Kuwait-Mubasher: Figures of trade surplus in Kuwait are expected to show further decline for the fourth quarter of 2015 as oil prices continue to fall, according to a statement issued by NBK.
The country’s trade surplus narrowed in Q3-15 to KWD 1.8 billion on the back of lower oil revenues, however, the surplus remains “relatively healthy” at 17% of GDP.
NBK noted that oil export revenues fell to KWD 3.7 billion in Q3-15 from KWD 4.3 billion in Q2-15.
Kuwait export crude (KEC) slid to $47 in Q3-15 per barrel from an average of $58 per barrel in Q2-15. Therefore, oil export receipts have declined by 48% year-on-year (y/y).
