Trade Balance in Kuwait
Kuwait - Trade Balance
The economy contracted 1.1% in the final quarter of 2019, after expanding 0.1% in the third quarter, dragging down total growth for 2019 to 0.4% (2018: +1.2% year-on-year). Spearheading the downturn was evaporating growth in the non-oil sector, as trade and financial services suffered notable downturns. Meanwhile, the oil sector’s decline slowed in the fourth quarter as generally higher oil prices supported the sector. Turning to 2020, activity is set to be significantly impaired in the first half of the year: The fallout from the coronavirus pandemic is suppressing non-oil sector activity due to stringent lockdown measures, while historically low oil prices and recently-agreed OPEC production cuts will be weighing heavily on the already-struggling oil sector.Kuwait - Trade Balance Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Trade Balance (USD billion) | 27.8 | 19.5 | 25.7 | 40.8 | - |
Kuwait Trade Balance Chart
Source: Central Bank of Kuwait.
Kuwait Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 0.30 | -0.05 % | Dec 31 |
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