Mubasher: Kuwait’s balance of payments (BoP) achieved a 90.95% surplus, recording KWD 1.14 billion ($3.76 billion) in 2018, compared to KWD 597 million ($1.97 billion) a year ago, according to data released by the Central Bank of Kuwait’s (CBK) on Wednesday.
The current account surplus soared 111.7% to KWD 6.16 billion last year, up from KWD 2.91 billion in 2017, the CBK said.
Growth in Kuwait’s current account was attributed to a rise in the surplus of the GCC nation’s trade balance after the value of oil exports levelled up.
The deficit in the balance of services increased by 19.8%, or KWD 1.21 million, to KWD 7.341 million in 2018 from KWD 6.127 million a year earlier.
The financial account registered a 38.56% surge, with net inflows of KWD 7.33 billion last year, compared to KWD 5.29 billion a year earlier, the CBK said.
