Press Releases
Key Developments in the Balance of Payments of the State of Kuwait for the Fourth Quarter of 2020
The Central Bank of Kuwait (CBK) published today the preliminary data of the State of Kuwait’s Balance of Payments (BoP) for 4Q 2020, and the revised data of 3Q 2020. The data revealed a surplus during 4Q 2020 of KD 3,546.4 million in the Current Account (that sums up receipts and payments on transactions between the domestic economy and other economies in terms of goods, services and income) against a surplus of KD 2,354.9 million during the previous quarter, i.e. an increase by 50.6% equivalent to KD 1,191.5 million. This upturn is mainly attributable to the rise in the total value of receipts on the credit side of the Current Account by KD 1,251.0 million or 16.7% compared with the previous quarter, and the increase in the total value of payments on the debit side of the Current Account by KD 59.5 million or 1.2% compared with the previous quarter.
Furthermore, preliminary data indicated a decline in the surplus of the Balance on Goods by KD 143.7 million or 11.4% to reach KD 1,113.4 million during 4Q 2020, against KD 1,257.1 million during the previous quarter.
