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Economy of Kosovo

The economy of Kosovo is a transition economy. Kosovo was the poorest province of the former Yugoslavia with a modern economy only established after a series of federal development subsidies in 1960s and 1970s. During the 1990s abolition of province's autonomous institutions followed by poor economic policies, international sanctions, little access to external trade and finance, and ethnic conflict severely damaged the already-weak economy. Since the declaration of independence in 2008 Kosovo's economy has grown each year, with relatively low effects from the global financial crisis; while there are many weaknesses for its potential in the future, many of them related to its internationally disputed status, there are also potential strengths, including its very low level of government debt and future liabilities and the strength of its banking system (despite remaining obstacles to using this for productive loans). Kosovo remains one of the poorest areas of Europe, with as much as 45% of the population living below the official poverty line, and 17% being extremely poor according to the World Bank.

Transportation

Road network

Construction of a highway to the Macedonian border is now planned.

Kosovo Railways

Combined length of 330 km. It covers the entire territory, connecting both the south with the north and east with west. However, there is currently no functioning interconnection with the Serbian rail network, although there is interconnection with the Macedonian network.

Air transportation

Pristina International Airport Adem Jashari is, with over one million passengers per year, one of the most frequented airports of the region, despite the fact that Serbia does not permit overflying of its territory by aeroplanes flying to or from Kosovo.

Energy in Kosovo

Kosovo Energy Corporation (KEK) is currently the sole power corporation in the Republic of Kosovo. In Yugoslav times, Kosovo was a net exporter of electricity. But its current generating capacity has been affected by many factors.

Natural resources

Kosovo is rich in natural resources, and has been an important mining centre for much of its history. In Kosovo there is substantially high reserves of lead, zinc, silver, nickel, cobalt, copper, iron and bauxite.

Mineral deposits

Lignite

Lignite is of outstanding importance in Kosovo. It contributes 97% of the total electricity generation, with just 3% being based on hydropower.

Lead zinc-silver

In what today is Kosovo, base-metal mining has been a mainstay of the economy, since pre-Roman times. Illyrians, Romans, Byzantines, Saxons, Turks, French and Britons have all conducted extensive mining in the region.

Nickel

Former open-pit mining operations based on laterite were undertaken at Çikatova (Dushkaja and Suke) and Gllavica. Remaining mineable reserves have been calculated as 13.2 Mt averaging 1.42% Ni and 0.05% Co.

Chromium

A chain of Alpine-type chromite pods in southwestern Kosovo are part of a series of linear deposits that continue into Albani.

Bauxite

Kosovo's bauxite deposits are hosted in karst limestone and have been exploited in a series of pits that comprise the Grebnik mine. The host limestone was worked as a construction material and a sizeable stockpile of broken limestone remains on.

Kosovo is rich in high quality construction minerals, such as andesite, basalt, diabas, gabbro, granite, lime stone and marble.

Wine

Wine has always historically produced in Kosovo, both red and white. he main heartland of Kosovo's wine industry is in Orahovac (Rahoveci) where millions of litres of wine is produced. The main wines produced in Kosovo include Pinot noir, Merlot and Chardonnay. Kosovo has recently been exporting wines to Germany and the United States.

Trade

Kosovo is a small open economy and mainly imports more goods and services than it exports. It is committed to trade liberalization. Participation in regional and wider trade facilitating mechanisms has been one of the main policy objectives of Kosovo institutions. Enhancing trade in Kosovo through liberalized trade requires three aspects to be in place, import rationalization and replacement, trade facilitation and export promotion.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Economy Of Kosovo"

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