Trade Balance in Kuwait

Kuwait Trade Balance | Economic News & Forecasts

Kuwait - Trade Balance

Economic activity seemingly recovered slightly in Q3, after the drop in oil production and prices, coupled with lockdown measures, likely weighed heavily on GDP in Q2. Most lockdown restrictions were eased in the third quarter, while private sector credit growth was relatively healthy in July–August, which should have supported domestic demand. That said, EIA data showed oil production year-on-year declined at a significantly sharper pace in Q3 compared to Q2, while energy exports were likely downbeat due to still-subdued oil prices and global demand. Meanwhile, in politics, the government committed to implementing a 5% VAT starting in April next year as part of its efforts to reduce its reliance on oil—a key requirement for lawmakers to pass a new and much-needed debt law.

Kuwait - Trade Balance Data

2015   2016   2017   2018   2019  
Trade Balance (USD billion)27.8  19.5  25.7  40.8  -     

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Kuwait Trade Balance Chart


Kuwait Trade Balance
Note: Trade balance in (USD bn).
Source: Central Bank of Kuwait.

Kuwait Facts

Value Change Date
Exchange Rate0.30-0.05 %Dec 31

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