What are the goods exported to Kuwait?‎

MARKET OF KUWAIT

The ‎sale of crude oil accounts for 90% of GDP and 75% of the government budget

Marketing in Kuwait Market

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In which field do you want to trade?

  • Chemicals
  • Construction Materials
  • Gemstones
  • Metals
  • Minerals
  • Natural Stones
  • Petrochemicals
  • Petroleum
In which field do you want to trade?
  • Chemicals
  • Construction Materials
  • Gemstones
  • Metals
  • Minerals
  • Natural Stones
  • Petrochemicals
  • Petroleum

Which country do you want to trade with?

  • Afghanistan
  • Armenia
  • Azerbaijan
  • Bahrain
  • Egypt
  • Georgia
  • Iran
  • Iraq
  • Israel
  • Jordan
  • Kuwait
  • Lebanon
  • Oman
  • Pakistan
  • Palestine
  • Qatar
  • Saudi Arabia
  • Syria
  • Turkey
  • United Arab Emirates
  • Yemen
Which country do you want to trade with?
  • Kuwait
The ‎sale of crude oil accounts for 90% of GDP and 75% of the government budget

In the previous section, we mentioned the most important import needs of Kuwait, which is ‎imported by this country every year. Here we are going to list the goods exported to Kuwait by ‎Iran.‎

Examining it will help Iranian businessmen and traders to better analyze and study trade with ‎this country. According to statistics, the most important goods exported by Iran to Kuwait in ‎‎2018 are as follows:‎

  • Mineral products: gypsum, lime, cement, sulfur, salt, and stone
  • Iron and steel
  • Sheep and other live animals
  • Oilseeds
  • Food products such as flour, cereals, dairy products
  • Types of vegetables and agricultural products
  • Fish and other marine fish
  • Fruits and citrus fruits, watermelon
  • Works of art and culture
  • Building materials

In addition to the above products, various other goods are exported to Kuwait. Although the list ‎of goods to be exported to Kuwait may change each year, many of the products exported are ‎often the same each year.‎

Kuwait Economy
The second Gulf War and the occupation of Kuwait in 1990 dealt a fatal blow to Kuwait's ‎economy, squandering more than $ 100 billion in foreign reserves and investments. The total ‎damage to Kuwait as a result of its occupation by Iraq is estimated at more than $ 109.44 ‎billion. The structure of Kuwait's economy did not change after the Persian ‎Gulf‎ War. The country's GDP increased after 1993 after a decline due to the occupation.‎

Kuwait is a small but restricted economy that is heavily dependent on crude oil exports. The ‎sale of crude oil accounts for 90% of GDP and 75% of the government budget. The global oil ‎crisis of late 1998 and early 1999 reduced the country's budget from $ 5.5 billion to $ 3 billion, ‎creating widespread problems for Kuwait's economy.‎

Of course, much of Kuwait's economic woes over the past 10 years are due to the devastating ‎effects of Iraq's 1990 invasion of the country's oil facilities. Funding for the reconstruction of ‎cities and economic units on the one hand, and the cost of sending US troops to defend Kuwait ‎against Iraq's ambitious threats, has prompted the Kuwaiti government to attract foreign ‎investment in recent years.‎

Kuwait has a good per capita income due to its small population and relatively high GDP. The ‎average per capita income of the Kuwaiti people, which was about $ 12,500 in 1999, rose to ‎about $ 14,000 in 2000. Few people live below the poverty line in this country and most of the ‎families have a relatively prosperous life. The tendency for luxuries and rituals, which is a ‎subculture in Kuwaiti families, stems from this relative social well-being. 

The economic ‎inflation rate in Kuwait is estimated at less than 2%, which is a reasonable rate (it was about ‎‎8.7% in 1997). Kuwait has a workforce of one million, most of whom are immigrants from ‎neighboring countries. Fifty percent of Kuwait's workforce is employed in government and ‎social services, 40 percent in services, and 10 percent in industry and agriculture.‎

Kuwait is a good buyer of food, building materials, vegetables, and clothing from neighboring ‎countries. The official currency of Kuwait is the dinar, which is divided into one thousand ‎scales. Each US dollar is currently equal to 0.28073 Kuwaiti dinars (December 18, 2011) ‎Kuwait is one of the 20 most expensive cities in the world in terms of the high cost of living.‎

After 1991, Kuwait's former economic problems were linked to the devastating consequences ‎of the second Gulf War, and there was an urgent need to change the country's economic ‎structure. The Kuwaiti government enlisted the advice of the World Bank and the International ‎Monetary Fund to follow this path and solve its fundamental economic problems. In 1993, ‎expert delegations from the two organizations visited Kuwait and recommended the ‎implementation of an economic reform program, the main focus of which is:‎

  1. Privatization
  2. ‎Elimination of subsidies and free services, increase of taxes

Kuwait has invested directly and indirectly in European, American, and Asian countries. The ‎largest of these investments are in seven industrialized countries.‎

Kuwait's trade balance in 1997 and 1998 was $ 7.1 billion and $ 641 million, respectively. Also, ‎the current account balance of this country in the above years reached 7.9 billion and 2.9 billion ‎dollars, respectively. Crude oil, petrochemicals, food products, construction metals, and salt are ‎the main industrial and mineral products of Kuwait.‎

Kuwait also can generate 27 billion kilowatt-hours of electricity, all of which are supplied by ‎thermal power plants and consumed by domestic units. Kuwait has little agriculture and its ‎fishing activities are limited to fishing and shrimp. The United States, Japan, South Korea, ‎India, Singapore, the United Kingdom, Germany, and Italy are Kuwait's largest trading partners.‎

Important economic, social and political characteristics of Kuwait
The Emirate of Kuwait with an area of 17.818 square kilometers and a population of about two ‎million people is located in the north of the Arabian Peninsula and northwest of the Persian ‎Gulf‎ between 8 and 30 degrees latitude 46 and 48 degrees east longitude and from north to Iraq, ‎from south to Saudi arabia is bounded on the east by the Persian Gulf‎. 

Kuwait is flat and ‎desert land with a sandy surface and no natural features such as mountains and rivers. Since ‎political, economic, social, etc. activities revolve around the city (Kuwait), in terms of area and ‎population, the concept of city-state can be applied to Kuwait. 

The country has several islands ‎on the shores of the Persian Gulf‎, the most important and largest of which are: Bobian, Filke, ‎Varya, Meskan, Awah, Umm al-Niml, Qarawara, Umm al-Muradam, and Kabar. Due to its ‎geographical location, Kuwait has always been an important center for shipping and maritime ‎activities.‎

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