Kuwait Trade Surplus at 11-Year Low
Kuwait Trade Surplus at 11-Year Low

Kuwait Trade Surplus at 11-Year Low

Kuwait Trade Surplus at 11-Year Low

Kuwait’s trade surplus retreated to an 11-year low of KD4.7 billion ($15.5 billion) in 2016 or 14% of GDP, as oil export earnings remained weak against a backdrop of limited import growth, Albawaba reported. Oil export revenues continued to be weighed down by lower oil prices, though they are expected to pick up in 2017 amid a sustained recovery in prices. Meanwhile, imports were flat in 2016, with the weakness mainly stemming from the continued contraction in consumer goods imports. By contrast, growth in imports of capital goods remained healthy, reflecting the strong momentum seen in capital spending and investment. Oil export receipts declined by 14.1% in 2016 to KD12.5 billion ($41 billion), its lowest level in just over a decade. Oil export revenues remained in decline amid a depressed global oil price environment in 2016. The Kuwait export crude price was down 18% during the year after logging in an annual average of $39 per barrel.


Short URL : https://goo.gl/wDCXKe
  1. https://goo.gl/Xz69Tq
  • https://goo.gl/yrkElB
  • https://goo.gl/7qsR0n
  • https://goo.gl/HJSAjk
  • https://goo.gl/16vvQl

You can also read ...

Philippines May Suspend Excise Taxes on Petroleum Products
The Philippine government will suspend the collection of...
Jordan Approves New IMF-Guided Tax Law
Jordan’s cabinet on Monday approved major IMF-guided proposals...
At present, the majority of investments are still being done in oil-gas and traditional industries while there is still almost no SME sector in the country.
While Saudi Arabia’s latest budget figures show progress in...
US, China are nearing a deal to remove American sales ban against ZTE.
US President Donald Trump retreated from imposing tariffs on...
Dubai Bank to Buy Turkey’s Denizbank for $3.2 Billion
Dubai’s biggest lender the National Bank of Dubai has agreed...
IHS Markit to  Buy Rival Ipreo  for $1.8 Billion
Data firm IHS Markit Ltd. said it will buy smaller rival Ipreo...
SBI Reports Record $1.1b Loss
State Bank of India reported a loss of Rs. 7,718 crore ($1.1...
EU, Mercosur Discuss Trade Deal
The European Union and South America’s Mercosur bloc could...

Add new comment

Read our comment policy before posting your viewpoints