Kuwait’s auto market sees KD 1.333 billion in imports in 2024
Car imports were highest in the fourth quarter of 2024 at KD 403.39 million, followed by third quarter at KD 315.4 million, second quarter at KD 309.7 million, and te first quarter at KD 304.8 million.
• Kuwait imported automatic or electrical signaling devices for transportation roads at KD 2 million in 2024. The country also imported aircraft and their parts worth KD 201.44 million.
• Kuwait imported KD 1.93 billion in transportation equipment, KD 1.95 billion in electrical appliances, KD 712.7 million in gold and precious metals, and KD 12 million in ships and boats. Additionally, imports of art and antiquities saw a 250% surge.
• The value of imported phones, including those used on cellular networks and other wireless networks, increased by 9.22 percent in 2024 to KD 470.44 million, up from KD 430.7 million in 2023.
Kuwait’s passenger vehicle imports fell by 7.7 percent, or KD 110.9 million, to KD 1.333 billion in 2024, down from KD 1.44 billion in 2023, Al Rai newspaper reported, citing official data.
The Central Statistical Administration noted that car imports were highest in the fourth quarter at KD 403.39 million, followed by the third quarter at KD 315.4 million, the second quarter at KD 309.7 million, and the first quarter at KD 304.8 million.
In contrast, Kuwait imported automatic or electrical signaling devices for transportation roads at KD 2 million in 2024, down from KD 2.109 million the previous year. The country also imported aircraft and their parts worth KD 201.44 million, marking a 792 percent increase from KD 22.56 million in 2023.
On the other hand, ship and boat imports declined by 1.3 percent to KD 12 million in 2024, compared to KD 12.16 million in the previous year. Ship imports totaled approximately KD 3.73 million in the first quarter before decreasing to KD 3.5 million in the second quarter. They then rose to KD 3.97 million in the third quarter before dropping to KD 814,000 in the last quarter. As a result, total transport equipment imports in 2024 reached approximately KD 1.93 billion, reflecting a 3.5 percent growth, or KD 64.6 million, compared to KD 1.865 billion in 2023.
Imported phones
According to the data, the value of imported phones, including those used on cellular networks and other wireless networks, increased by 9.22 percent in 2024 to KD 470.44 million, up from KD 430.7 million in 2023.
The value peaked at KD 154.1 million in the first quarter but dropped to KD 86.5 million in the second quarter. It then rebounded to KD 116.01 million in the third quarter before declining to KD 113.79 million in the last quarter.
Electrical appliances
Meanwhile, Kuwait’s imports of machinery, appliances, and electrical equipment fell by KD 171.3 million, or 8 percent, to KD 1.955 billion in 2024, compared to KD 1.99 billion in the previous year.
Imported equipment is categorized into two segments:
First segment: The first segment includes machinery, equipment, mechanical tools, and their parts, valued at KD 916.3 million—a decline of 11.8 percent, or KD 122.5 million, compared to KD 1.038 billion in the previous year. The quarterly import values were approximately KD 211.3 million in the first quarter, KD 210.64 million in the second quarter, KD 242.7 million in the third quarter, and KD 251.5 million in the last quarter.
Second segment: The second segment consists of machinery, appliances, electrical equipment, and audio and video recording and broadcasting equipment, which totaled KD 1.04 billion, down by 4.5 percent, or KD 48.8 million, from KD 1.08 billion. Imports of these devices were valued at KD 272.8 million in the first quarter, dropped to KD 207.6 million in the second quarter, increased to KD 291.3 million in the third quarter, and then declined to KD 267.6 million in the last quarter.
Gold and jewelry
Kuwait’s imports of gold, jewelry, and precious metals rose by 10.9 percent, or KD 70.1 million, to KD 712.74 million, up from KD 642.6 million in 2023. Gold imports increased by 17.8 percent, or KD 49.5 million, to KD 326.86 million, compared to KD 277.32 million. Meanwhile, imports of jewelry and its parts made of precious metals grew by 5.6 percent, or KD 20.6 million, reaching KD 385.87 million, up from KD 365.27 million.
Additionally, imports of natural or cultured pearls, precious and semi-precious stones, and precious metals increased by 10.3 percent, or KD 68.3 million, to KD 729 million, compared to KD 660.6 million. Imports of artworks and antiquities surged by 250 percent, or KD 3.46 million, reaching KD 4.85 million, up from KD 1.386 million in 2023.
