Kuwait telephone device imports surge in Q2 2023

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KUWAIT CITY, Dec 12: During the second quarter of 2023, Kuwait experienced a noteworthy increase in the import of telephone devices, with the total value reaching 108.76 million dinars. This reflected a 5.2% surge, amounting to an additional 5.4 million dinars compared to the same period in 2022 when the figure stood at 103.29 million dinars, as reported by the Central Administration of Statistics. The broader data on merchandise imports to Kuwait during the same quarter demonstrated a relatively modest uptick of 12 million dinars. The overall value rose from 2.859 billion dinars in the second quarter of 2022 to 2.871 billion dinars in the second quarter of 2023. Notable items in Kuwait’s import portfolio included motor vehicles for transporting people, valued at 396 million dinars. Additionally, the country imported jewelry and its parts amounting to 108 million dinars. The import of various land vehicles, such as cars, tractors, and bicycles, totaled approximately 488 million dinars during the second quarter of 2023.

Imports
Specifically, Kuwait’s import of gold experienced a decrease, totaling about 63.5 million dinars in the second quarter of 2023, representing a decline of 46.6 million dinars compared to the same period in 2022 when the figure stood at 110 million dinars. Other noteworthy imports during this quarter included cosmetics, valued at 29.8 million dinars, an increase from 28.8 million dinars in the same period the previous year. Additionally, T-shirts worth 17.4 million dinars were imported during the second quarter of 2023, a decrease from 24.4 million dinars in the corresponding period of 2022. The merchandise imports of Kuwait during the second quarter of 2023 covered a diverse range of items. Notably, imports of natural or cultured pearls, precious and semi-precious stones, precious metals, and ordinary metals coated with precious metals amounted to 176.23 million dinars. The country also imported dairy products and dairy derivatives, with a total value of 57.1 million dinars during the period from April to June 2023.

Exports
Contrastingly, the total value of Kuwait’s exports during the second quarter of 2023 reached approximately 6.1 billion dinars. Among these exports, petroleum oils and oils extracted from nearby minerals “raw” contributed about 3.7 billion dinars. Other significant exports included petroleum oils and oils extracted from non-ore minerals, amounting to 1.7 million dinars, and propane exports totaling 124 million dinars. Despite the notable surge in imports, Kuwait’s trade balance surplus in the second quarter amounted to about 3.2 billion dinars. However, this indicated a decrease compared to the second quarter of 2022, which witnessed a surplus of 5.8 billion dinars. Analyzing the countries contributing to Kuwait’s imports, China emerged as the leading exporter during the second quarter of 2023, with the volume of Kuwait’s imports from China reaching approximately 569.6 million dinars.

The United Arab Emirates followed in second place with an export value of 274.9 million dinars, succeeded by the United States of America with an export value of 266.9 million dinars. Japan secured the fourth position with a value of 197.66 million dinars. On the flip side, Kuwait’s exports to America were ranked sixth among Gulf countries, with a value of $57 million in October 2023. This marked a decline from $261 million during the same period in 2022. Concurrently, the value of Kuwait’s imports from the United States amounted to about $231.9 million, showcasing a decrease from $297 million in the corresponding period of the previous year.

By Mahmoud Shendi
Al-Seyassah/Arab Times Staff

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