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14-12-2023
The value of Kuwait's exports to the world in 2022 amounted to $90.5 billion. This represents a year-on-year increase of 43.3% in the total value of Kuwait's exported products compared to $63.1 billion in 2021.
Kuwait's three most valuable exports are crude oil, processed oil and oil and gas.
Kuwait's Top 10 Exports
1. Fossil fuels including oil: $85.5 billion (94.5% of total exports)
2. Organic chemicals: $2.3 billion (2.5%)
3. Plastics, plastic products: $861.8 million (1%)
4. Aircraft, spacecraft: $288.2 million (0.3%)
5. Salt, sulfur, stone, cement: $286.4 million (0.3%)
6. Iron and steel: $187.1 million (0.2%)
7. Gems, precious metals: $118.2 million (0.1%)
8. Copper: $106.6 million (0.1%)
9. Aluminum: $104.1 million (0.1%)
10. Electrical machinery, equipment: $66.3 million (0.1%)
Kuwait's top 10 export categories accounted for 99.3% of its total global shipment value.
Aircraft and spacecraft is the fastest growing of the top 10 export categories, growing 35,485% from 2021 to 2022. The second highest growth in export sales was in the salt, sulfur, stone and cement product category, which grew by 23,223%. Kuwait's exports of gemstones and precious metals grew the third fastest, by 109.6%. This category was boosted by increased international sales of precious metal scrap.
The largest decline in Kuwait's top ten export categories was Electrical Machinery and Equipment, down -58.3% year-on-year.
At the more granular four-digit HS code level, the top ten most valuable exports were led by Crude Oil, which accounted for 70.3% of Kuwait's total international sales. In second place was processed petroleum (19.5%), followed by liquefied petroleum gas (3.9%), cyclic hydrocarbons (1.5%), acyclic alcohols (0.9%), ethylene polymers (0.7%), petroleum residues (0.6%), non-sublimated sulphur (0.3%), aircraft and spacecraft (0.3%), and then propylene or olefin polymers (0.2%).
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