Kuwait

Kuwait ranked No. 66 in total trade value through May with a total of $1.29 billion. Exports totaled $968.64 million and Imports totaled $318.52 million, a surplus of $650.12 million.

U.S. trade with Kuwait rose to $1.18 billion through May

Kuwait’s trade with the United States rose to $1.18 billion through the first five months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 35.06 percent below its total trade during the same time period last year. U.S. exports to Kuwait decreased 11.15 percent while U.S. imports from Kuwait fell 63.61 percent. The U.S. surplus with Kuwait was $578.63 million.

Through May, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Wilmington, Dela.; No. 2 Carquinez Strait, Calif.; No. 3 Port of Long Beach; No. 4 Port of Houston; and No. 5 Port of Jacksonville, Fla.. During the same period the previous year, the top five were No. 1 Port of Morgan City, La.; No. 2 Port of Long Beach; No. 3 Port of Wilmington, Dela.; No. 4 Port of Houston and No. 5 Port of Jacksonville, Fla.. In the current time period, the top five accounted for 43.7 percent of Kuwait’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Wilmington, Dela. fell 2.28 percent to $187.65 million.
    Exports fell 2.28 percent to $187.65 million. There were no imports.
  • Trade with No. 2 Carquinez Strait, Calif. rose 79.35 percent to $125.94 million.
    There were no exports. Imports rose 79.35 percent to $125.94 million.
  • Trade with No. 3 Port of Long Beach fell 54.77 percent to $101.63 million.
    Exports fell 23.76 percent to $6.78 million. Imports fell 56.05 percent to $94.85 million.
  • Trade with No. 4 Port of Houston fell 60.4 percent to $75.52 million.
    Exports fell 27.01 percent to $68.61 million. Imports fell 92.85 percent to $6.91 million.
  • Trade with No. 5 Port of Jacksonville, Fla. fell 51.56 percent to $71.76 million.
    Exports fell 51.64 percent to $71.65 million. Imports totaled $109,280.

Kuwait ranked No. 66 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 64.

Meanwhile, total U.S. trade with the world increased to $1.48 trillion, down 64.27 percent compared to the same period last year. The nation’s exports dropped 64.62 percent to $582.11 billion; imports dropped 64.04 percent to $898.44 billion. The nation’s top five countries so far this year, by value, are Canada; Mexico; China; Japan and Germany. The overall trade deficit was $316.33 billion, down compared to the same period of last year when the deficit was $853.23 billion.

The top five U.S. exports to Kuwait by value through May were the categories of Passenger vehicles; Cranes, derricks, industrial-use vehicles; Medical instrument parts; LNG, other petroleum gases; and Commercial vehicles, respectively. They accounted for 37.37 percent of total exports to Kuwait.

The value of the top five categories of U.S. imports from Kuwait –– Oil; Returned exports, without change; Gasoline, other fuels; Cyclic hydrocarbons; and Misc. chemical reaction initiators, accelerators –– accounted for 98.9 percent of all inbound shipments.

Looking more closely at U.S. exports to Kuwait:

  • Passenger vehicles fell 45.35 percent compared to last year to $124.55 million.
  • Cranes, derricks, industrial-use vehicles rose 176.88 percent compared to last year to $100.53 million.
  • Medical instrument parts rose 473.13 percent compared to last year to $71.63 million.
  • LNG, other petroleum gases rose 140.28 percent compared to last year to $33.23 million.
  • Commercial vehicles fell 62.11 percent compared to last year to $32.05 million.

Looking more closely at U.S. imports from Kuwait:

  • Oil fell 71.15 percent compared to last year to $220.79 million.
  • Returned exports, without change fell 45.56 percent compared to last year to $45.33 million.
  • Gasoline, other fuels fell 67.65 percent compared to last year to $22.77 million.
  • Cyclic hydrocarbons totaled $19.09 million. The previous year, there were no imports in this category.
  • Misc. chemical reaction initiators, accelerators rose 297.85 percent compared to last year to $7.05 million.

In the latest annual figures available, Kuwait recorded $4.59 billion in trade with the United States. Total U.S. exports to Kuwait were $ 3.17 billion and imports from Kuwait were $1.42 billion. The U.S. surplus with Kuwait was $1.76 billion.