Current Account in Kuwait

Kuwait Current Account | Economic News & Forecasts

Kuwait - Current Account

The economy likely registered only a mild expansion in the first quarter, as oil production cuts constrained the energy sector. While the non-oil sector should have compensated somewhat, consumer spending appeared to lose momentum, as suggested by data on ATM withdrawals and point-of-sale transactions, and softer consumer confidence. Turning to the second quarter, growth was likely similarly subdued. In April and May, oil output averaged lower than in Q1 as Kuwait boosted compliance with the OPEC deal, which will have weighed on the oil sector. However, private-sector credit growth was robust in April, while brisk consumer borrowing growth in recent months could have fed through to stronger private consumption.

Kuwait - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)40.3  33.4  3.5  -4.6  5.9  

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Kuwait Current Account Chart

Kuwait Current Account
Note: Current account balance as % of GDP.
Source: Central Bank of Kuwait and FocusEconomics calculations.

Kuwait Facts

Exchange Rate0.30-0.05 %Jul 11

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