The central preliminary data for Kuwait’s balance of payments for the year 2019 and the adjusted data for the year 2018 showed that the local current account achieved a surplus of 6.7 billion dinars in 2019, compared to 6 billion dinars In 2018, an increase of 11.9 percent.
The central bank explained that the increase in the commercial account surplus between the years 2018 and 2019 amounted to 714.5 million dinars, while the financial account for the balance of payments recorded a net financial outflows value of 7.4 One billion dinars, compared to 6.6 billion dinars in 2018.
The central added that when looking more comprehensively for the balance of payments situation (i.e. taking into account the change in the net value of external assets of some of the entities registered under the general government item in addition to the change In the total reserves of the Central Bank), the overall balance of payments shows a surplus of 3.7 billion dinars last year, compared to 7.8 billion dinars in 2018.
The balance of payments is an accounting and financial record in which all economic procedures relating to countries are recorded to record financial transactions that take place between them and it consists of two parts, the first is devoted to the debtor and records the financial procedures that are Pay it, the second to the creditor, and record the financial procedures that are collected.
