Kuwait’s exports decreased 9.5 percent in July-Sept: CSB
Kuwait’s exports reached KD 3.624 billion for the third quarter of 2016, a decrease of 9.5 percent compared with the same period of 2015, said Central Statistical Bureau (CSB). Imports were KD 2.239 billion in the third quarter of 2016 with a one percent decrease compared with JulySeptember 2015, the bureau added in a press statement yesterday.
In July-September 2016, balance of trade was KD 1.385 billion, while it was KD 1.741 billion in JulySeptember 2015 with a 20.5 percent decrease, the statement showed. In the same period, volume of trade decreased 6.4 percent compared with the third quarter of 2015. Trade was KD 5.862 billion in July-September 2016, while it was KD 6.265 billion in July-September 2015, it said.
Coverage rate was 161.9 percent in July-September 2016, while it was 177 percent in July-September 2015. In the third quarter of 2016, coverage rate (excluding oil) was 16.1 percent compared with 17.8 percent in the third quarter of 2015, it made clear.
For July-September 2016, the top categories for exports were “Mineral fuels and oils” (KD 3.263 billion) with share of 90 percent and then “Organic chemicals” (KD 105.9 million) 2.9 percent, it noted.
In July-September 2016, the main partner country for non-oil exports was India, reaching KD 58.1 million. For exports, India was followed by Saudi Arabia (KD 43.7 billion), UAE (KD 41 million) and China (KD 40.1 million), it explained. The top country for Kuwait’s imports was China (KD 336.8 million), records for imports range from United States of America (KD 227.2 million), UAE (KD 180 million) and Japan (KD 147.2 million), the statement said.
As compared with the same quarter of the previous year, exports to the GCC countries were KD 110.9 million, while it was KD 123.1 million, and decreased by 9.9 percent, it said. The share of the GCC countries was 3.1 percent in July-September 2016, while it was also 3.1 percent in JulySeptember 2015. During the same period, 27.7 percent of imports products were Industrial supplies. As compared with the same period of the previous year; Industrial supplies increased 5.7 percent and Capital goods increased by 19.9 percent, the statement concluded. — KUNA