Kuwait posts KD 4.7 billion trade surplus in first four months of 2024

• From January to April, Kuwait’s trade exchange totaled KD 12.13 billion. In April 2024, it reached KD 3.22 billion, a 5.2% increase from KD 3.06 billion in April 2023.

The latest data from the Central Statistical Administration revealed that Kuwait recorded a trade surplus of KD 4.7 billion in the first four months of this year, a slight decrease of 3.4% (KD 167.4 million) compared to a surplus of KD 4.87 billion during the same period in 2023. The surplus included KD 1.5 billion achieved in April, marking a 21.9% increase (KD 270 million) compared to a surplus of KD 1.23 billion in April 2023, according to Al Anba newspaper.

According to data reviewed by Al-Anba newspaper, the volume of trade exchange in Kuwait from January to the end of April amounted to approximately KD 12.13 billion, reflecting a 4% decrease of KD 504.9 million compared to KD 12.63 billion during the same period in 2023. In April 2024, the trade exchange volume reached about KD 3.22 billion, marking a 5.2% increase of KD 159 million compared to KD 3.06 billion in April 2023.

Kuwait imported goods worth KD 3.7 billion in first four months of this year

Kuwait imported goods worth about KD 3.7 billion during the first four months of this year, a 4.3% decrease of KD 168.75 million compared to KD 3.88 billion for the same period in 2023. In April alone, imports totaled approximately KD 860.87 million, a 6.1% decrease of KD 55.52 million compared to KD 916.4 million in April 2023.

In April 2024, the value of imported cars was around KD 125.06 million, down from KD 174.96 million in April 2023. Imports of pearls, precious stones, and metals amounted to about KD 60.15 million in April 2024, up from KD 41.8 million in the same month of 2023.

Kuwait imported medicines worth approximately KD 52.23 million in April 2024, compared to KD 49.85 million in April 2023.

In April 2024, Kuwait imported perfumes, cosmetics, and beauty products worth around KD 14.7 million, compared to KD 23.53 million in April 2023.

The top five countries from which Kuwait imported goods in April 2024 are as follows:

1. People’s Republic of China: Kuwait imported goods worth approximately KD 155.7 million, accounting for 18.1% of total commodity imports.
2. United Arab Emirates: Kuwait imported goods worth about KD 116.9 million, representing 13.6% of total commodity imports.
3. United States: Kuwait imported goods worth KD 79.17 million, making up 9.2% of total imports.
4. India: Kuwait’s commodity imports from India amounted to approximately KD 51.34 million, representing 6% of total imports.
5. Saudi Arabia: Kuwait imported goods worth about KD 46.11 million, accounting for 5.4% of total imports.

Value of Kuwait’s exports

The value of Kuwait’s exports during the first four months of 2024 amounted to approximately KD 8.4 billion, a decrease of 3.8%, or KD 336.22 million, compared to KD 8.75 billion in the same period of 2023. However, Kuwait’s exports increased by 10% in April 2024, reaching KD 2.36 billion, up from KD 2.15 billion in April 2023.

Kuwait’s exports of oil and its derivatives during the first four months of 2024 totaled about KD 7.75 billion, compared to KD 8.15 billion in the same period of 2023.

In April 2024, Kuwait exported mineral fuels, mineral oils, and their distillation products worth approximately KD 2.19 billion, up from KD 2.02 billion in April 2023. Chemical products exported in April 2024 were valued at KD 40 million, compared to KD 30.6 million in April 2023. Exports of pearls, precious stones, and precious metals were valued at KD 11.34 million in April 2024, slightly down from KD 11.6 million in April 2023.