81% of Kuwait's exports to Iraq rose 12 million dinars and the State is considering privatizing the oil service sector

Jul 13, 2016

Kuwait «Arab»: the Ministry of trade and industry revealed in Kuwait that total exports during April amounted to about 19 million dinars Arabic countries accounted for 75 percent of it in about 14 million dinars while the rest of the world accounted for 25 percent (0.32 u.s. dollars).

The Ministry said in published Iraq attracted 81 percent with 12 million dinars of Kuwaiti exports of origin to Arabic countries.

It stated that Italy came in front of the world's exported 4.1 million dinars worth an estimated 29 percent of the total exports of the countries of the world.

She explained that most Arabic countries exporting materials during the month included paper bags and plastic bottles, glass fiber and dairy products in addition to insulating materials and plastics, oils and sweets, while the most important material for the rest of the world in exporting pesticides and polyethylene materials Silicon waloaoit spirit and animal fats.

The bulletin showed: low numbers of import licences issued during the last April by 12 percent compared with the March past where totalling about 1559 license indicating low number of import licences by 7 percent compared to what was released in the same period last year.

And indicated that the General import permits amounted to a license number 1060 while temporary import permits 499 license numbers and general import permits 148 new licence during the month, compared to 223 licences in the same period last year and a significant reduction of around 34 percent.

(Trade) said in its report that the 912 was renewed a license last April against the same month licence 944 2015 and decrease of 3 percent indicating 499 version license temporarily during the month and down about 2 percent compared with the same month of the year 2015.

Regarding the operations of the Hallmarking of precious metals, the Commerce Department reported that it been marked towards 9.1 tonnes of gold during the last April with an increase of 3 percent compared with the same month 8.1 tonnes last year.

She added that the amount of silver that has been branding during the month amounted to 178 kg an increase of 58 percent compared with 113 kg for April 2015 as well as high quantities of valuable stones which was examined and evaluated by about 155 pieces compared with 90 pieces for 2015.

She drew out many business indicators reflect the situation in the national economy, these indicators may be pointing directly at the State of the economy, such as the granting of licences to business investment.

Referring to restrict 423 treatment companies in the commercial register in April, while the number of brands that deposited 827 treatment and an increase of 20 percent.

As for commercial agencies revealed 61 commercial agency registration month marked decline an estimated 71 percent compared with the same month of the year 2015.

According to the total number of commercial licenses for the corporate sector during April last reached 552 compared with the same month license 327 2015 while total 211 affiliates license permits compared with 194 licences in the same period last year.

The total commercial licenses to individuals who agreed to issued during the month of approximately 481 licence in diverse economic activities to the provinces around me and Al-Ahmadi who ranked first in terms of number of licenses by geographic distribution of similar proportion nearly 22 percent of total licenses.

The Trade Ministry said in its report that it had made many subsidies for construction materials nearly 23 million dinars was discharged in March, down 12 percent from last February.

The Ministry of trade and industry support trade and economic activities in the country, supervision and provision of goods, materials and services in addition to the supervision of companies and shops and the work of the commercial register according to the provisions of laws and regulations.

Meanwhile, Kuwaiti financial Ministry Undersecretary Khalifa Hamada said Tuesday that his country is considering privatizing the oil service sector, but these plans will not include domestic production capacity.

He told a press conference in Kuwait City that the Finance Ministry is now studying with KPC and oil services sectors which could be privatized.

He added that privatization will be «for service companies and some side jobs in the oil sector and not for production.