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11 Jul 2019, Petia Krasteva, EMIS Editor

Kuwait’s GDP growth reaches 2.6% y/y in first quarter of 2019

Kuwait’s GDP growth reached 2.6% y/y in the first quarter of 2019, accelerating from 2% y/y growth in Q4 2018, CEEMarketWatch reported. The non-oil sector rose by faster 4.1% y/y while the oil sector growth was 1.3% y/y. The oil sector has a bigger 53% contribution to the national output in Q1 2019 though, CEEMarketWatch added.

Details showed that in the non-oil economy the fastest growing sectors were manufacturing, financial sector and defence. The sectors where output declined were transportation and utilities.

The IMF expects Kuwait’s economy to expand by 2.5% this year, CEEMarketWatch recalled.

Sign in and read the full article in emis.com, and find out more about EMIS. Original source: CEEMarketWatch