Mubasher: Kuwait’s trade surplus retreated by 10.6% year-on-year in the first nine months of 2019, according to estimates released on Monday.
Kuwaiti overall trade balance surplus hit KWD 7.25 billion ($23.94 billion) in the period between January and September, compared with KWD 8.11 billion ($26.79 billion) in the year-ago period, Central Statistical Bureau (CSB) said.
This was ascribed to an 8.2% fall in Kuwaiti exports to KWD 14.9 billion over the reported period, compared with KWD 16.23 billion the year before.
Meanwhile, imports into the Gulf country fell by 5.8% year-on-year to KWD 7.65 billion.
Kuwait’s trade exchange volume amounted to KWD 22.55 billion during the nine-month period, a 7.4% drop from KWD 24.35 billion in the year-earlier period.
On a monthly basis, Kuwaiti’s trade surplus shrank 28.2% to KWD 739 million, compared with KWD 1.029 billion a year ago, while trade exchange volume contracted 19% to KWD 2.407 billion.
During September, Kuwait exported a total of KWD 1.57 billion, lower than KWD 2 billion in the same month last year, whereas imports plunged also 14.1% to KWD 834 million.
