovo. Locally, the central bank of Kosovo is called Banka Qendrore e Kosovës.

Public debt

Kosovo has a government debt of 32.5% of the country's Gross Domestic Product (GDP), as assessed in 2012.

Tax information

The corporate tax in Kosovo is set at 10%. Personal income tax ranges from 0% to 15%, depending on your specific situation and income level. VAT in Kosovo is 10%.

Finances

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Kosovo is $16920 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Kosovo was last recorded at $9 million. PPP in Kosovo is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Kosovo is 6,837 billion. Based on this statistic, Kosovo is considered to have a medium economy. Countries with medium economies support an average number of industries and opportunities for investment. It should not be too difficult to find worthwhile investment opportunities in medium economies. The Gross Domestic Product (GDP) per capita in Kosovo was last recorded at $4 million. The average citizen in Kosovo has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Kosovo averaged 2.7% in 2014. According to this percentage, Kosovo is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly. To read more about financial information click on finances of Kosovo.

Industry

Major industries in the country are mineral mining, construction materials, base metals, leather, machinery, appliances, foodstuffs and beverages, textiles. The total labor force of Kosovo is 1,202,489 people, wherein 30.6% of population in the country are unemployed. The total number of unemployed people in Kosovo is 553,426. The Industrial Production growth rate of Kosovo is 2.22%.To read more about industrial information within Kosovo click on industry of Kosovo.

Agriculture

To read more about agriculture click on agriculture of Kosovo.