Kuwait exports down by 45.1 pct in Q3 – Shipments to GCC countries up 12.5% to KD 137.3mn

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KUWAIT CITY, Dec 20, (KUNA): In July-September 2015, Kuwait’s exports were KD 4. 1 billion with a 45.1 percent decrease and imports were KD 2.3 million with a 3.9 percent increase compared with July-September 2014, according to foreign trade statistics. In July-September 2015, balance of trade was KD 1.8 billion while it was KD 5.3 billion in July-September 2014 with a 65.7 percent decrease.

In the same period, volume of trade decreased 33.9 percent compared with the third quarter of 2014. Trade of volume was KD 6.5 billion in July-September 2015 while it was KD 9.8 billion in July-September 2014, the statistics showed. Coverage rate was 178.6 percent in July-September 2015, while it was 338.2 percent in July-September 2014. In the third quarter of 2015, coverage rate (excluding oil) was 18.1 percent while it was 19.9 percent in the third quarter of 2014, they said.

In July-September 2015, the main partner country for non-oil exports was Saudi Arabia with KD 60.6 million. For exports, Saudi Arabia was followed by China (KD 58.7 million) and India (KD 57.8 million). The top country for Kuwait’s imports was China (KD 358.1 million), records for imports range from UAE (229.4 million), United States of America (KD 212.5 million) and Japan (KD 162.2 million), according to the statistics. As compared with the same quarter of the previous year, exports to the GCC countries were KD 137.3 million, increased by 12.5 percent.

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