Current Account in Kuwait
Kuwait - Current AccountWhile the oil sector was constrained by OPEC production cuts in the second quarter, with EIA data showing oil output was largely flat year-on-year in the period, the non-oil sector should have provided support. Private-sector credit growth was robust in Q2, while private consumption should have been healthy, amid low inflation and solid employment growth. This comes after the economy gained steam in the first quarter, buttressed by the non-oil sector. On the fiscal front, recent data shows the fiscal deficit narrowed markedly in FY 2018 (April 2018–March 2019) on stronger oil revenue. Heading into the third quarter, the pattern is likely much the same: The extension of OPEC cuts saw oil output fall in annual terms in July, although the non-oil sector should be picking up some slack.
Kuwait - Current Account Data
|Current Account (% of GDP)||40.3||33.4||3.5||-4.6||5.9|
5 years of economic forecasts for more than 30 economic indicators.
Kuwait Current Account Chart
Source: Central Bank of Kuwait and FocusEconomics calculations.
|Exchange Rate||0.30||-0.05 %||Sep 04|
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