Sunday , January 21 2018

Kuwait export of non-oil products dropped by 20 pc in Nov: statistics

KUWAIT CITY, Dec 28: Recent statistics released by the Ministry of Commerce and Industry showed that Kuwait’s export of non-oil products dropped by 20 percent in November compared with the annual growth of the sector, reports Al-Rai daily

. According to the report, the total exports reached KD 8 million in November compared with about KD 9.97 million in the same period last year. These exports are distributed as follows: KD 5 million to Arab countries which constitute 62 percent of the total and KD 3 million to the rest of world – 38 percent of the total.

The report revealed that exports declined by about 38 percent monthly, which is equivalent to KD 13 million in October, indicating Iraq received the biggest share of Kuwaiti exports in November – about KD 3 million, followed by Lebanon at KD 296,000; Egypt and Algeria at KD 237,000 (five percent each).

The export to other Arab countries dropped by 33 percent last month; whereas in November alone, the export rate dropped by 17 percent compared with the same month last year. As for exports to the rest of the world, Turkey got the biggest portion at KD 887,000; followed by Spain at KD 497,000 and Italy at KD 320,000

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