Mubasher: Kuwait's trade balance surplus registered a 141.2% year-on-year hike in August, according to recent data released by the Central Statistical Bureau (CSB).
Trade balance surplus amounted to KWD 1.2 billion ($3.96 billion) in August, compared to KWD 498 million ($1.6 billion) in the same month a year earlier.
Kuwait’s exports jumped 48.3% to KWD 1.97 billion ($6.52 billion) in August, while the GCC nation’s imports plunged 7.3% year-on-year to KWD 772 million ($2.55 billion), the state-run statistics agency’s data showed.
While Kuwait’s bilateral trade increased by 26.9% to KWD 2.74 billion in August, from KWD 2.16 billion in the same period of the prior year.
China topped the list of Kuwait’s export destinations with KWD 28.5 million of the Arab nation's total exports, followed by India and GCC countries, which made up KWD 23.1 million and KWD 42 million, respectively.
