Mubasher: Kuwaiti exports surged 42.5% year-on-year during October 2018, reaching KWD 2.12 billion ($7 billion), up from KWD 1.49 billion, to record its highest level in four years, or since October 2014, , Central Statistical Bureau (CBS) data revealed.
The value of mineral fuel exports and oil went up 45%, to KWD 1.97 billion during October 2018, from KWD 1.36 billion in the same month in 2017, CBS’ data added.
Oil exports acquire around 92.7% of Kuwaiti exports in October 2018, while organic chemical products’ exports dominated 2.7% of the nation’s total exports at a value of KWD 58 million.
The GCC country’s trade exchange grew 25.4%, to KWD 3.041 billion, from KWD 2.42 billion in the same month of 2017.
Kuwait’s trade balance surplus surged 116.3% year-on-year in October 2018, reaching KWD 1.217 billion, compared to KWD 563 million.
Oil industry in Kuwait represents more than 50% of the gross domestic product (GDP).
