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FINANCIAL NEWS
Kuwait’s non-oil sectors rise 10.6 percent
18 Aug 2014
(MENAFN) Kuwait’s non-oil sectors registered a solid growth, reaching 10.6 percent in 2013, boosting the country’s nominal domestic products gross to hit USD175.4 billion, an increase of 2.3 percent compared to last year, Times of Oman reported.
The growth has been mainly driven by three sectors: manufacturing, including petrochemicals but excluding refining, which grew 33.5 percent, government and other services, rising 10.9 percent and the trading sector, which rose 12.3 percent.
The non-oil sectors have been steadily improving since 2011 with 2013 being registered as the strongest so far. “We still look for real growth of about 4.5 per cent in the non-oil sector for this year and next,” the Group chief economist at National Bank of Kuwait said.
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