Kuwait oil and non-oil revenues on the rise
Kuwait oil and non-oil revenues rose in the first quarter of the year, hitting KD 2.55 billion, a 35 percent increase compared to the same period last year, a Central Bank of Kuwait (CBK) bulletin said Tuesday. According the CBK bulletin, total revenues in the first quarter of 2005 nearly matched those of the same period in 1998 which reached KD 2.9 billion, due to the skyrocketing oil prices.
Furthermore, the Kuwaiti imports for the same period reached KD 850 million with a small 3.1 percent rise over the same period last year.
The bulletin noted that Kuwait's oil revenues amounted to KD2.4 billion, representing 94.11 percent of the total of all the country's exports. Moreover, non-oil revenues stood at KD 164 million, increasing 11.7 percent on last year's revenues for the same period of the year. (KD1=US$ 3.42).