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 (2019): China, United Arab Emirates, and United States
Top 3 Exported Goods (2019): 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) $219,019,576,943 (2019)
GDP Growth Rate (annual %) 0.427% (2019)
GDP Per Capita, PPP (current international) $52,060 (2019)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 66/196 (2019)

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 %) 1.092% (2019)
External debt stocks, total (DOD, current US$) Data unavailable
Total tax rate (% of commercial profits) 13% (2019)
Real Interest Rate (5 year average %) 9.384% (2019)
Manufacturing, value added (% of GDP) 6.9% (2019)
Current Account Balance (BoP, current US$) $33,788,497,218 (2019)
Click on a row to display its 5-year graph on the right.

Labor and Employment [1]

Labor Force, Total 2,460,629 (2020)
Employment in Agriculture (% of total employment) 1.959% (2020)
Employment in Industry (% of total employment) 24.38% (2020)
Employment in Services (% of total employment) 73.661% (2020)
Unemployment Rate 2.303% (2020)
Click on a row to display its 5-year graph on the right.

Trade [1]

Imports of goods and services (current US$) $61,556,291,391 (2018)
Exports of goods and services (current US$) $79,774,834,437 (2018)
Total Merchandise Trade (% of GDP) 0% (2019)
FDI, net inflows (BoP, current US$) $675,272,105 (2019)
Commercial Service Exports (current US$) $7,445,773,088 (2019)
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