Data from the Ministry of Commerce and Industry indicates a significant decrease in the total value of Kuwaiti non-oil exports by 29.6%, amounting to 106.9 million dinars. This decline is observed from 361.3 million dinars in the first 11 months of 2022 to 254.4 million dinars in the same period of 2023. The number of certificates of origin for these exports also witnessed a decrease, falling by about 18.2% from 26,309 thousand certificates in the 11 months of 2022 to 21,517 thousand certificates in the corresponding period of 2023.

Kuwait exports its non-oil industrial products to six groups, including Gulf Cooperation Council countries, Arab countries, European continent countries, African continent countries, Asian continent and Australia countries, and American continent countries. The export data showed fluctuations throughout 2023. Exports decreased from 2.2 thousand certificates worth 21.78 million dinars in January to 2.1 thousand certificates worth 17.89 million dinars in February.

They rose in March to 2.48 thousand certificates worth 28.8 million dinars, followed by a decline in April to 1.65 thousand certificates worth 27 million dinars. Non-oil exports continued to fluctuate in subsequent months, reaching the lowest point in June with 1.6 thousand certificates worth 18 million dinars and the highest point in August with 2.012 thousand certificates worth 31.1 million dinars. The data also indicates a drop in September to 1.7 thousand certificates worth 17.9 million dinars, a rise in October to 2.04 thousand certificates worth 25 million dinars, and a subsequent fall in November to 1.76 thousand certificates worth 21.08 million dinars.

Overall, Kuwait’s total exports, including oil and non-oil, during the first nine months of 2023 decreased by 18.7% to a value of 4.4 billion dinars. This decline is from 23.82 billion dinars in the first nine months of 2022 to 19.35 billion dinars in the same period of 2023. The data further reveals an increase in re-exported products by 25.7%, reaching about one billion dinars. Regarding imports, Kuwait experienced a 7.5% increase in the first nine months of 2023, amounting to 602.4 million dinars. This is a rise from 8.04 billion dinars in the same period of 2022 to 8.643 billion dinars in 2023. Consequently, the Kuwaiti trade balance surplus declined from 15.78 billion dinars in the first nine months of 2022 to 10.716 billion dinars in the same period of 2023.

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