European markets dominate Kuwait’s non-oil trade as Q1 2026 exports slump to 558m dinars
Kuwait’s non-oil exports fall 39% amid regional market turbulence triggered by Iran war; geopolitical tensions weigh on Kuwait’s export sector; Gulf and European markets capture 90% of trade
Kuwait’s non-oil exports of national origin recorded a sharp decline during the first quarter of 2026, reflecting the economic impact of the ongoing Iranian war and the resulting disruptions across regional and global markets.
According to data issued by the Ministry of Commerce and Industry, exports fell by 39.2 percent year-on-year to 558.7 million dinars, compared with 919.5 million dinars during the same period in 2025.
The figures also revealed a monthly decline in export performance during March, with non-oil exports dropping by 11.5 percent, equivalent to 22.27 million dinars, to reach 171.92 million dinars compared to 194.2 million dinars in February.
European countries emerged as the largest destination for Kuwaiti exports in March, receiving shipments valued at 117.917 million dinars. Gulf Cooperation Council markets followed with exports totaling 46.759 million dinars.
Meanwhile, exports to Arab and Islamic countries declined significantly to 7.192 million dinars from 16.846 million dinars in February, while exports to African countries disappeared entirely during March after recording only 61 thousand dinars in the previous month.
On a broader quarterly basis, exports to European markets accounted for the largest share of Kuwait’s non-oil trade during the first three months of 2026. Exports to Europe totaled 291.845 million dinars, representing approximately 52.2 percent of total non-oil exports.
Gulf countries ranked second with exports valued at 211.361 million dinars, accounting for nearly 37.8 percent of the total. Combined, the Gulf and European markets absorbed more than 90 percent of Kuwait’s non-oil exports during the quarter, underscoring their strategic importance to Kuwait’s trade sector.
Arab and Islamic countries came third with exports worth 34.467 million dinars, representing 6.2 percent of the total, while African markets accounted for 20.699 million dinars, or 3.7 percent.
Exports to the Americas remained limited at around 359,000 dinars, while exports to Asia and Australia were marginal, totaling just 27,000 dinars.
In terms of monthly performance, February recorded the highest export value during the quarter at 194.207 million dinars, followed closely by January at 192.622 million dinars, while March registered 171.929 million dinars, indicating relatively stable but weakening export activity throughout the quarter.
