Press Releases

19.07.18Press Release: Key Developments in the Balance of Payments of the State of Kuwait for the First Quarter of 2018

The Central Bank of Kuwait (CBK) published today the preliminary data of the Balance of Payments (BOP) of the State of Kuwait for the first quarter of 2018 and the revised data of the fourth quarter of 2017. The aforesaid Data show that the Current Account surplus (summing up receipts and payments between domestic economy and other economies in terms of goods, services and income) recorded a surplus of KD 1,680 million during the first quarter of 2018 against a surplus of KD 1,158 million during the previous quarter, representing a hike of KD 521.8 million, i.e. 45.1%. The upturn in the current account surplus is due to the appreciation in the surplus of balance on goods and the depreciation in the surplus of primary income on one hand, and the increase in both services account deficit and secondary income deficit on the other. The surplus in the current account mainly reflects a surge in the surplus of the balance on goods (merchandise exports minus merchandise imports) to KD 3,350 million during the first quarter of 2018, compared to KD 2,291 million during the previous quarter. Furthermore, deficit in the Services Account (net value of services transactions between residents and non residents, the most important of which are transportation, travel, communications and construction) increased by KD 294.8 million or 17.8% to KD 1,954 million during the first quarter of 2018, compared to a deficit of KD 1,659 million during the previous quarter.

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