Kuwait’s non-oil exports rose by 10% in October

Kuwait’s non-oil exports increased by 10 per cent a year-on-year in October 2017, the Kuwaiti Ministry of Commerce and Industry revealed today.

According to the ministry’s official monthly report, the Kuwaiti exports reached KD13 million ($43 million) in October compared to KD11.8 million ($39.1 million) during the same month in last year.

On a monthly basis, exports grew by 75 per cent last month, compared to KD7.4 million ($ 24.5 million) in September, the ministry added.

Fifty-eight per cent of the Kuwaiti products, which amounts to KD 7.5 million ($24.8 million), were exported to Arab countries. The other countries around the world received 42 per cent of the Kuwaiti exports, which amounts to KD5.5 million ($18.8 million).

Kuwait’s state-run oil industry amounts to over 50 per cent of the country’s total Gross Domestic Product (GDP), 95 per cent of its exports, and 80 per cent of the government’s total revenue.

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