KUWAIT: Kuwait's exports last March amounted to KD 125.1 million (USD 413 million) against KD 11.6 million (USD 38 million) in the same month of the past year, the Ministry of Commerce and Industry said in a press release yesterday. The value of Kuwaiti exports to Arab States, minus GCC countries, reached KD 115.5 million (USD 381 million) in March against KD 7.5 million (USD 24.7 million) of the same month in 2018.

Arab countries that have imported the Kuwaiti products are Egypt, Iraq, Jordan, Lebanon, Yemen, Morocco, Tunisia, Algeria, Palestine, Syria, Sudan and Libya. Egypt topped these countries in terms of largest volume of Kuwaiti imports, valued at KD 110 million (USD 363 million), higher than the past year by 80.25 percent, followed by the United Arab Emirates (UAE), at KD 2.1 million (USD seven million), then Italy at KD 2.1 million (USD seven million), rising by 120 percent compared to March 2018. Qatar came fourth, KD 1.8 million (USD 5.9 million).

Jordan ranked sixth with KD 1.4 million (USD 4.6 million), higher by 15.8 percent compared to the same month last year, followed by Belgium, with KD 922,000 (USD three million). Lebanon came eighth, KD 774,000 (USD 2.5 million), with a 27.7 percent increase, followed by Yemen with KD 683,000 (USD 2.2 million), then Spain with KD 533,000 (USD 1.8 million), falling by two percent.

Meanwhile, Kuwait's stock exchange looks set to secure foreign investment worth USD 2.5 billion after it improved its ranking in the MSCI Emerging Markets Index, Kuwait National Investment Company said yesterday. This is likely to trigger an enticing business environment in the country, besides gaining the trust of investors and ensuring better governance and transparency, according to a report issued by the company. Kuwait bourse's promotion will also allow the local stock exchange to focus on priorities including shareholder returns and introducing new tools to the stock market, it added. Kuwait stock exchange's promotion on the FTSE 100 index is "tentative at this point," pending confirmation in June, the report indicated.