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FINANCIAL NEWS
New record in Kuwait’s surplus in 2012
13 May 2013
(MENAFN) A new record for Kuwait’s trade surplus beats the 2011 record of USD74.45 billion, as the amount reached USD90.95 billion in 2012, reported Arab Times.
Comparing the strong exports with the soft imports, the surplus was around 53 percent of 2012’s gross domestic product.
USD110.98 billion is the oil exports record in 2012, with 18 percent increase from the previous year.
It’s expected that in 2013 the oil production will be reduced by 3 million bpd, furthermore, Kuwait’s oil prices are projected to decline.
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