Car Sales Fall In Kuwait In 2009
Published: March 19th, 2010
Car sales fell in Kuwait in 2009 to 119,133 units, from 122,623 in 2008. The impact of the international economic crisis was felt in the Gulf state’s economy; plunging oil prices in the latter half of 2008 and early 2009 had a serious effect on the country’s income, while tightening credit also curtailed economic growth.
The Central Bank of Kuwait (CBK) estimates that the country slid into recession, in 2009, with us estimating a 2.4% contraction.
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