Press Releases

The Central Bank of Kuwait (CBK) released today the provisional figures for the Balance of Payments (BOP) of the State of Kuwait for 2010 and revised data for 2009. Provisional BOP figures for 2010 show significant rises in the surpluses realized in the main external balances during that year, compared to 2009. The surplus realized in the Current Account (which reflects the outcome of transactions between the domestic economy and other economies involving goods, services, investment income, and unrequited current transfers) increased by 42.3 %to reach KD 10553 million during 2010, compared with KD 7418 million during 2009. That increase in the Current Account surplus was mainly an outcome of the rise in the Surplus of the Balance on Goods (merchandise exports minus merchandise imports on f.o.b. basis) by about 38.7%, from KD 9897 million during 2009 to KD 13731 million during 2010.

Regarding developments in the Financial Account of the BOP of the State of Kuwait, the growth in the net value of assets owned by residents and invested abroad and recorded under that account accelerated during 2010, compared with the previous year. Specifically, the Financial Account recorded an increase of KD 9956 million in the net value of assets invested abroad during 2010, compared with KD 7600 million during 2009.

As a result of the above-mentioned developments, the overall surplus in the BOP of the State of Kuwait reached KD 159 million during 2010, compared with a surplus of KD 1088 million during 2009. When the overall position of the BOP of the State of Kuwait is considered from a broader perspective to encompass the change in the net value of external assets of some government institutions recorded under the "General Government" item, along with the change in total reserve assets of the CBK, the overall position of the Balance of Payments shows a surplus of KD 10519 million during 2010, compared with a surplus of KD 7550 million during the previous year.

• 05-may-2011-bop-ar