- Imports surge as oil sales drop
- Lower crude prices bite
- Higher project activity boosts goods from abroad
Kuwait’s trade surplus dived nearly 29 percent in the first nine months of 2025 following a surge in imports and a decline in oil sales.
The surplus lost about $8 billion year on year as the Opec member country logged higher project activity that led to increased purchases of goods from abroad, the national statistics office said in a report carried by local media.
Despite slightly higher crude output, Kuwait’s oil export earnings plunged under the impact of lower crude prices, which lost nearly 15 percent to an average of $64 a barrel in the first nine months of 2025 from $75 a year earlier.
The trade surplus stood at around KD6.6 billion ($22 billion) in the nine-month period against KD9.2 billion a year before, the statistics office said.
Imports surged around 12.5 percent to KD9.5 billion, while exports declined about 8 percent to nearly KD16.2 billion.
Crude sales shrank by 12 percent to nearly KD14.2 billion.
Despite years of effort to diversify its economy, oil still provides more than two-thirds of Kuwait’s income. This has made the budget and trade balance heavily reliant on crude production and prices.
In 2022, when oil shot above $100 a barrel, Kuwait’s crude exports surged to an all-time high around KD28.78 billion.
The surge lifted the emirate’s trade surplus to a record of around KD19.74 billion, the trade and industry ministry said.
Further reading:
- Kuwait to reopen tenders for public-private developments
- Kuwait oil production costs up more than 1,200% since 2000
- Kuwait invites consultancy bids for first postal service
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