Kuwait’s trade surplus for 2024 reached KD 11.6 billion, with total trade exchange amounting to KD 34.99 billion, according to the latest foreign trade data. The country’s exports stood at KD 23.3 billion, while imports totaled KD 11.68 billion.
Oil exports were the key contributor, generating around KD 21.12 billion in revenue, accounting for 90.6% of Kuwait’s total exports. Non-oil exports saw a 17% rise, and re-export values surged by 47%.
However, despite strong oil export performance, the trade surplus decreased by 18.4%, from KD 14.23 billion in 2023 to KD 11.6 billion in 2024. Total trade exchange also dropped by 5.8%, down from KD 37.13 billion in 2023.
Kuwait’s imports increased by 2.1% in 2024, reaching KD 11.68 billion, compared to KD 11.44 billion the previous year. Meanwhile, total exports of national origin fell by 10.6% to KD 22.43 billion, reflecting a reduction in oil and derivatives revenue, which dropped 11.8% to KD 21.12 billion.
On a positive note, non-oil exports rose by 17%, reaching KD 1.31 billion, and the value of re-exports saw a significant boost of 47%, climbing to KD 868.17 million.
