Kuwait Freight Transport and Shipping Report Q4 2017
The five-year outlook for the Kuwaiti economy remains stable, but Kuwait will face some minorheadwinds in 2017. The prolonged global oil price slump continues to trouble the Kuwaiti economy, withhydrocarbon exports remaining depressed. The government's economic diversification efforts have notfared well when compared to neighbouring Qatar and the UAE, keeping a lid on the economic recovery.Nevertheless, we forecast positive growth rates for both road and air transport over the course of ourforecast period to 2021. Growth in road freight will be fuelled by capital investments and infrastructureprojects. Air freight growth will be bolstered by high spending power and stable demand for premium goodsand pharmaceuticals in the country.
Key Updates And Forecasts
Economic diversification efforts in the face of the global oil price collapse will prove crucial for Kuwait'seconomy over the short and medium term. The Kuwait Sovereign Fund, one of the largest sovereignfunds in the world, is looking to invest in a variety of projects including infrastructure development, IT,tourism and technological innovation.