KUWAIT CITY, July 14: Kuwait’s non-oil exports experienced a remarkable 8% increase during the first five months of 2024 compared to the same period in 2023. Total exports reached approximately 227 million dinars, up 10 million dinars from 217 million dinars in the same period last year. The exports were distributed across various regions: Gulf Cooperation Council (GCC) Countries: Exports to GCC countries amounted to 85 million dinars, a 5% increase over the same period in 2023.

Arab Countries: Exports to Arab countries totaled 36 million dinars, a substantial 33% increase. European Countries: Exports to European countries reached 4.3 million dinars, a 37% jump. African Countries: Exports to African countries more than doubled, increasing by 63% to 523 thousand dinars. Asian and Australian Continents: Exports to these regions surged by 40% to 221 million dinars. Two American Continents: Exports to the Americas increased by 61% to 592 thousand dinars. Monthly export figures also showed strong growth, except April, which saw a 30% decline compared to the same month in 2023. The other months recorded the following increases:

January 2024: 4% increase to 23 million dinars
February 2024: 14% increase to 21 million dinars
March 2024: 27.5% increase to 40 million dinars
May 2024: 12.5% increase to 24 million dinars

The significant growth in Kuwait’s non-oil exports across various regions highlights the country’s efforts to diversify its economy and reduce its reliance on oil revenues. The data suggests that Kuwait’s strategic trade initiatives and increased global demand for its products have contributed to this positive trend

By Marwa Al-Bahrawi
Al-Seyassah/Arab Times Staff