Arab Today, arab today kuwaits trade surplus retreats in 2014
Last Updated : GMT 19:46:16
Arab Today, arab today
Arab Today, arab today

Kuwait's trade surplus retreats in 2014

Arab Today, arab today

Arab Today, arab today Kuwait's trade surplus retreats in 2014

Kuwait Trade Centre
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*

Arab Today, arab today kuwaits trade surplus retreats in 2014 Arab Today, arab today kuwaits trade surplus retreats in 2014

 



Arab Today, arab today
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 13:56 2017 Thursday ,23 February

BIDEC2017 set to attract military industries

GMT 13:51 2017 Thursday ,23 February

Estiqlal Highway to be partly closed for maintenance

GMT 13:27 2017 Thursday ,23 February

Ceramic glazing workshop launched

GMT 13:22 2017 Thursday ,23 February

Alba supports BIGS2017

GMT 11:51 2017 Thursday ,23 February

Dubai to launch driverless flying cars by this summer
View News in Arabic - Business: اقتصاد عربي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday