The state of Kuwait is an Arab nation lying towards the tip of the Persian Gulf, sharing its geographical borders with Iraq and Saudi Arabia. The nation was once a prominent center for trade which gradually decreased due to several external and internal factors.
Kuwait is primarily exposed to the International trade scenario through its three major seaports. The Shuwaikh Port, Doha Port and the Shuaiba Port have a major role in reinforcing the nation’s economic status and creating a place for Qatar in global business. The Shuwaikh Port is the largest and busiest in the state of Kuwait.
Features of the Shuwaikh Port
Lying on the southern part of the Kuwait bay, across the Persian Gulf is the Shuwaikh port; the busiest seaport in the country. Stretched across 8 kilometers this port has excellent infrastructure and is capable of handling container and cargo vessels such as commercial and merchant vessels, trawlers, relatively smaller passenger ships, liners, tramps, etc.
Spread along 320 hectares of earth and another 120 hectares of water, the Shuwaikh port has 21 berths.
Moreover, the port of Shuwaikh is equipped with a water desalinization plant and an electric power station that serves the city of Kuwait.
Global Trade and Statistics
Being a petroleum based nation, Kuwait has its major exports as petroleum and allied products, fertilizers, etc. The nation makes approximately 94% of its income through export of petroleum alone. Key partners in export trade with Kuwait are nations including South Korea, India, Japan, the United States of America, China and Singapore.
Imports are generally confined to food products, automobile parts, textiles and machinery and a few important nations engaging in trade with Kuwait through import are the United States of America, China, Japan, Germany, Saudi Arabia, Italy, India, etc.
Even though the nation has been attempting to shift from an oil dependent economy and diversify, the past decades have witnessed an increase in the reliance on the petroleum industry. The past years are seeing a slight improvement with steps taken towards drastic economic reforms as 100% foreign property ownership etc. and is expected to increase over the next few years.