The spending of Kuwaitis on travel during the first quarter of this year jumped to 590.8 million dinars, compared to about 355.8 million dinars in the fourth quarter of last year (2020), with a 66 percent increase in spending between the two periods.
According to the preliminary data for the balance of payments for the first quarter of 2021 issued by the Central Bank of Kuwait, spending on travel declined during the first quarter of 2021 by 50.4 percent compared to its level in the corresponding quarter of last year, when Kuwaitis then spent about 1.19 billion dinars on travel.
As for the remittances of expatriates, it was 1.367 billion dinars in the first quarter of this year, a decrease of 7.3% compared to the transfers of the fourth quarter of 2020, which was to 1.475 billion, while they witnessed a slight increase of 0.96 percent compared to the first quarter of last year, which was 1.354 billion dinars.
The Central Bank attributed this decrease to the decrease in the value of the total receipts listed on the credit side of the current account by about 2,287.4 million dinars, or 25.9% compared to the previous quarter, on the one hand, and the decrease in the value of the total payments listed on the debit side of the current account by 238.8 million dinars, or by 4.6 percent percent compared to the previous quarter, on the other hand.
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