About Kosovo

GEOGRAPHY

Land area: 10.908 km²
 
Terrain: Low flood plains throughout central Kosovo, surrounded by mountains to the north, west and south.
 
Land Use: 52% agriculture, 39% forests
 
Largest City: Prishtina - est. pop. 500,000

 

POPULATION

Population Description:

1.8 million people composed of about 90% Albanian, 5%Serbs, 2% Muslim Slavs (Bosniaks, Gorani), 2% Roma and 1% Turks Distribution: 42% urban, 58% rural

Diaspora:

app. 500.000 people living abroad.

Languages:

Albanian, Serbian, English

ECONOMIC DESCRIPTION

Currency:

EURO

GDP:
€5.02 bilion (2012)
 
GDP per capita: €2.750 (2012)
 
Inflation:

2012 close to 2.5 percent.

Financial Sector:

Two tier Banking System consisting of Central Banking Authority of Kosovo and 10 private Banks, 10 Insurance companies and 1 mandatory pension scheme

Enterprises:

114.131 SME in 2012, app. 50% of total SME engaged in trade industry. 600 Socially Owned Enterprises of which 300 already privatized

Budget:

In 2012 totalling est. 1.5 billion euro.

Tariff duties:

Customs duties: 10% on imports; Excise tax on fuel, tobacco alcohol and luxury goods. No duties and taxes on exports.

Taxes in place:

VAT 16%, Corporate Profit TAX 10 %, Wage Tax progressive max. 10%

Free trade:
Customs-free access to the EU market based on the EU Autonomous Trade Preference (ATP) Regime, Central Europian Free Trade Area – CEFTA
 
Location factors:

Cheap and well educated workforce, enviable natural resources (mining, agriculture), low and transparent tax system, high purchase power through remittances (app. 340 million annually), customs free access to the EU market and CEFTA members market

GOVERNMENT

Kosovo assembly:

120 seats, of which 20 set aside for minorities