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The total value of locally produced goods exported to global markets reached KD 21.7 million in June, marking a decrease from the KD 23.8 million recorded in May.
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Europe witnessed a decline in Kuwaiti exports, with eleven certificates issued in June compared to 13 in May. The African and American markets also experienced a downturn in Kuwaiti export activity.
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The number of certificates of origin issued for exports to Arab and Islamic countries in June dropped to 403, representing a total value of KD 9.3 million.
Kuwait’s non-oil exports saw a minor decline in June, as reported by the Ministry of Commerce and Industry, according to Al Anba newspaper.
The total value of locally produced goods exported to global markets reached KD 21.7 million during the month, marking a decrease from the KD 23.8 million recorded in May.
GCC Kuwait’s primary market for non-oil exports
Saleh Al-Azmi, Undersecretary for International Organizations and Foreign Trade Affairs, provided further details on the export performance. He revealed that the Gulf Cooperation Council (GCC) countries remained Kuwait’s primary market for non-oil exports in June, Al Anba newspaper reported.
The number of certificates of origin issued for Kuwaiti exports to GCC countries totaled 1,495, with a combined export value of KD 11.68 million.
While these figures represent a slight decrease compared to the previous month’s export value, the GCC region continues to be a significant contributor to Kuwait’s non-oil export revenue.
Exports to other regions decline
However, export performance to other regions showed a more pronounced decline. The number of certificates of origin issued for exports to Arab and Islamic countries in June dropped to 403, representing a total value of KD 9.3 million. This marks a decrease from the 308 certificates and KD 7.5 million recorded in May.
Europe also witnessed a decline in Kuwaiti exports, with eleven certificates issued in June compared to 13 in May.
The African and American markets also experienced a downturn in Kuwaiti export activity. In June, four certificates were issued to African countries, valued at KD 115,000, compared to seven certificates in May.
Similarly, exports to the US decreased from six certificates in May to five certificates valued at KD 77,000 in June
Asian market drags down Kuwait’s non-oil exports
The Asian market also contributed to the overall decline in non-oil exports, with only two certificates of origin issued for exports to Asian countries in June. This represented a significant decrease from the three certificates and KD 11,647 recorded in May.
