Kuwait (KWT) and Australia (AUS) Trade | The Observatory of Economic Complexity

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Kuwait-Australia Trade: In 2023, Kuwait exported $2.84M to Australia. The main products that Kuwait exported to Australia were Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($510k), Acrylic Polymers ($486k), and Nonaqueous Pigments ($404k). Over the past 5 years the exports of Kuwait to Australia have decreased at an annualized rate of 42.2%, from $43.9M in 2018 to $2.84M in 2023.

In 2023, Kuwait did not export any services to Australia.

Australia-Kuwait Trade: In 2023, Australia exported $462M to Kuwait. The main products that Australia exported to Kuwait were Wheat ($158M), Sheep and Goat Meat ($85.4M), and Barley ($74.4M). Over the past 5 years the exports of Australia to Kuwait have increased at an annualized rate of 5.14%, from $359M in 2018 to $462M in 2023.

In 2023, Australia did not export any services to Kuwait.

Comparison: In 2023, Kuwait ranked 53 in the Economic Complexity Index (ECI 0.21), and 47 in total exports ($71B). That same year, Australia ranked 75 in the Economic Complexity Index (ECI -0.28), and 20 in total exports ($374B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Kuwait exported $2.84M to Australia. The main products exported from Kuwait to Australia were Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($510k), Acrylic Polymers ($486k), and Nonaqueous Pigments ($404k). During the last 5 years the exports of Kuwait to Australia have decreased at an annualized rate of 42.2%, from $43.9M in 2018 to $2.84M in 2023.

In 2018, Australia exported $462M to Kuwait. The main products exported from Australia to Kuwait were Wheat ($158M), Sheep and Goat Meat ($85.4M), and Barley ($74.4M). During the last 5 years the exports of Australia to Kuwait have increased at an annualized rate of 5.14%, from $359M in 2023 to $462M in 2018.

Exports from Kuwait () to Australia () (2023)

Exports from Australia () to Kuwait () (2023)

Latest Data

Trade between Kuwait () and Australia ()

Kuwait Exports

Date

Australia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Kuwait
Top DestinationChina$17.4B

Australia
Top DestinationChina$137B

This map shows whether countries import more from Kuwait or Australia. Each country is colored based on the difference in imports they receive from Kuwait and Australia or the difference in the growth in imports.

In 2023, countries that imported more from Kuwait than Australia included Egypt ($2.78B), Oman ($1.74B), and Ethiopia ($1.33B).

In 2023, countries that imported more from Australia than Kuwait included China ($137B), Japan ($59B), and South Korea ($20.9B).

Difference in imports from Australia () and Kuwait () (2023)

Comparative Advantage Kuwait - Australia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Kuwait and Australia by product, considering products traded by both, Kuwait and Australia.

During 2023, Kuwait had a large net trade with Australia in the exports of Chemical Products ($951k), Plastics and Rubbers ($539k), and Stone And Glass ($310k).

During 2018, Australia had a large net trade with Kuwait in the exports of Vegetable Products ($251M), Animal Products ($172M), and Miscellaneous ($8.45M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Kuwait Australia+$89.2MRefined Petroleum

Top Product Potential Australia Kuwait+$2.5MPackaged Medicaments

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Kuwait and Australia. This means that a dot/product with the flag of Kuwait indicates it has a comparative advantage over Australia. Similarly, a dot/product with the flag of Australia indicates it has a comparative advantage over Kuwait.

About

Historical Data

Bilateral Trade by Products

Exports from Kuwait () to Australia () (2023)

Exports from Australia () to Kuwait () (2023)

Latest Data

Trade between Kuwait () and Australia ()

Kuwait Exports

Australia Exports

Market Competitiveness

Difference in imports from Australia () and Kuwait () (2023)

Comparative Advantage Kuwait - Australia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Kuwait () and Australia () (2023)

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