Kuwait - Balance of Goods

Kuwait: Balance of Goods

Mnemonic TRBG.IKWT
Unit Mil. KWD, NSA
Adjustments Not Seasonally Adjusted
Quarterly 93.38 %
Data 2021 Q1 1,620
2020 Q4 838.1

Series Information

Source Central Bank of Kuwait
Release Foreign Trade
Frequency Quarterly
Start Date 3/31/1994
End Date 3/31/2021

Kuwait: Trade

Reference Last Previous Units Frequency
Balance of Goods 2021 Q1 1,620 838.1 Mil. KWD, NSA Quarterly
Exports of Goods 2021 Q1 4,091 3,152 Mil. KWD, NSA Quarterly
Imports of Goods 2021 Q1 2,471 2,314 Mil. KWD, NSA Quarterly
Current Account Balance 2019 6,722 6,008 Mil. KWD, NSA Annual
Exports of Goods and Services 2019 22,036 23,993 Mil. KWD Annual
Imports of Goods and Services 2019 18,561 19,037 Mil. KWD Annual
Real Exports of Goods and Services 2019 22,905 25,464 Mil. 2010 KWD Annual
Real Imports of Goods and Services 2019 14,355 16,025 Mil. 2010 KWD Annual
Net Exports 2017 843.3 -295.3 Mil. KWD Annual
Real Net Exports 2017 9,854 12,384 Mil. 2010 KWD Annual

Release Information

These trade series are quarterly and cover exports (total, non-oil vs oil), imports (total), and trade balance.  The data are not seasonally adjusted.

Data on merchandise trade are compiled by the Central Bank of Kuwait (CBK) and the Central Statistical Office (CSO), which is part of the Ministry of Planning. Data on exports of crude oil and oil products are provided by the Ministry of Oil (MO) to the CBK. MO data provided to the CBK show quantity shipped by type of product and the average free on board (f.o.b.). price for each product. These data are used by the CBK to estimate the value of exports for each month. Data on f.o.b. exports and imports, including nonmonetary gold, valued on a cost, insurance, and freight (c.i.f.) basis are provided by the CSO and are based on customs returns. The c.i.f. imports are adjusted to the f.o.b. basis by deducting 15 percent for the cost of freight (14 percent) and insurance (1 percent). The CBK further adjusts import and export data for goods not included in customs-based statistics; these adjustments include goods procured in ports (bunkers, stores and provisions), repairs of equipment, and exports and imports of new or used aircraft and vessels.

The Central Statistical Office (CSO) applied the Harmonized System for the classification of commodities in Foreign Trade Statistics, beginning with year 2000 data, in replacement of the Standard International Trade Classification (SITC). The adoption of the Harmonized System is in keeping with the recommendations of the UN Statistics Division.