Trade balance surplus hit Kuwaiti dinar 5.3bn in July-September 2014

Kuwait's trade balance realized a surplus of about KD 5.307 billion in the third quarter of 2014, compared to KD 6.244 billion in the same period of 2013, Central Statistical Bureau (CSB) said.
In a statement to KUNA today on the occasion of revealing the report of foreign trade statistics in July-September 2014, the CSB said Kuwait's total exports have realized KD 7.609 billion, a decrease of 8.7 percent if compared to the same period.
Imports were KD 2.302 billion with a 10.4 percent increase compared with July-September 2013, it added.
In the same period, volume of trade decreased 4.8 percent compared with the third quarter of 2013. Trade of volume was KD 9.911 billion in July-September 2014, while it reached KD 10.415 billion in the same period of 2013, it noted.
Coverage rate was 330.5 percent in July-September 2014, while it reached 399.5 percent in July-September 2013, the statement elaborated, indicating that coverage rate in the third quarter of 2014 (excluding oil) hit 19.8 percent and 22.6 percent in the third quarter of 2013.
For July-September 2014, the top categories for exports were "mineral fuels and oils" (KD 7.155 billion) with share of 94.0 percent and then "organic chemicals" (KD 143.5 million) 1.9 percent, "Plastics and Articles Thereof" (KD 68.1 million) 0.9 percent, it said.
In the same period, "Vehicles other than railway or tramway rolling-stock, parts thereof" has by far the highest value imported at KD 339.0 million with share of 14.7 percent and then, "Boilers, machinery and mechanical appliances, parts thereof" (KD 287.8 million) 12.5 percent, "Electrical Machinery and Equipment" (KD 241.9 million) 10.5 percent and "Natural or cultured pearls, precious and semi-precious stones" (KD 97.6 million) 4.2 percent, the statement added.
According to the statement, in July-September 2014, the main partner country for non-oil exports was India with KD 97.3 million. For exports, India was followed by China (KD 64.2 million) and then UAE (KD 53.5 million).
The top country for Kuwait's imports was China (KD 325.4 million), records for imports range from United States of America (KD 241.5 million), UAE (KD 202.2 million) and Germany (KD 58.4 million).
As compared with the same quarter of the previous year, exports to the GCC countries were KD 124.1 million, decreased by 4.1 percent. The share of the GCC countries was 1.6 percent in July-September 2014 while it was also 1.6 percent in July-September 2013, it noted.
In the same period, imports products from industrial supplies reached 26.2 percent. As compared with the same period of the previous year; food and beverage increased 15.3 percent, it concluded.