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Kuwait's trade balance surplus hits KWD4.7bn
(MENAFN) Kuwait's trade balance surplus reached KWD4.7bn in 2016, its lowest level in eleven years, as announced the National Bank of Kuwait (NBK).
Furthermore, the surplus showed almost 14 percent of the country's national production (GDP) in the cited year.
However, the fall came due to lower oil export incomes given the drop in oil prices, but an increase in imports amid this year is projected in accordance with recovery of oil prices.
In addition, oil exports profits last year declined by 14.1 percent, the lowest level in more than 10 years to KWD12.5bn, as non-oil exports revenues fell by 17 percent.
Furthermore, the surplus showed almost 14 percent of the country's national production (GDP) in the cited year.
However, the fall came due to lower oil export incomes given the drop in oil prices, but an increase in imports amid this year is projected in accordance with recovery of oil prices.
In addition, oil exports profits last year declined by 14.1 percent, the lowest level in more than 10 years to KWD12.5bn, as non-oil exports revenues fell by 17 percent.
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