Mubasher: Kuwait’s current account registered a surge of 127.1% or KWD 620 million in surplus during the fourth quarter of 2017 compared to the same period a year ago, according to data issued by the Central Bank of Kuwait (CBK).
The preliminary data of Kuwait’s Balance of Payments (BOP) for the fourth quarter of 2017 showed that the surplus enlarged to KWD 1.108 billion during the fourth quarter of 2017 compared to KWD 488 million in the same period a year ago
The current account, including summing up receipts and payments between domestic economy and other economies in terms of goods, services and income.
“The upturn in the current account surplus is due to the appreciation in the surplus of balance on goods and the depreciation in the surplus of primary income on one hand, and the contraction in the services account deficit and the increase in the secondary income deficit on the other,” the CBK added.
A surplus of the balance on goods, including merchandise exports minus merchandise imports, surged to KWD 2.291 billion during the last quarter of 2017 as compared to KWD 1.748 billion in Q4-16.
