Marketing in Kuwait Market
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Kuwait does not have a large volume of non-oil exports. Most of the country's exports are based on exports of oil and fossil fuels. Most of Kuwait's exports go to countries such as India, the United Arab Emirates, Iraq, Pakistan, Oman, and China.
According to the latest global data, Kuwait exported $ 66 billion worth of goods to various countries in 2018, which is a jump of about 20% compared to the previous year.
This year, oil and fossil fuels account for about 92 percent of Kuwait's exports. Organic chemicals, fertilizers, plastics, minerals, aluminum, and precious stones are each next with a small percentage. These figures show that oil and fossil fuels are the mainstays of Kuwait's economy and that the country needs to import many goods.
Which countries import the most Kuwait?
Because the Persian Gulf economy is a single product, it meets many of its needs, including products and foodstuffs, through imports. Statistics show that China and the United States are Kuwait's main partners in the import debate. Among Kuwait's neighbors, Saudi arabia and the United arab emirates also export a significant portion of their goods to Kuwait.
Meanwhile, the emptiness of Iranian goods in Kuwait is quite felt. The map below shows Kuwait's main partners in the import debate. World Trade Organization (WTO) data for 2018 show that Iran does not have a large share of Kuwait's imports.
According to the same data, among the imported goods of Kuwait, the names of some goods are more prominent, which indicates the import needs of Kuwait. In the following, we will refer to the main import groups of this country.
What are the most important imported items of Kuwait?
Kuwait imports goods in many fields. However, this list may change slightly over the years. But on average, some products are often part of Kuwait's regular import needs.
Iranian traders can meet many of Kuwait's import needs.
Other import needs of Kuwait include plastic products, medical equipment, construction materials, and many other products. However, usually, each country exports certain goods to Kuwait.
The United States, for example, plays a major role in supplying food to Kuwait. While other countries may focus more on exporting other products to this Persian Gulf country.
What are the statistics of Iran's exports to Kuwait?
Statistics show that in recent years, the amount of Iranian goods exported to Kuwait has always fluctuated slightly. But this statistic has suddenly jumped significantly in 2018.
This year, $ 358 million worth of goods were exported from Iran to Kuwait. Although this amount of goods is not much compared to the total imports of Kuwait from other countries, it shows a very significant growth compared to previous years. In 2017, the export of Iranian goods to Kuwait was less than $ 200 million. The chart below shows the number of Iranian goods exported to Kuwait in recent years.
In 2018, Iran exported more than $ 350 million worth of goods to Kuwait. The chart above shows that there have been two significant jumps in the export of Iranian goods to Kuwait, the first being in 2013 and the second in 2018. It should be noted that statistics for 2009 and 2012 were not available.