Kuwait’s merchandise exports rank 47th in the world, fourth in the Gulf – ARAB TIMES

KUWAIT CITY, April 16: Kuwait’s merchandise exports increased from $40.1 billion in 2020 to $71.4 billion in 2021, ranking 47th in the world and fourth in the Gulf for total exports of goods, according to the latest data released by the World Trade Organization, reports Al-Rai daily citing World Trade Organization sources. Data from the World Trade Organization shows that the value of global exports of goods and services was $22.3 trillion in 2021.

Kuwait’s merchandise imports also increased from $27.7 billion in 2020 to $33.2 billion in 2021, ranking 66th in the world and third in the Gulf after the United Arab Emirates, which imported goods worth $319 billion and ranked 21st globally, and Saudi Arabia with a value of $155 billion and came 32nd globally, while Qatar imported goods from worth $27.9 billion. He ranks 68th in the world. In terms of Gulf countries ranking in total merchandise exports, the UAE ranked first in 2021 and 17th in the world after exporting $425 billion, followed by Saudi Arabia second with $258 billion. dollars to rank 18th in the world, followed by Qatar in third place with 86.7 billion and 41st globally.

While mining and petroleum products dominate Kuwait’s merchandise exports, the country’s commercial services exports up to the third quarter of 2021 (according to the latest data available to the WTO) amounted to $3 billion, while that the value of imports was $6.5 billion for the same period. In 2020, Kuwait’s total exports of commercial services such as information, communication, computing, travel, transportation and financial services amounted to $6.7 billion, while it imported $17.4 billion for the same period.