LOC18:41
15:41 GMT
KUWAIT, Feb 21 (KUNA) -- Kuwait's exports hit KD 4,636 million (USD 15.2 million) in the fourth quarter of 2017, marking a rise of 12.8 percent compared with the corresponding period in 2016, the Central Statistical Bureau (CSB) said in a Q4 report on Wednesday.
Imports reached KD 2,698 million (USD 8.6 million) in the period October-December 2017, up 12.1 percent year-on-year, the CSB added in its latest report.
According to the CSB, the Q4 2017, balance of trade hit KD 1,938 million (USD 6.3 million), a rise of 13.9 percent compared with KD 1,701 million (USD 5.6 million) in October-December 2016.
Volume of trade increased by 12.6 percent to hit KD 7,334 million (USD about 24 million) compared with KD 6,515 million (USD 21.4 million) the fourth quarter of 2016.
Coverage rate was 171.8 percent in the last three months of 2017, while it was 170.7 percent in same period in 2016.
During Q4 2017, coverage rate (excluding oil) was 15.5 percent, while it was 15.9 percent the last quarter of 2016.
The CSB report noted that for the October-December 2017, the top categories for exports were "Mineral fuels and oils" KD 4,218 million (USD 13.8 million), about 91 percent, followed by "Organic chemicals" KD 88.9 million (USD 293 million), 1.9 percent.
As for imports during the last three months of 2017, "Machinery and Mechanical Appliances; Parts Thereof" has by far the highest value at KD 407.7 million (USD 1.3 billion), with a share of 15.1 percent, then the "Electrical Machinery and Equipment and Parts Thereof; Sound Recorders and Reproducers, Television Image and Sound Recorders and Reproducers, and Parts and Accessories of Such Articles," KD 349.8 million (USD 1.2 billion), 13 percent.
Kuwait's main partner country for non-oil exports during the Q4 2017 was Saudi Arabia with KD 54.2 million (USD 178 million, followed by Qatar then India.
The top country for Kuwait's imports was China, KD 452.4 million (USD 1.5 billion).
According to the report, exports to the GCC countries in Q4 2017 hit KD 177 million (USD 484 million), marking a rise of 38.9 percent
The Share of the GCC of Kuwait's total exports in October-December 2017 was 3.8 percent, 3.1 percent the same period 2016. (end)
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