Kuwait’s Imports Soar Over 14% to KD734.5 Million

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Exports witnessed a decline to 12.7 bln dinars

KUWAIT CITY, Oct 14: Official data revealed that the bill for imported goods in Kuwait rose by more than 14%, to 734.5 million dinars during the first half of the current year, as the value of Kuwait’s imports from January until the end of June 2023 was about 5.83 billion dinars for 18.7 million tons of goods, compared to 5.1 billion dinars for 16.8 million tons of goods during the same period in 2022, reports Al-Anba daily. from January to March 2023, Kuwait imported about 9.46 million tons of goods, worth 2.96 billion dinars, compared to 8.38 million tons of goods, worth 2.38 billion dinars during the same period in 2022, and from April to June 2023, it imported about 9.25 million tons at a cost of 2.87 billion dinars, compared to 8.5 million tons at 2.7 billion dinars for the same period in 2022. Foreign trade data issued by the Central Administration of Statistics from January until the end of June 2023, the volume of trade exchange with Kuwait was about 18.5 billion dinars, as Kuwait recorded trade exchange from January until March 2023 to 9.56 billion dinars, and from April until the end of June about 8.98 billion dinars.

Trade balance
The country’s trade balance recorded about 6.88 billion dinars, 3.63 billion dinars for the first quarter of the year, and 3.24 billion dinars during the second quarter. The data revealed that the value of Kuwait’s total exports witnessed a decline to 12.7 billion dinars during the first half of 2023, with a value of 3.12 billion dinars, compared to 15.84 billion dinars during the same period in 2022, and the majority of the decline in total exports came from a decline in revenues from oil and derivatives exports, with a value of 3.14 billion. dinars, reaching 11.78 billion dinars, compared to 14.9 billion dinars for the same period in 2022.

As for the goods imported by Kuwait, cars accounted for about one billion dinars of merchandise imports during the first 6 months of the current year, as the value of the country’s imports of automobiles amounted to tractors, bicycles, and other ground vehicles amounted to about 933.34 million dinars, amounting to 488 million dinars during the second quarter of the year, and 445.34 million during the first quarter of 2023. The value of the country’s imports of watches, which are classified under the name of watchmaking items and their parts, amounted to about 44.7 million dinars, amounting to 23.9 million dinars. Dinar imports of watches during the second quarter of 2023, and 20.8 million dinars imports in the first quarter of the same year.

Kuwait’s imports of medicines (pharmaceutical products) amounted to about 302 million dinars during the period from January to the end of June 2023, as the value of Kuwait’s imports of these types during the first quarter of the current year amounted to about 167.4 million dinars, while the value of imports for the second quarter of The same year, about 134.37 million dinars. In addition, the value of Kuwait’s imports of perfumes amounted to about 133 million dinars in 6 months, of which 66.38 million dinars were spent during the period from January to the end of March 2023 on aromatic oils, resinous material extracts, and perfume and softening preparations, and it also amounted to 66.62 during the period from April to the end of June of the current year. Kuwait’s imports of gold and precious stones amounted to about 320 million dinars in the first 6 months of 2023, as Kuwait’s merchandise imports of natural or cultured pearls, precious and semi-precious stones, precious metals, and ordinary metals covered with a veneer of precious metals during the first quarter of 2023 amounted to about 143.76 million dinars, compared to 176.23 million dinars during the second quarter of the year.

Kuwait’s imports of meat were recorded at about 109.26 million dinars during the first half of the current year, as Kuwait imported products from them at a value of 56.9 million dinars during the period from January to March, and 52.3 million dinars during the period from April to the end of the year. June 2023. Kuwait’s imports of dairy products, dairy products, bird eggs, and honey amounted to about 114.6 million dinars during the first half of 2023, as it imported products worth 57.49 million dinars during the period from January to the end of March, and 57.1 million dinars during the period from April to June. The value of Kuwait’s imports of fish, crustaceans, mollusks, and other plant invertebrates reached about 33.19 million dinars, including 15 million dinars in the value of imports for the first quarter of 2023, and 18 million dinars in the import bill for the second quarter of the year.

Kuwait imported coffee, tea, spices, and avocado worth 36 million dinars during the first 6 months of the current year, amounting to 16.63 million dinars during the period from January until the end of March 2023, and 19.48 million dinars for the period from April until the end of June of the same year. The value of Kuwait’s imports of cocoa and its preparations (chocolate) reached 31.65 million dinars during the first 6 months of 2023, as the value of the country’s imports of these types reached about 18.51 million dinars during the first quarter of 2023, and 13.14 million dinars during the second quarter of 2023. The data showed that Kuwait’s imports of cigarettes, shisha, and related items amounted to 54.3 million dinars in the first 6 months of 2023, as the value of tobacco and its manufactured substitutes during the first quarter of 2023 amounted to about 27.58 million dinars, and 26.75 million dinars during the second quarter of the current year. Kuwait’s imports of children’s toys, entertainment, and sports items and supplies during the first 6 months of the current year amounted to about 29.5 million dinars, with 15.13 million dinars during the second quarter of the year and 14.37 million dinars during the first quarter of 2023.

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