Not only were the internal economic and social structures of Kuwait transformed by the development of its oil wealth, but its relationship with the rest of the region and the world at large was fundamentally altered. While Kuwait’s external economic relations encompass a broad range of economic activities its role in international finance and foreign assistance will be dealt with in separate chapters in view of their differing nature and special importance. Emphasis in this chapter is on such aspects as foreign trade, the structure of the balance of payments and regional economic relations. Kuwait had always been a trading country, with a network of relationships abroad out of all proportion to its size. The development of trade in oil, with its ramifications in the balance of world trade, has now added a new dimension to the Kuwait economic scene.
KeywordsForeign Trade Trade Balance Arab Country Economic Relation Foreign Asset
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