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 (2016): China, United Arab Emirates, and United States
Top 3 Exported Goods (2016): Oil & Mineral Fuels, Organic Chemicals, and Motor Vehicles & Parts

Top Industries Source: CIA World Factbook

Petroleum; Petrochemicals; Cement; Shipbuilding and Repair

Gross Domestic Product (GDP) [1]

GDP, PPP (current international) $300,961,092,608 (2016)
GDP Growth Rate (annual %) 3.547% (2016)
GDP Per Capita, PPP (current international) $74,264 (2016)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 55/195 (2016)

GDP Composition %

Note: GDP composition percentage may exceed 100. Manufacturing is included in the Industry figures and is also reported separately because it plays a critical role in many economies.

Economic Indicators [1]

Inflation, consumer prices (annual %) 3.198% (2016)
External debt stocks, total (DOD, current US$) Data unavailable
Total tax rate (% of commercial profits) 13% (2017)
Real Interest Rate (5 year average %) 11.304% (2016)
Manufacturing, value added (% of GDP) 6.816% (2016)
Current Account Balance (BoP, current US$) $641,706,077 (2016)
Click on a row to display its 5-year graph on the right.

Labor and Employment [1]

Labor Force, Total 2,253,041 (2017)
Employment in Agriculture (% of total employment) 3.52% (2017)
Employment in Industry (% of total employment) 26.679% (2017)
Employment in Services (% of total employment) 69.801% (2017)
Unemployment Rate 2.08% (2017)
Click on a row to display its 5-year graph on the right.

Trade [1]

Imports of goods and services (current US$) $51,478,491,066 (2016)
Exports of goods and services (current US$) $53,477,829,252 (2016)
Total Merchandise Trade (% of GDP) 69.535% (2016)
FDI, net inflows (BoP, current US$) $292,026,510 (2016)
Commercial Service Exports (current US$) $4,970,074,864 (2016)
Click on a row to display its 5-year graph on the right.

Economic Snapshot [1]

Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.

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

Sources

  1. The World Bank