Kuwait: Economy

Economic Trivia

Kuwait has crude oil reserves of about 102 billion barrels - about 7% of world reserves.

Trade Source: United Nations Comtrade
Note: Top 3 trade partners are calculated by imports + exports.

Top 3 Trade Partners (2014): China, United Arab Emirates, and United States
Top 3 Exported Goods (2014): Oil & Mineral Fuels, Organic Chemicals, and Plastics

Top Industries Source: CIA World Factbook

Petroleum; Petrochemicals; Cement; Shipbuilding and Repair

Gross Domestic Product (GDP) Source: The World Bank

GDP, PPP (current international) $274,899,856,055 (2014)
GDP Growth Rate (annual %) -1.622% (2014)
GDP Per Capita, PPP (current international) $73,246 (2014)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 54/193 (2014)

Economic Indicators Source: The World Bank

Inflation, consumer prices (annual %) 2.909% (2014)
External debt stocks, total (DOD, current US$) Data unavailable
Total tax rate (% of commercial profits) 13% (2015)
Real Interest Rate (5 year average %) 3.679% (2013)
Manufacturing, value added (% of GDP) 5.381% (2014)
Current Account Balance (BoP, current US$) $53,967,802,175 (2014)
Click on a row to display its 5-year graph on the right.

Labor and Employment Source: The World Bank

Labor Force, Total 1,992,954 (2014)
Employment in Agriculture (% of total employment) 1.2% (2014)
Employment in Industry (% of total employment) 40.2% (2014)
Employment in Services (% of total employment) 58.6% (2014)
Unemployment Rate 3% (2014)
Click on a row to display its 5-year graph on the right.
Imports of goods and services (current US$) $51,166,549,543 (2014)
Exports of goods and services (current US$) $111,047,083,626 (2014)
Total Merchandise Trade (% of GDP) 82.961% (2014)
FDI, net inflows (BoP, current US$) $485,823,633 (2014)
Commercial Service Exports (current US$) $5,684,316,770 (2014)
Click on a row to display its 5-year graph on the right.

How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Kuwait’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.

Due to unavailable data the following indicators have been omitted:
  • Exports
  • FDI, net inflows
  • GDP Growth Rate
  • GDP Per Capita
  • Inflation
  • Unemployment

Glossary