CBK Issues Balance Of Payments Report For The First Quarter Of 2018
Category: Business
Immigrate to Canada or Australia
Study In Abroad

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.



20 Jul, 2018 0 1170
Posted Comments
Popular News
Public Holidays In Kuwait 2020 Public Holidays in Kuwait 2020 Jan 1st    Wednesday    New Year Feb 25th    Tuesday    Kuwait National Day Feb 26th   &nb... December 04, 2019 1 20114 Category: Holidays in Kuwait
Kuwait To Close Sheikh Saad Terminal Kuwait International Airport's Sheikh Saad Terminal 3 (T3) will be closed for construction of a new passenger terminal (T2) starting in January, the country's Civil Aviation Authority said on ... December 04, 2019 1 7937 Category: Kuwait
Strike Of The Hospitality Workers - Demanding Salaries The Public Authority for Manpower (PAM) has been following up the strike of the hospitality workers of a company which signed a contract with the Ministry of Education, says Al-Seyassah. After inqu... December 03, 2019 0 5505 Category: Kuwait
Driving License Issue With Diploma And University Degree I worked in the ministry for the last 12 years and hold a driving licence issued in 2016, recently I joined a private company and my salary is KD 1,400. I hold a diploma and a university degree, the i... December 04, 2019 1 3596 Category: Driving License
India Rape and Murder Case - All 4 accused were shot dead at the same spot where they had dumped victims body The accused allegedly snatched weapons from the police and tried to escape. A week after the brutal gang rape and murder of a young veterinarian in Hyderabad, police shot dead all the four accused ... December 06, 2019 0 2381 Category: India
Salary Gap Between Nationalities In The GCC Revealed There’s been rumours for a while, but now a new survey has confirmed that the wage you command depends not only on your experience, but also your nationality. The GCC  Salary Survey, con... December 03, 2019 0 2259 Category: International
Transferring Visa Before 1 Year I had been working in Kuwait for 2 years, but when my residence expired I wasn’t able to renew it, after that I went back to my home country and my previous employer give me visa. I want to know... December 03, 2019 0 1645 Category: Legal
Sex Maniac Who Committed Horrific Crimes Finally Arrested In India A 38-year-old man, known to be a sex maniac and a necrophile, has been arrested for the murder of a couple and their child in Uttar Pradesh's Azamgarh. A week ago, a couple and their infant son... December 03, 2019 0 1380 Category: India
Saudi Royal Court Announces Death Of Prince Miteb, Brother To King Salman Bin Abdul Aziz Saudi Arabia’s Royal Court has announced the death of Prince Miteb Bin Abdul Aziz, who passed away on Monday. In a statement carried by the Saudi Press Agency (SPA), the funeral prayers will ... December 02, 2019 0 1262 Category: International
Kuwaiti girl arrested who had allegedly eloped with boyfriend Personnel from the Criminal Investigation Department (CID) have arrested an unidentified young Kuwaiti girl who had allegedly eloped from her home with her ‘boyfriend’ and had been absent ... December 02, 2019 0 1052 Category: Crime News
View All
Popular Offers
xcite-electronics-super-sale-deals in kuwait
Xcite Electronics Su...
the-sultan-center-big-brands-big-savings in kuwait
The Sultan Center Bi...
lulu-hypermarket-offers in kuwait
Lulu Hypermarket Off...
festive-season-offers-have-begun in kuwait
Festive Season Offer...
halwa-bazaar-at-nesto-hypermarket in kuwait
Halwa Bazaar At Nest...
Popular Events
07 Dec, 2019
Category : Entertainment
07 Dec, 2019
Category : Entertainment
24 Dec, 2019
Category : Food & Drink
07 Dec, 2019
Category : Other
30 Jan, 2020
Category : Entertainment
Visit Visa
Visit Visa
Dependent Visa Driving License Project Visa Termination
Civil ID Crime News