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KUWAIT CITY, Jan 3: The remittances sent by expatriates in Kuwait, Central Bank of Kuwait data showed that remittances of workers during the nine-month period of 2022 amounted to KD 4.27 billion. It was about KD 1.49 billion in the first quarter, KD 1.51 billion in the second quarter, and KD 1.28 billion in the third quarter.
Expatriates’ transfers increased by 3.6 percent during the first nine months of 2022, compared to transfers amounting to KD 4.12 billion during the same period in 2021. The balance of payments is considered a reflection of the performance of the Kuwaiti economy during the financial period, in terms of the overlap of the local economy with the global economy.
The balance of payments is an important tool that allows decision-makers to determine the competitiveness of the economies of their countries. It helps them in planning, drawing and evaluating macroeconomic policies in general and economic relations, especially in light of its productive structure and the strength and competitiveness of its national economy.