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Kuwait’s exports to US reached $220 million in first quarter of 2024

The country ranked sixth in the Gulf region in terms of export value to America, and its imports from the US in Q1 2024 amounted to approximately $535.7 million.

  • The exports of Gulf countries to the US in Q1 2024 soar by 20%, reaching $6.22 billion, compared to $7.79 billion in exports during the same period last year.

  • The value of GCC countries’ imports from the US increased to about $12.25 billion in Q1 2024.

  • Saudi Arabia represents the largest portion of America’s imports from the Gulf countries, amounting to about $3.29 billion during the first quarter of this year.

According to US government’s economic data, Kuwait’s exports to the United States of America declined by 11.3% in the first quarter of this year, totaling $220 million. This places Kuwait sixth in the Gulf region in terms of export value to America, compared to exports worth $248.3 million in the first quarter of 2023.

On the other hand, Kuwait’s imports from the US in the first quarter of this year amounted to approximately $535.7 million, compared to imports worth $638.2 million in the corresponding period of the previous year.

Regarding Gulf countries’ exports to the US during the first quarter, they increased by 20%, reaching $6.22 billion, compared to $7.79 billion in exports for the same period last year.

Additionally, the value of GCC countries’ imports from the US also increased during the period to about $12.25 billion, compared to $11.23 billion in the first quarter of 2023.

The trade surplus between the Gulf Cooperation Council countries and the US reached approximately $6.04 billion in favor of the US during the first quarter of 2024, compared to a deficit of $3.44 billion in the corresponding period of 2023.

Saudi Arabia represents the largest portion of America’s imports from the Gulf countries, amounting to about $3.29 billion during the first quarter, compared to $4.38 billion in exports for the same period in 2023, marking a decline of 25%.

Additionally, the value of Saudi Arabia’s imports from the US during the first quarter was about $3.23 billion, compared to $2.98 billion in the comparable quarter of the previous year.

The value of the UAE’s exports declined by 15.46% in the first quarter, reaching about $1.43 billion, compared to about $1.69 billion in the same period last year. Additionally, the value of the UAE’s imports from the US reached about $6.7 billion, compared to $6.21 billion in the corresponding period of 2023.

As for the State of Qatar, its exports to the US in the first quarter amounted to about $646.2 million, marking a 7.55% decline from the comparative quarter of last year when exports amounted to $698.9 million. Moreover, the value of Qatar’s imports from the US was about $991 million, compared to $997.6 million in the first quarter of 2023.

An annual decline of 4% was recorded in Kuwaiti exports to Tokyo, totaling $605 million.



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