Increase in Kuwait’s import bill for goods

This news has been read 819 times!

KUWAIT CITY, Dec 26: Official statistics showed an increase in Kuwait’s import bill for goods by about 13.3 percent or KD1 billion in the first nine months of 2023, reports Al-Anba daily. The total value of merchandise imports into Kuwait from January to September amounted to about KD8.64 billion, compared to KD7.6 billion in 2022.

The increase in the bill of goods imported into Kuwait was mainly driven by waves of global price inflation, in addition to the increase in the volume of merchandise imports by more than 2.9 million tons of goods. The volume of goods imported by Kuwait increased by 12.4 percent to reach 26.8 million tons from January to September 2023, compared to KD23.84 million in 2022.

Kuwait’s imports from the United Arab Emirates (UAE) reached KD787 million, KD444 million from Saudi Arabia, KD70 million from Iran, KD2.89 billion from China (33 percent of Kuwait’s total imports), KD523 million from Japan, KD480 million from India, KD134 million from Thailand, and KD98.5 million from Egypt. Kuwait’s export revenues witnessed a decline during the first nine months of the current year by 18.7 percent or KD4.47 billion as the amount reached KD19.3 billion by the end of September this year, compared to KD23.83 billion in 2022.

Goods
The quantity of goods exported by Kuwait increased by about 1.39 percent or 1.34 million tons as the total from January until the end of September 2023 was 97.26 million tons, compared to 95.9 million tons in 2022. Kuwait’s exports to the UAE during the first nine months of the year amounted to about KD285 million, KD160 million to Saudi Arabia, KD93 million to Iraq, KD1.6 million to Gaza, KD82 million to Pakistan, KD13.5 million to Turkey, KD144 million to China and Hong Kong, KD232 million to India and KD27 million to Egypt.

In the first nine months of this year, Kuwait imported KD423 million worth of live animals and products, including KD43 million of live animals, KD165.3 million of meat, KD49.24 million of fish, and KD165 million of dairy products, eggs and honey. Kuwait’s purchases of chocolate and its products in the first nine months of 2023 amounted to KD45.5 million with cocoa and its preparations amounting to KD18.5 million in the first quarter of the year, KD13.14 million in the second quarter and KD13.8 million in the third quarter.

Kuwait’s imports of medicines amounted to about KD441.4 million, as the pharmaceutical products item included imports amounting to KD167.4 million in the first quarter, KD134.37 million in the second quarter and KD139.6 million in the third quarter. Kuwait imported perfumes worth KD196 million with essential oils, resinous material extracts, perfume and softening preparations amounting to KD66.38 million in the first quarter, KD66.6 million in the second quarter and KD62.56 million in the third quarter. Kuwait’s imports of children’s toys amounted to KD41.23 million — KD14.37 million in the first quarter, KD15.13 million in the second quarter and KD11.7 million in the third quarter.

This news has been read 819 times!