Kuwait – Mubasher: Kuwait’s trade surplus saw a rise for the second time in a row during the third quarter of 2016, according to a report issued by NBK.
The surplus slightly widened to KWD 1.4 billion in Q3-16 due to the continuous recovery of oil prices, the report revealed, adding that this increase, however, is still below 2014-levels.
The surplus is forecast to keep improving as “oil earnings continue to edge higher against a backdrop of recovering oil prices”, the report showed.
The price of Kuwait export crude moved up 2% quarter-on-quarter in Q3-16, edging uo export revenues to KWD 3.3 billion.
Non-oil exports also rose in the said quarter, staying, however, lower 12% year-on-year, while imports shrank 1% year-on-year for the second straight quarter on the slowdown of industrial supply and consumer goods imports, the report indicated.
