Kuwait - Balance of payments

Kuwait enjoys a highly favorable payments position because of its huge trade surpluses. The Kuwaiti dinar is completely covered by the country's reserve fund, 50% of which must be in gold.

The US Central Intelligence Agency (CIA) reports that in 2001 the purchasing power parity of Kuwait's exports was $16.2 billion while imports totaled $7.4 billion resulting in a trade surplus of $8.8 billion.

The International Monetary Fund (IMF) reports that in 2001 Kuwait had exports of goods totaling $16.2 billion and imports totaling $6.93 billion. The services credit totaled $1.79 billion and debit $5.34 billion. The following table summarizes Kuwait's balance of payments as reported by the IMF for 2001 in millions of US dollars.


Current Account 8,562
Balance on goods 9,238
Balance on services -3,551
Balance on income 4,956
Current transfers -2,081
Capital Account 2,931
Financial Account -6,036
Direct investment abroad -323
Direct investment in Kuwait -39
Portfolio investment assets -7,372
Portfolio investment liabilities -78
Other investment assets 430
Other investment liabilities 1,347
Net Errors and Omissions -2,553
Reserves and Related Items -2,905

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