Kuwait’s exports to America 1.72 billion in 2023
Kuwait’s exports to the United States reached a value of $1.72 billion in 2023 compared to $2.04 billion in 2022. This places Kuwait in sixth place among Gulf states in terms of exports to the US.
Meanwhile, Kuwait’s imports from the US decreased by 14% to $2.92 billion in 2023, compared to $3.4 billion in 2022.
Overall, the GCC’s exports to the US witnessed a significant 26.8% decline in 2023, reaching a total of $29.05 billion compared to $39.68 billion in 2022.
This was accompanied by a 11.3% decrease in imports from the US, which stood at $37.11 billion in 2023 compared to $41.73 billion in 2022.
As a result, the trade surplus in favor of the US with the six GCC states increased to $8.066 billion in 2023, compared to a deficit of $2.055 billion in 2022.
Country-by-country breakdown:
Saudi Arabia retained the top spot with exports of $15.877 billion in 2023, down from $23.273 billion in 2022. Imports from the US stood at $11.45 billion in 2023.
UAE exported $6.578 billion in 2023, compared to $6.883 billion in 2022. Imports from the US reached $24.85 billion in 2023.
Oman ranked third with exports of $1.651 billion in 2023, down from $2.71 billion in 2022. Imports from the US stood at $1.86 billion in 2023.
Qatar exported $2.047 billion in 2023, compared to $2.87 billion in 2022. Imports from the US reached $4.658 billion in 2023.
Bahrain exported $1.18 billion in 2023, down from $1.9 billion in 2022. Imports from the US stood at $1.676 billion in 2023.
US Trade Performance:
US exports decreased by 2.2% in 2023 to $2.019 trillion, compared to $2.065 trillion in 2022.
US imports declined by 4.6% in 2023 to $3.084 trillion, compared to $3.242 trillion in 2022.
