Kuwait’s imports from China decline 13% in two months

China is Kuwait’s main trade partner, accounting for 40% of total oil exports

  
Image used for illustrative purpose. Containers are seen at the Yangshan Deep Water Port in Shanghai, China August 6, 2019.

Image used for illustrative purpose. Containers are seen at the Yangshan Deep Water Port in Shanghai, China August 6, 2019.

REUTERS/Aly Song

Kuwait’s imports from China slid by 12.93% on an annual basis over January and February 2020, pressured by risks associated with the outbreak of the coronavirus (COVID-19) in the two countries.

Imports for the two-month period stood at KWD 253.81 million ($817.3 million), down from KWD 291.49 million ($938.7 million) in the corresponding months in 2019, according to data by the Kuwaiti Central Statistical Bureau (CSB).

Accordingly, China’s share from Kuwait’s imports dipped to 16.9%, compared to 18% in the same period a year earlier.

In February 2020, imports registered KWD 110.81 million when compared to KWD 137.19 million, posting a 19.2% annual decrease.

As part of China’s efforts to combat the spread of the pandemic, several manufacturers had to shut down.

Generally, Kuwait’s imports witnessed a 7.4% annual drop at KWD 1.50 billion over January and February of the year, compared to KWD 1.62 billion.

It is worth noting that China is Kuwait’s main trade partner, accounting for 40% of total oil exports.

Source: Mubasher

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