Unlike its GCC peers Kuwait at least notched up a trade surplus in 2015, albeit the lowest in 10 years. But it will be hard-pressed to repeat this trick in 2016.

The country’s oil export revenue fell by 45% to KD 14.7bn last year, the result not only of a collapse in prices but also of a 3% fall in production as Kuwait was hit by the progressive outage from late 2014 of production from the Neutral Zone it shares with Saudi Arabia (see p4). (CONTINUED - 248 WORDS)