Page 101 - SE Outlook Regions 2024

5.5.4 Major Sectors & Companies
Kosovo has a variety of industry sectors, with the most advanced ones
being ferrous and non-ferrous metallurgy and mining.
Trepca is Europe's largest lead-zinc and silver ore mine. As a result of the closure of numerous mines and factories in the late 1980s and 1990s, the Trepca mining complex in Kosovo has significantly reduced to just a few local mines and processing plants.
According to Trepca geologist Fidaim Sahiti, the main mine’s reserves amount to approximately 58mn tonnes of lead and zinc and other valuable minerals, bne IntelliNews reported in October 2023. Today, the production capacity is just a fraction of the 22,000 people employed during the Yugoslav era, or around only 1,500 workers.
The authorities announced in August 2023, that the Ministry of Economy will provide subsidies to support operations of the state-run mining complex Trepca. Trepca is set to receive €1.13mn as part of a larger allocation of €3mn in subsidies earmarked by the Ministry of Economy for the company's investments and recovery efforts in 2023.
Simultaneously, Kosovo’s government is extending a loan of €20mn to Trepca that will be directed towards acquiring modern machinery and ensuring operational stability, both of which are expected to result in heightened production and enhanced efficiency across the mines.
The role of ICT exports is steadily growing as a significant contributor to Kosovo's economy. According to the recent Kosovo IT Barometer released by the Kosovo Association of Information and Communication Technology (STIKK), 85% of companies within the sector are engaged in exporting services and/or products. Notably, 39% of these companies have a primary focus on international markets.
5.6 Real economy - North Macedonia
5.6.1 Retail
North Macedonia’s retail sales fell by a real 3.9% y/y in October, after dropping by 1.8% y/y a month before, according to statistics office's data. In nominal terms, the retail sales (except motor vehicles and motorcycles) were down by 2.9% y/y. The average annual inflation in October slows to 3.5%.
Analysing the data further, retail trade in food, beverages and tobacco increased by a real 4.3% y/y in the tenth month of the year, and rose by a nominal 7%.
101 SE Outlook 2024 www.intellinews.com