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Middle East market shows growth: Kuwait an important player in the region

The Kingdom of Saudi Arabia and the UAE topped the list of 10 countries to which Kuwaiti goods were exported, and that 50% of goods imports to Kuwait came from 5 countries — China, the UAE, the US, India and Saudi Arabia, accounting for 1.2 billion dinars in the first 3 months of the year that is out of 2.383 billion dinars in total commodity imports, reports Al-Anba daily.

According to the data issued recently, the daily said, it is crystal China alone takes the lion’s share, as it alone provides 20% of the imports of goods to the country, with a value of nearly half a billion dinars. The Central Administration of Statistics, Saudi Arabia ranked first with Kuwaiti exports amounting to 64.14 million dinars during the first quarter of 2022, an increase of 13% over the same period of 2021, in which exports amounted to 56.84 million dinars.

Export volume

The UAE came second with an export volume of 60.22 million dinars, while it witnessed only a slight increase compared to the same period in 2021, and India came third with 58.2 million dinars at the end of the first quarter of 2022, an increase of 22.6% compared to 47.49 million dinars for the same period in 2021. Pakistan ranked fourth in terms of the highest destinations to which Kuwait exports, as it acquired 42 million dinars of exports, an increase of 217.5 percent compared to the first quarter of 2021, while China ranked fifth with exports amounting to 37.6 million dinars, then Iraq came sixth with 31.77 million dinars, followed by Qatar seventh with 24.5 million dinars, then Turkey ranked eighth with 13.96 million dinars, an increase of 408%, the Sultanate of Oman ninth with 12.16 million dinars, and Egypt ranked tenth with 10.83 million dinars, an increase of 224.6%.

In terms of imports, China tops the list of countries supplying goods to Kuwait, as it imported goods worth 465 million dinars during the first 3 months of 2022, an increase of 10.4% over the same period of 2021, and the UAE came second with commodity imports estimated at 578 million dinars, down by 22% during the same period, while US imports came third, which increased from 1.55 to 209.2 million dinars, India came fourth with 134.7 million dinars, Saudi Arabia came fifth with 123.76 million dinars, Japan came sixth with 110.5 million dinars, while Germany came seventh with 97.19 million dinars Italy ranked eighth with 97.2 million dinars, while Turkey ranked ninth with 58.35 million dinars, and France ranked tenth with 55.3 million dinars.

It is noteworthy that Kuwait’s commodity exports during the first quarter of 2022 witnessed a large and noticeable boom, as its value increased by about 75%, amounting to 3 billion dinars, to record 7.2 billion dinars, driven by the price boom, with direct stimulation from Kuwait’s oil exports, and non-oil exports rose to 424.6 million dinars by the end of the year compared to 336.6 million for the same period in 2021. As for imports, there was a relative increase in the amount of imported goods, while the cost of importing those goods into the country decreased.

Kuwait imported cigarettes and shisha worth about 15 million dinars in 3 months, as the classification for tobacco included importing products worth 14.79 million dinars during the period from January to the end of March 2022, compared to exporting products with 143 thousand dinars for different types same during the same period. The data showed that Kuwait imported live animals and meat worth about 83 million dinars, including live animals worth 18.57 million dinars in 3 months, while animals of the same classification were exported worth 1.14 million dinars during the same period, and Kuwait imported meat and its preparations worth 64.32 million dinars, while it exported from the same type worth 5.58 million dinars. Kuwait imported dairy products, bird eggs and fish worth about 58 million dinars in 3 months, as the volume of the country’s imports of dairy products and bird eggs reached about 40.1 million dinars, while fish and its preparations amounted to 17.75 million dinars, while Kuwait’s total exports amounted to about 9.3 million dinars during same period, The data revealed that Kuwait bought fruits and vegetables from abroad worth 74 million dinars during the first 3 months of 2022, while it exported the same types with a value of 3.12 million dinars, while it imported coffee, tea, cocoa and spices worth 28.4 million dinars, compared to exports amounting to 1.66 million dinars.

Kuwait imported clothes and shoes worth 157 million dinars in 3 months, as the country’s imports of clothing and accessories amounted to 125.56 million dinars in the period from January to the end of March 2022, while the value of its imports of shoes amounted to 31.56 million dinars, and exports of the same items were recorded at a value of about 5.8 million dinars. Kuwait imported perfumes and cosmetics worth 67 million dinars in 3 months, as Kuwait’s imports of essential oils, resins, perfumes, decorating, polishing and cleaning products amounted to about 66.84 million dinars from January to the end of March 2022, while Kuwait’s exports of the same items amounted to 12.6 million dinars.

Easyfresh Kuwait can help you with transportation of perishables to/from Kuwait and all over the world. Please contact sales.kuwait@easyfresh-logistics.com

Source; https://www.arabtimesonline.com/

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8-10 FEBRUARY  2023