- Surplus drops to 1.77 billion dinars, foreign trade slows
- Saudi Arabia remains top market for Kuwaiti non-oil exports despite trade slowdown
- China retains position as Kuwait’s largest import source in March
Kuwait’s trade surplus fell by 30.6 percent in the first quarter of 2026 to 1.768 billion dinars, compared with 2.54 billion dinars during the same period a year earlier, as both exports and imports declined amid lower trade activity.
Data released by the Central Statistical Bureau showed total exports dropped by 20.5 percent to 4.502 billion dinars from 5.66 billion dinars in the first quarter of 2025. Imports also declined, falling 12.3 percent to 2.734 billion dinars from 3.11 billion dinars a year earlier.
As a result, Kuwait’s total trade exchange contracted by 17.6 percent to 7.236 billion dinars during the three-month period, down from 8.77 billion dinars in the corresponding quarter of last year.
The slowdown continued in March, when the monthly trade surplus declined by 29.2 percent year-on-year to 610.6 million dinars, compared with 862.8 million dinars in March 2025. Exports during the month fell 37.8 percent to 1.181 billion dinars, while imports dropped 45 percent to 570.6 million dinars.
Oil and petroleum product exports accounted for the majority of overseas sales, reaching approximately 1.09 billion dinars in March, down from 1.7 billion dinars in the same month last year. Non-oil exports totaled 42.5 million dinars, while re-exports reached 44 million dinars.
Saudi Arabia remained the leading destination for Kuwait’s non-oil exports in March, importing goods worth 26.5 million dinars. The United Arab Emirates ranked second at 17.1 million dinars, followed by Jordan at 7.5 million dinars, India at 7.47 million dinars and Iraq at 5.24 million dinars.
On the import side, China retained its position as Kuwait’s largest trading partner, with imports valued at 105.3 million dinars during March. Saudi Arabia followed with imports worth 95.8 million dinars, ahead of the UAE at 64.1 million dinars and Japan at 31.2 million dinars.
Trade with Gulf Cooperation Council (GCC) countries also weakened during the month. Kuwaiti exports to GCC markets declined by 35.1 percent to 49.4 million dinars compared with 76.2 million dinars in March 2025.
Despite the decline, GCC markets accounted for 4.2 percent of Kuwait’s total exports, slightly higher than the 4 percent share recorded a year earlier.
The latest figures underscore the impact of lower oil export earnings on Kuwait’s external trade performance, even as imports moderated in response to softer domestic demand and changing global trade conditions.
