(MENAFN- Kuwait News Agency (KUNA)) Kuwait's exports were about KD 4 billion in January-March 2015, with a 46.0 percent decrease, and imports were KD 2.3 billion, with an 11.1 percent increase, compared with January-March 2014, according to Central Statistical Bureau.
In January-March 2015, balance of trade was KD 1.7 billion, while it was KD 5.4 billion in January-March 2014 with a 68.0 percent decrease, the bureau said in a statement to KUNA Tuesday.
In the same period, volume of trade decreased 33.6 percent compared with the first quarter of 2014. Trade of volume was KD 6.3 billion in January-March 2015, while it was KD 9.6 billion in January-March 2014, it said. Coverage rate was 174.7 percent in January-March 2015, while it was 359.6 percent in January-March 2014. It added. In the first quarter of 2015, Coverage rate (excluding oil) was 20.4 percent, while it was 22.6 percent in the first quarter of 2014.
For January-March 2015, the top categories for exports were "Mineral fuels and oils" (KD 3.6 billion) with share of 88.8 percent and then "Organic chemicals" (KD 102 million) 2.5 percent, "Vehicles other than railway or tramway rolling-stock and parts and accessories thereof" (KD 62.2 million) 1.5 percent, it showed. At the same period, "Vehicles other than railway or tramway rolling-stock, parts thereof" has by far the highest value imported at KD 346 million with share of 14.9 percent and then, "Electrical Machinery and Equipment" (KD 302.5 million) 13.0 percent, "Boilers, machinery and mechanical appliances, parts thereof" (KD 285 million KD) 12.2 percent, and "Natural or cultured pearls, precious and semi-precious stones" (KD 92 million KD) 3.9 percent, it noted.
In January-March 2015, the main partner country for non-oil exports was UAE with KD 68.4 million. For exports, UAE was followed by China (KD 62.6 million) and Saudi Arabia (KD 53.9 million), it stated.
The top country for Kuwait's imports was China (KD 402.5 million), records for imports range from United States of America (KD 229.4 million), UAE (KD about 200 million) and Japan (KD 153.1 million), pointed out.
As compared with the same quarter of the previous year, exports to the GCC countries were KD 168.9 million, increased by 20.3 percent, it said, adding the share of the GCC countries was 4.2 percent in January-March 2015, while it was also 1.9 percent in January-March 2014.
During the same period, 25.7 percent of imports products were industrial supplies. As compared with the same period of the previous year; food and beverage increased 4.5 percent, industrial supplies increased 9.4 percent, consumer goods increased 9.0 percent and capital goods increased 23 percent, it concluded.
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