Arab Today, arab today kuwait imports from china on the rise
Last Updated : GMT 03:44:27
Arab Today, arab today
Arab Today, arab today

Kuwait imports from China on the rise

Arab Today, arab today

Arab Today, arab today Kuwait imports from China on the rise

Kuwait City - Agencies

Kuwait imports from China have accelerated in June to 20.5 per cent YoY, from 12.9 per cent YoY in the previous month. Slowing global demand, exacerbated by an underperforming US economy and a lingering debt crisis in the eurozone, has considerably dampened trade around the world, including China. Chinese exports grew a mere one per cent year-on-year in July, down from 11.3 per cent YoY the previous month. Exports to the G2 economies (US and eurozone) have faltered the most, contracting by 8.5 per cent YoY in July, down from 11.3 per cent YoY growth in June. Due to a highly interlinked supply chain in Asia, and given slowing demand from the G2, trade between Asian countries has softened as well. Chinese exports to Asian countries have eased from 16.1 per cent YoY in May to 13.5 per cent YoY in June. However, the deceleration has not been as severe as that of the developed economies due to the robust domestic sector in Asia. Alternatively, the GCC (Gulf Cooperation Council) has maintained its strong demand for Chinese goods. Chinese exports to the GCC were growing at 30.5 per cent YoY in June, slightly softening from May figures of 32.5 per cent YoY. Among the GCC countries, Chinese exports to Qatar decelerated most, from 44.7 per cent YoY in May to 12.7 per cent YoY in June, while Chinese exports to Kuwait have accelerated in June to 20.5 per cent YoY, from 12.9 per cent YoY in the previous month. Thus, China is still benefiting from the strong demand coming from the GCC. In times of global economic distress, asset prices generally fall with economic activity. For instance, in the last financial crisis in 2008, real estate prices in the US lost substantial value and crude oil Brent prices fell from above $140 to less than $40. In such cases, economies that depend on their oil revenues, such as OPEC (Organization of the Petroleum Exporting Countries) and GCC members, dip as well. However, oil prices have been steadily high during the current economic backdrop; initially due to the Arab Spring, and more recently due to increasing expectations of a coordinated stimulus from central banks and governments around the world. The high oil prices have benefited oil exporters, namely Saudi Arabia and Kuwait. And while the Chinese export industry did weaken, increasing investments and infrastructure schemes have required large amounts of oil, maintaining a stable market for GCC oil exports. Consequently, Kuwait and other GCC nations continue to enjoy an ongoing buoyant source of income, keeping their economies afloat. This subsequently increases domestic demand, partly through government incentives, which translates into stronger demand for external goods, among them Chinese exports. ies between Kuwait and China have been robust; for instance, 10 per cent of Kuwait’s imports come from China and about five per cent of China’s petroleum imports come from Kuwait alone, benefiting both parties despite the current economic slowdown. On one hand, China gains by exporting goods to Kuwait at a time when other trade partners, such as the US and the eurozone, are witnessing an economic slowdown. On the other hand, Kuwait enjoys a stable source of demand from China for its oil. The GCC members have been resilient against the global economic slowdown, with Kuwait increasing its demand for Chinese products in June, as the graph shows. The country’s main imports are vehicles, machinery and raw materials used for construction; and increasing imports from China suggest Kuwait’s domestic activity picked up. As long as oil prices remain above $80 this year, Kuwait and other Chinese oil-exporting partners will continue to enjoy solid growth. High oil exports and improving domestic demand in Kuwait are expected to maintain a firm level of growth. Money supply accelerated and credit growth picked up to five per cent YoY in June, the highest in more than two years, propelling domestic consumption. There are concerns that the issues in developed nations will remain unresolved beyond this year, which would lead to countries such as China and the GCC members losing key economic partners in the West, such as the US and the euro zone, in the short term. From gulftoday

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 kuwait imports from china on the rise Arab Today, arab today kuwait imports from china on the rise

 



Arab Today, arab today
Arab Today, arab today Nasima Gamei revives Algerian heritage in jewelries

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives Algerian heritage in jewelries
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 16:32 2017 Wednesday ,22 February

US Treasury chief tells IMF to monitor currencies

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout

GMT 05:26 2017 Wednesday ,22 February

Singapore carbon tax would hit refiners, help renewables

GMT 05:18 2017 Wednesday ,22 February

Chinese PM: US should avoid ‘trade war,’

GMT 20:59 2017 Tuesday ,21 February

Economy good, but homes in German cities overpriced

GMT 05:29 2017 Tuesday ,21 February

Sovereign funds pulled $38bn from markets in 2016
View News in Arabic - Business: نفط وبتروكيماويات
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 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories

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 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model
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