KUWAIT

 

Kuwait Trade Surplus Jumps On Oil Price Climb

After staying flat over the previous three quarters Kuwait’s trade surplus soared in 1Q12 to a record high of KD7.3bn ($26bn), which is equivalent to about 15% of forecast 2012 GDP. The surplus climbed KD1.5bn ($5.4bn) from the previous quarter and was up by KD2.6bn ($9.3bn) on 1Q11 levels. The surge came almost entirely from an increase in oil export revenues, which reached an all-time high of...