The spokesman for the Trade Development Committee of Iran’s Council of Industries, Mines, and Trade announced a 34% increase in Iran’s non-oil exports to Kuwait during the first ten months of the current Iranian year (March 20, 2024 – January 19, 2025) compared to the same period in the previous year.
Ruhollah Latifi stated that Iran’s non-oil exports to Kuwait reached $192.61 million during the ten-month period.
In September, the head of the Iranian-Kuwaiti Chamber of Commerce criticized the decline in trade relations between the two countries and urged efforts to boost trade exchange.
Ebrahim Gholamzadeh estimated Kuwait’s total imports at around $52 billion, based on the latest statistics. He emphasized that despite Iran’s geographical advantage as a neighbor, its share remains minimal and should be expanded.
At a press conference in Tehran, Gholamzadeh invited Kuwaiti businessmen and investors to explore Iran’s vast potential and promising opportunities. He emphasized Iran’s readiness to welcome foreign investors, particularly from Kuwait, across various sectors, including industry, agriculture, services, and tourism.
The official highlighted that Iran’s agricultural and industrial potential could play a significant role in enhancing Kuwait’s food security.
Gholamzadeh estimated Iran’s exports to Kuwait at $198 million in the previous Iranian year (ending March 19, 2024), while Kuwait’s exports to Iran totaled $12 million during the same period.
Iran’s main exports to Kuwait included food products, construction materials, and metals, while industrial machinery and equipment accounted for the largest share of Iran’s imports from Kuwait.
Source: Al Qabas
