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    Kuwait Economy - 2004
    https://immigration-usa.com/wfb2004/kuwait/kuwait_economy.html
    SOURCE: 2004 CIA WORLD FACTBOOK

      Economy - overview:
      Kuwait is a small, rich, relatively open economy with proved crude oil reserves of about 98 billion barrels - 10% of world reserves. Petroleum accounts for nearly half of GDP, 95% of export revenues, and 80% of government income. Kuwait's climate limits agricultural development. Consequently, with the exception of fish, it depends almost wholly on food imports. About 75% of potable water must be distilled or imported. Kuwait continues its discussions with foreign oil companies to develop fields in the northern part of the country.

      GDP:
      purchasing power parity - $39.54 billion (2003 est.)

      GDP - real growth rate:
      4.4% (2003 est.)

      GDP - per capita:
      purchasing power parity - $18,100 (2003 est.)

      GDP - composition by sector:
      agriculture: 0.5%
      industry: 63.3%
      services: 36.2% (2001)

      Population below poverty line:
      NA%

      Household income or consumption by percentage share:
      lowest 10%: NA%
      highest 10%: NA%

      Inflation rate (consumer prices):
      1.2% (2003 est.)

      Labor force:
      1.3 million
      note: non-Kuwaitis represent about 80% of the labor force. (1998 est.)

      Labor force - by occupation:
      agriculture NA%, industries NA%, services NA%

      Unemployment rate:
      7% (2002 est.)

      Budget:
      revenues: $11 billion
      expenditures: $19.5 billion, including capital expenditures of $NA (FY03/04)

      Industries:
      petroleum, petrochemicals, desalination, food processing, construction materials

      Industrial production growth rate:
      -5% (2002 est.)

      Electricity - production:
      31.49 billion kWh (2001)

      Electricity - production by source:
      fossil fuel: 100%
      hydro: 0%
      other: 0% (2001)
      nuclear: 0%

      Electricity - consumption:
      29.29 billion kWh (2001)

      Electricity - exports:
      0 kWh (2001)

      Electricity - imports:
      0 kWh (2001)

      Oil - production:
      2.27 million bbl/day (2003 est.)

      Oil - consumption:
      293,000 bbl/day (2003 est.)

      Oil - exports:
      1.97 million bbl/day (2003)

      Oil - imports:
      NA

      Oil - proved reserves:
      97.68 billion bbl (1 January 2002)

      Natural gas - production:
      8.7 billion cu m (2002 est.)

      Natural gas - consumption:
      8.7 billion cu m (2002 est.)

      Natural gas - exports:
      0 cu m (2002 est.)

      Natural gas - imports:
      0 cu m (2002 est.)

      Natural gas - proved reserves:
      1.548 trillion cu m (1 January 2002)

      Agriculture - products:
      practically no crops; fish

      Exports:
      $22.29 billion f.o.b. (2003 est.)

      Exports - commodities:
      oil and refined products, fertilizers

      Exports - partners:
      Japan 24.1%, South Korea 12.8%, US 11.8%, Singapore 10%, Taiwan 7.4%, Netherlands 4.4%, Pakistan 4.3% (2002)

      Imports:
      $9.606 billion f.o.b. (2003 est.)

      Imports - commodities:
      food, construction materials, vehicles and parts, clothing

      Imports - partners:
      US 12.8%, Japan 10.9%, Germany 9.7%, Saudi Arabia 6.4%, UK 5.9%, Italy 5.3%, France 5.1% (2002)

      Debt - external:
      $11.2 billion (2003 est.)

      Economic aid - recipient:
      $NA (2001)

      Currency:
      Kuwaiti dinar (KD)

      Currency code:
      KWD

      Exchange rates:
      Kuwaiti dinars per US dollar - 0.3 (2003), 0.3 (2002), 0.31 (2001), 0.31 (2000), 0.3 (1999)

      Fiscal year:
      1 April - 31 March


      NOTE: The information regarding Kuwait on this page is re-published from the 2004 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Kuwait Economy 2004 information contained here. All suggestions for corrections of any errors about Kuwait Economy 2004 should be addressed to the CIA.

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    https://immigration-usa.com/wfb2004/kuwait/kuwait_economy.html

    Revised 21-May-04
    Copyright © 2004 Photius Coutsoukis (all rights reserved)


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