Latest News
- Payscale Alternative Discussed; No New Amendments Made
- Women Demand More Gold Jewelry During Ramadan
- Gulf Countries Struggle With Obesity
- Two Saudis Injured In A Kuwait Traffic Accident
- Kuwaiti Found Dead In Central Prison
- 41-year-old Domestic Worker Commits Suicide
- Kuwait To Deport Violating Visitors
- Ramadan Inspection Campaign Uncovered 10 Violations
- Court Acquits Defendants In US Army Vehicle, Radar And Special B...
- One Dead After Vehicle Plunges Into Sea Along Gulf Street
- Amnesty Call Received Lukewarm Response On Day One
- Monday Afternoon Will Likely Be Rainy With Thunderstorms
Cbk Issues Balance Of Payments Report For The First Quarter Of 2018
The Central Bank of Kuwait (CBK) published Thursday the preliminary data of the Balance of Payments (BoP) of the State of Kuwait for the first quarter of 2018 and the revised data of the fourth quarter of 2017.
The Data show that the Current Account surplus (summing up receipts and payments between domestic economy and other economies in terms of goods, services and income) recorded a surplus of KD 1.6 million during the first quarter of 2018 against a surplus of KD 1.158 million during the previous quarter, representing a hike of KD 521.8 million, ie 45.1 percent.
The upturn in the current account surplus is due to the appreciation in the surplus of balance on goods and the depreciation in the surplus of primary income on one hand, and the increase in both services account deficit and secondary income deficit on the other.
The surplus in the current account mainly reflects a surge in the surplus of the balance on goods (merchandise exports minus merchandise imports) to KD 3.3 million during the first quarter of 2018, compared to KD 2.2 million during the previous quarter. Furthermore, deficit in the Services Account (net value of services transactions between residents and nonresidents, the most important of which are transportation, travel, communications and construction) increased by KD 294.8 million or 17.8 percent to KD 1.9 million during the first quarter of 2018, compared to a deficit of KD 1.6 million during the previous quarter.
As for the developments in the Financial Account (that records transactions involving transfers of financial assets and liabilities between residents and non residents) of the State of Kuwait’s BoP during the first quarter of 2018, the net value of residents’ external assets included in the Financial Account grew at a better pace by KD 1.4 million against a growth of KD 4 million during the previous quarter, i.e. a surge of KD 2.5 million or 63.8 percent.
As a result of the developments in the main BoP accounts, the overall position of Kuwait’s BoP recorded a surplus of KD 471 million during the first quarter of 2018 against a surplus of KD 415 million during the previous quarter.
Â
SOURCE : ARABTIMES
Trending News
-
Kuwaiti Banks Announces Ramadan Working Hours
06 March 2024
-
What Is The Future Of Expats In Kuwait ?
10 March 2024
-
Six Countries Have Announced The First Day Of Rama...
10 March 2024
-
India Is On The Verge Of Becoming A Semiconductor...
07 March 2024
-
Seismic Network Dismisses Earthquake Reports In Ku...
05 March 2024
-
Ramadan Crescent Will Not Be Visible In Kuwait
07 March 2024
-
Ramadan Begins From Monday In Kuwait After The Cr...
10 March 2024
-
MOI Relents On Granting Visit Visa To 'certain' Na...
09 March 2024
-
Student Run Over And Dies Instantly
04 March 2024
-
Arrest Warrant Against Expat Father Who Flees Kuwa...
04 March 2024
Comments Post Comment