|07 November, 2019

Kuwait’s balance of payments records deficit in Q2

The balance on goods showed a decline in surplus

Mubasher: Preliminary data of the State of Kuwait’s Balance of Payments (BoP) for the second quarter (Q2) of 2019 showed turning to deficit, after recording surplus in the corresponding period in 2018, according to the Central Bank of Kuwait (CBK).

CBK data showed that BoP deficit in Q2-19 reached KWD 9.5 million ($31.4 million), against a surplus of KWD 961 million ($3.2 million) for the same period last year.

It is worth noting that in Q1-19, the BoP recorded a KWD 234.6 million surplus.

The balance on goods showed a decline in surplus to KWD 3.02 billion, down from KWD 3.79 billion in the same period last year.

Meanwhile, the secondary income account rose by 15.7% to KWD 1.4 billion, compared with KWD 1.21 billion in Q2-19.

Current account surplus increased by 11.8% to KWD 3.22 billion, up from KWD 2.88 billion in the same period a year ago.

Source: Mubasher

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