KUWAIT - Kuwait’s current account surplus reached KD10.6 billion, or 29 percent of GDP, up from KD2.6 billion in 2001, the National Bank of Kuwait said Saturday.
It said the current account surplus is the sum of the balance of trade in goods and services, investment income and transfers received from abroad.
The rise in the surplus over time has been closely linked to the steady climb in global oil prices. Almost all of the increase in the surplus has come from oil exports, reflecting the rise in the price of Kuwaiti export crude from $21 per barrel (pb) in 2001 to $76 pb in 2010. – Kuna