RISE IN DOLLAR HAS HAD A SIGNIFICANT IMPACT ON KUWAIT'S AUTOMOTIVE MARKET

  • 23/10/2022

Kuwait City: The dollar has seen a sharp rise since the beginning of 2022 due to the US Federal Reserve's ongoing tightening of monetary policy and raising of interest rates, reaching its highest level in 20 years at a time when the exchange rates of many important currencies around the world fell against the green currency, including the Euro, British pound, Chinese yuan, and Japanese yen. 


In 2021, according to statistics on international trade, Kuwait imported goods worth 9.61 billion dinars from 15 nations, with China accounting for 1.72 billion dinars of that total, followed by the United States with 768.7 million, Japan with 554 million, Germany with 424.1 million, the United Kingdom with 228.72 million, Turkey with 227.75 million, France with 217.42 million, and Switzerland with 215.28 million.

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