Kuwait – Mubasher: Kuwait’s current trade balance is expected to register a 2% surplus of the gross domestic product (GDP) in 2017, in line with the improvement in oil prices, according to a recent report issued by the National Bank of Kuwait (NBK).

The country’s current account for the first time has reported a 4.5% deficit in 2016, compared to a 3.5% surplus of the GDP in 2015, the report noted.

The reason behind Kuwait’s deficit in 2016 is the continuous deterioration in the balance of goods, which fell to its lowest level of KWD 6.1 billion in twelve years.

NBK noted that the balance of payments registered its highest level in five years, as the reserves of Kuwait’s central bank increased by 14% to KWD 8.9 billion.