Kuwait’s non-oil export value reaches KD 394.1 million

• The UAE, India, Saudi Arabia, China, and Iraq are the top destinations for Kuwait’s non-oil exports.

• The country’s industrial strategy aims to diversify the economy and increase the contribution of the manufacturing sector to GDP.

Kuwait’s non-oil exports have experienced a notable uptick in the first four months of the year, according to official figures.

The total value of non-oil exports reached approximately KD 394.1 million, marking a 5% increase compared to the same period last year when it stood at KD 375.7 million.

The country exports a variety of domestically produced goods, including natural pearls, gemstones, precious metals, dairy products, essential oils, iron, steel, glass, and aluminum.

The United Arab Emirates, India, Saudi Arabia, China, and Iraq are among the leading importers of Kuwait’s non-oil products, reports Al-Qabas newspaper.

A detailed breakdown of the trade data for the period from January to April, released by the Central Statistical Bureau, reveals that Kuwait’s total exports amounted to KD 8.4 billion.

The majority of these exports consisted of oil and its primary derivatives, totaling approximately KD 7.7 billion. Local products contributed KD 394.1 million, while re-exports amounted to KD 266.1 million.

Kuwait’s imports

Regarding imports, Kuwait’s total imports for the same period reached KD 3.7 billion, marking a slight decrease compared to the previous year’s figure of KD 3.8 billion.

Major imports included automobiles, electrical machinery and equipment, pharmaceutical products, textiles, clothing, meat, furniture, and fruits.

China topped the list of countries exporting products to Kuwait, with a total value of KD 698.6 million during the first four months of the year.

The UAE followed closely, exporting products worth approximately KD 514.9 million. The United States ranked third with exports valued at KD 342.1 million, while Saudi Arabia exported products worth KD 206.7 million to Kuwait during the same period.

Industrial strategy

Kuwait’s industrial strategy aims to achieve several objectives, including:

• Increasing the industrial sector’s contribution to GDP.
• Attracting more domestic and foreign investments in the industrial sector.
• Promoting Kuwaiti products regionally and internationally.
• Diversifying exports.

The strategy specifically targets increasing industrial exports from KD 1.67 billion to approximately KD 3 billion in the coming years, raising investments in the industrial sector from KD 5.2 billion to KD 11 billion, and increasing the number of specialized jobs for national workforce in the industrial sector from 11,000 to 25,000.

Priority industrial activities

The strategy prioritizes the following industrial sectors:

1. Petrochemicals and chemical products
2. Food industries
3. Medical industries (pharmaceutical products, medical supplies, medical technology)
4. Renewable energy production supplies
5. Fourth generation industries (artificial intelligence devices, 3D printers, nanotechnology-related industries)
6. Construction materials