Central Bank of Kuwait reports BoP surplus of KD 821.2 mln. in ’19

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KUWAIT, May 11 (KUNA) — The Central Bank of Kuwait said Monday the balance of payments (BoP) registered a surplus of KD 821.2 million (nearly USD 2.7 billion) in 2019 compared with KD 1.1 billion (USD 3.6 billion in the previous year.

The preliminary data on BoP in 2019 and the revised data of 2018 show that the current account secured a surplus of KD 6.7 billion (some USD 22 billion) in 2019, compared with the KD six billion (USD 19.8 billion) in the previous year, reflecting an increase by 11.9 percent.

The surplus in trade account between 2018 and 2019 reached KD 714.5 million (nearly USD 2.3 billion) with the trade account of the BoP saw KD 7.4 billion (USD 24.4 billion) in net cash flow overseas, compared with KD 6.6 billion (some USD 217 billion) in 2018.

The overall BoP showed a surplus of KD 3.7 billion (USD 12.3 billion) last year, compared with KD 7.8 billion, (USD 25.7 billion in the previous year.
The BoP is a statement of all economic transactions between one country and the rest of the world over a defined period of time; it is divided into two categories – one for creditor and anther for debtor.

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