Kuwait Reports 7% Increase In Exports For The First Four Months Of 2024
Kuwaiti exports have experienced a positive growth in the first four months of 2024, according to the Ministry of Commerce and Industry. The value of exports during this period reached 103 million dinars, reflecting a 7% increase compared to the same period in 2023 when exports were valued at 96 million dinars. However, there has been a significant decline in exports in April. In that month, exports fell by 51% to 19 million dinars, down from 40 million dinars in March.
The statistics provided by the ministry also reveal a decrease in exports to Gulf Cooperation Council (GCC) countries. Exports to these countries dropped by 58%, amounting to approximately 12 million dinars. Additionally, exports to other Arab countries decreased by 29%, reaching 6 million dinars compared to March. Exports to European countries stood at 953 thousand dinars, which is a 27% decrease from the previous month.
On the other hand, there has been a substantial rise in exports to African countries. In April, exports to African countries saw a significant increase of 96%, totaling 161 thousand dinars compared to 82 thousand dinars in March. Exports to Asian and Australian countries amounted to 68 thousand dinars.
In contrast, exports to the Americas experienced a sharp decline of 95%. In April, exports to the Americas reached just 13 thousand dinars, compared to 28 thousand dinars in March.
These statistics indicate a mixed performance for Kuwaiti exports. While there has been an overall increase in exports during the first four months of the year, there has been a significant decline in April. The decrease in exports to GCC and other Arab countries, as well as European countries, may be attributed to various factors such as changes in demand and economic conditions. On the other hand, the substantial rise in exports to African countries suggests potential opportunities for trade in that region. It will be interesting to see how these trends develop in the coming months and whether there will be a recovery in exports to other regions.
Sign in with Google