The Kuwaiti Exports To China Increased To $495.46 Million In February

Official data released by the Chinese government highlights Kuwait's trade performance with China in February, depicting a notable dip in exports, placing Kuwait fifth among Gulf nations. Kuwait's exports to China amounted to approximately $495.46 million, reflecting a significant decline of 54% compared to the previous year's figure of $1.069 billion.

Conversely, Kuwait recorded an increase in imports from China, totaling around $292.94 million in February, compared to $159.12 million in the corresponding period of 2023.

At the Gulf Cooperation Council (GCC) level, data indicated an 8.14% decrease in Gulf exports to China during February, totaling $12.17 billion, down from $13.25 billion in 2023. Imports from China to Gulf countries reached approximately $8.58 billion, up from $6.53 billion in the preceding year.

The trade surplus between the Gulf countries and China stood at $3.59 billion in favor of the Gulf countries, showing a decrease from $6.72 billion in February 2023.

Among GCC nations, Saudi Arabia accounted for the largest share of exports to China, followed by the UAE, Oman, Qatar, and Bahrain. Saudi Arabia's exports in February 2024 amounted to approximately $4.856 billion, while the UAE experienced a decline of 3.03% in exports. Oman's exports decreased by 22.30%, Qatar saw a 3.9% decrease, and Bahrain's exports suffered an 89% decline.

China's overall exports decreased by 3% in February 2024, totaling $220.28 billion, while America's imports declined to $180.57 billion in the same period.

Over the past year, exports from GCC countries to China contracted by 17%, amounting to $173.19 billion, down from $209.01 billion in 2022.

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