Kuwait’s trade surplus dips 10% due to oil price decline

This represents a decrease of 241 million dinars year-on-year due to Kuwait’s compliance with oil production cuts imposed by the OPEC+ alliance. On the other hand, non-oil exports witnessed an increase of 20.4%, reaching a total of about 106 million dinars, compared to 88.4 million dinars in the same period last year. Non-oil exports included a variety of products such as organic chemicals, iron and steel products, machinery, essential oils, and dairy products.

In terms of import destinations for Kuwaiti goods, excluding oil, the UAE ranked first with total imports amounting to about 40 million dinars, followed by Iraq with 34.3 million dinars, and the Kingdom of Saudi Arabia with 22 million dinars. Kuwait’s imports in January were distributed among various categories, with food and beverages accounting for 15.5% of total imports, with a value of 145.5 million dinars. It was followed by industrial supplies and transportation equipment, with the value of imports amounting to about 228.5 million dinars and 148 million dinars, respectively. China emerged as the main source of Kuwait’s imports, accounting for 21.6% of total imports with a value of 203 million dinars. The UAE and the United States came in second place with exports worth 118.3 million dinars and 77 million dinars, respectively.

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