Kuwait’s exports during the first nine months of 2011 stood at KD20.1 billion ($72.2 billion), which is 4.5 per cent higher than the full year figures for 2010, a report said.

While hydrocarbon exports reached KD18.8 billion, or 93.6 per cent of total exports, imports of goods and services jumped 7.5 per cent to reach KD5 billion, compared to KD4.7 billion during nine months of 2010, said the report in Arab News.

Trade balance for the January-September period of 2011 grew 61.2 per cent to a surplus of KD15.1 billion, as against a growth of 25 per cent CAGR from 2005 to 2008, said the report, quoting Global Investment House.

Oil exports have accounted for 94 per cent of total exports from 2005 to nine months of 2011.

Kuwait’s nonoil exports represented 6.4 per cent of total exports in nine months of 2011, while representing an average of 5.5 per cent from 2005-2010, increasing by 25 per cent to reach KD1.295 billion in the first nine months of 2011, the report said.