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FINANCIAL NEWS
Kuwait’s trade surplus hits USD19.54b in Q2
19 Nov 2014
(MENAFN) Kuwait’s trade surplus dropped slightly for the third consecutive quarter during the April-June period of this year, reaching USD19.54 billion, with the trade surplus projected to contribute 47 percent of the country’s GDP in 2014, KUNA reported.
During the second quarter of this year, oil export earnings slipped by USD342.89 million, reaching USD25.37 billion though the decrease was smaller than the USD1.02 billion drop in the first quarter of this year, which is due to higher Kuwait Export Crude (KEC) during the quarter.
Meanwhile, non-oil exports continued to decline during the April-June period of this year, though their rate of decline was less compared with the first quarter of this year when they fell by 4.3 percent, declining by 3.2 percent during this quarter compared to the same period in 2013, and registering an earning USD1.37 billion, which is a two-year low.
Import growth also continued to decline during the second quarter of this year compared with last year’s growth rates, with a growth level by 5.4 percent compared with the same quarter last year, as the value of the imports reached USD7.54 billion.
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