kuwaits trade surplus retreats in second quarter 14
Monday 7 July 2025
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

Kuwait's trade surplus retreats in second quarter 14

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice Kuwait's trade surplus retreats in second quarter 14

Kuwait's trade
Kuwait - KUNA

Kuwait's trade surplus narrowed slightly for the third consecutive quarter in 2Q14, to KD 5.7 billion, a report by National Bank of Kuwait (NBK) revealed on Monday. The surplus has been coming off its peak in 3Q13 on the back of softer oil export growth and the continued decline in non-oil exports (mostly petrochemical products), the report said. However, with the trade surplus projected to come in at 47 percent of GDP in 2014, it remains one of the largest by global standards, it added.
Oil export earnings slipped by KD 0.1 billion in the second quarter and currently stand at KD 7.4 billion, it said, noting that the decrease was smaller than the KD 0.3 billion drop in the first quarter of this year, thanks to higher Kuwait Export Crude (KEC) prices during 2Q14. The KEC prices rose by 4.4 percent y/y in Q2, rebounding from the 4.7 percent y/y decline in Q1. However, the rise in oil prices was not enough to counteract the 2.4 percent y/y decrease in oil export volumes. Growth in oil export revenues is set to weaken further in the third quarter, mainly on the back of lower oil prices, it pointed out.
According to the report, the Non-oil exports continued to decline in 2Q14, albeit at a lower rate of 3.2 percent y/y, compared to the 4.3 percent y/y fall in the previous quarter. Non-oil export earnings now stand at an almost two-year low of KD 0.4 billion.
Decreases were witnessed across all the major non-oil components, including ethylene products and re-exports. Ethylene export growth has been declining due to falling ethylene prices. Growth in this component is expected to continue to fall into Q3 of this year, on lower prices, putting downward pressure on overall non-oil export growth, it said.
Import growth continued to ease in 2Q14 from unsustainable double-digit growth last year. Growth came in at 5.4 percent y/y as imports reached KD 2.2 billion in 2Q14. The stronger KD will tend to make imports cheaper and more attractive.
Import growth is likely to pick up somewhat in the near term as economic growth in Kuwait accelerates. Healthy consumer demand combined with brisk implementation of investment projects should help push import growth higher in the medium term, it added.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

kuwaits trade surplus retreats in second quarter 14 kuwaits trade surplus retreats in second quarter 14

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

kuwaits trade surplus retreats in second quarter 14 kuwaits trade surplus retreats in second quarter 14

 



GMT 10:31 2014 Tuesday ,23 December

Mirages of failure: Lebanon cannot wait

GMT 05:17 2024 Wednesday ,07 February

Amazon to open first cashierless shop

GMT 11:14 2017 Saturday ,22 July

Smiley face found on ancient pot in Turkey

GMT 00:49 2017 Friday ,13 January

Meet Cats choreographer Gillian Lynne

GMT 09:57 2016 Tuesday ,08 November

Marks and Spencer: To shut 100 stores in overhaul

GMT 06:37 2012 Wednesday ,21 March

Toxins found in cheap jewellery

GMT 10:30 2015 Monday ,02 March

Designer to the stars dresses disabled catwalk

GMT 08:57 2017 Wednesday ,10 May

Counter terrorism strategies should be compliant

GMT 20:48 2017 Wednesday ,22 March

Sisi reiterates Egypt's support for Lebanon

GMT 06:59 2017 Sunday ,22 October

Philippines' Duterte says he will shoot criminals

GMT 19:57 2018 Tuesday ,23 January

Farm-fresh from Kerala to the UAE, in just one day

GMT 09:36 2018 Wednesday ,10 January

Iran investigates death of young man in custody

GMT 08:51 2017 Tuesday ,15 August

HAAD implements next stage of healthcare reforms

GMT 20:22 2017 Monday ,27 November

Army attacks Saudi-paid mercenaries’ sites in Marib

GMT 08:56 2017 Thursday ,13 July

Reasons of price increase of services

GMT 08:13 2017 Sunday ,13 August

Abdul Hussain Abdul Redha passes away
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice