Mubasher: Kuwait’s current account registered a deficit of KWD 448 million ($1.48 billion) in the third quarter of 2018, compared to a surplus of KWD 961 million ($3.18 billion) in the second quarter of 2018, according to data issued by the Central Bank of Kuwait (CBK).
The current account deficit is attributed to the 18.5% fall in the surplus of the current account to KWD 2.16 billion in Q3-18, against KWD 2.65 billion in Q2-18. This occurred after an 8.4% drop in the commodity balance to KWD 3.47 billion, the CBK explained in a statement on Thursday.
Meanwhile, the deficit in the balance of services widened by 2.5% to KWD 2.04 billion, while the surplus of the current and capital account tumbled 18.6% to KWD 2.15 billion.
The financial account registered a deficit of KWD 2.64 billion in Q3-18, down 22.1% quarter-on-quarter from KWD 3.39 billion, the CBK noted.
The value of reserve assets amounted to KWD 448 million, compared to liabilities of KWD 961 million in Q2-18.
