Mubasher: Kuwait’s balance of payments (BoP) achieved KWD 215 million ($708.05 million) in surplus during the fourth quarter of 2018, against a deficit of KWD 476 million ($1.57 billion) in Q3-18, according to data released by the Central Bank of Kuwait’s (CBK) on Wednesday.
The GCC nation’s balance of payments increased after the current account surplus surged 77.7% to KWD 1.64 billion in Q4-18, while the deficit in the balance of services plunged 39.6% to KWD 1.78 billion, the CBK’s data showed.
Kuwait’s balance of trade levelled down 10.8% to KWD 3.14 billion in Q4-18 from KWD 3.52 billion a quarter earlier.
The financial account registered a deficit of KWD 6 million in Q4-18, compared to KWD 5 million during Q3-18.
The deficit of the financial account increased by 45.4%, logging KWD 2.05 billion in Q4-18, against KWD 1.41 billion during Q3-18.
The country’s balance of payments slumped 48.2% from KWD 415 million in Q4-17.
