Kuwait’s Q2-23 trade deficit with GCC shrinks to lowest level since Q1-22

Kuwait’s trade deficit with the GCC countries dropped in the second quarter (Q2) of 2023 to its lowest level since Q1-22 when it recorded KWD 262.30 million, driven by higher exports and lower imports.

Kuwait registered a trade deficit of KWD 281.80 million with the GCC member states in Q2-23, compared to KWD 472.30 million in Q2-22.

On a quarterly basis, the trade deficit in Q2-23 also narrowed from KWD 302.10 million in Q1-23, according to the quarterly statistics issued by the Central Bank of Kuwait (CBK).

The decline in the deficit was…