US direct investment in Kuwait hits record high of $685 million in 2022
Data from the US Department of Commerce reveals that US direct investment flowing into Kuwait reached a record high of $685 million in 2022, representing an annual increase of 10.3% compared to $621 million in 2021.
US investment in Kuwait has been steadily increasing in recent years, from $303 million in 2013 to $530 million in 2020.
In contrast, Kuwaiti direct investment flowing into the United States decreased by 2.4% in 2022 to reach $1.4 billion, compared to $1.43 billion in 2021.
The decrease in Kuwaiti investment in the US may be due to a number of factors, including the global economic slowdown and the uncertainty surrounding the US-China trade war.
Kuwaiti direct investment in the United States peaked in 2018 at $1.46 billion, and has seen almost continuous increases since 2013 when it barely surpassed the $1 billion mark.
The Kuwait Direct Investment Promotion Authority (KDIPA) successfully attracted new foreign investments worth 195.37 million dinars ($632.02 million) in the fiscal year 2022-2023, bringing the total accumulated direct investment to about 1.466 billion dinars ($4.73 billion).
