The Central Bank of Kuwait revealed that Kuwait’s balance of payments recorded a surplus of 821.2 million dinars ($ 2.7 billion) in 2019 compared to a surplus of 1.1 billion dinars, or $ 3.6 billion, in 2018.
The data of the Central Bank of the balance of payments for the year 2019 and the adjusted data for the year 2018 showed that the local current account achieved a surplus of 6.7 billion dinars in 2019, compared to 6 billion dinars in 2018, representing an increase of 11.9%.
According to the Central Bank, the increase in the surplus of the commercial account between the years 2018 and 2019 amounted to 714.5 million dinars, while the financial account of the balance of payments showed a record of net financial flows abroad of 7.4 billion dinars, compared to 6.6 billion dinars in 2018.
The Central Bank stated that when looking more fully to the balance of payments situation (i.e. taking into account the change in the net value of external assets of some entities registered under the general government item in addition to the change in the total reserve assets of the central bank), the overall status of the balance of payments show a surplus of 3.7 billion dinars more than the past year, compared to 7.8 billion dinars in 2018.
Source (Al-Rai newspaper-Kuwait, Edited)
