Economy - overview:
Kuwait has a geographically small, but wealthy, relatively open economy with crude oil reserves of about 104 billion barrels - about 7% of world reserves. Petroleum accounts for nearly half of GDP, 95% of export revenues, and 95% of government income. Kuwaiti officials have committed to increasing oil production to 4 million barrels per day by 2020. The rise in global oil prices throughout 2011 is reviving government consumption and economic growth. Kuwait has experienced a 20% increase in government budget revenue, which has led to higher budget expenditures, particularly wage hikes for many public sector employees. Kuwait has done little to diversify its economy, in part, because of this positive fiscal situation, and, in part, due to the poor business climate and the acrimonious relationship between the National Assembly and the executive branch, which has stymied most movement on economic reforms. In 2010, Kuwait passed an economic development plan that pledges to spend up to $130 billion over five years to diversify the economy away from oil, attract more investment, and boost private sector participation in the economy.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Investment (gross fixed): Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
NOTE: 1) The information regarding Kuwait on this page is re-published from the 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Kuwait Economy 2012 information contained here. All suggestions for corrections of any errors about Kuwait Economy 2012 should be addressed to the CIA.
$149.8 billion (2011 est.)
country comparison to the world: 60
note: data are in 2011 US dollars
[see also: GDP country ranks ]
$171.1 billion (2011 est.)
[see also: GDP (official exchange rate) country ranks ]
5.7% (2011 est.)
country comparison to the world: 53
[see also: GDP - real growth rate country ranks ]
$40,700 (2011 est.)
country comparison to the world: 19
note: data are in 2011 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 0.3%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 48%
[see also: GDP - composition by sector - industry country ranks ]
services: 51.8% (2011 est.)
[see also: GDP - composition by sector - services country ranks ]
2.243 million
country comparison to the world: 115
note: non-Kuwaitis represent about 60% of the labor force (2011 est.)
[see also: Labor force country ranks ]
agriculture: NA%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: NA%
[see also: Labor force - by occupation - industry country ranks ]
services: NA%
[see also: Labor force - by occupation - services country ranks ]
2.2% (2004 est.)
country comparison to the world: 19
[see also: Unemployment rate country ranks ]
NA%
[see also: Population below poverty line country ranks ]
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
11.4% of GDP (2011 est.)
country comparison to the world: 179
[see also: Investment (gross fixed) country ranks ]
revenues: $98.23 billion
[see also: Budget revenues country ranks ]
expenditures: $63.16 billion (2011 est.)
[see also: Budget expenditures country ranks ]
57.4% of GDP (2011 est.)
country comparison to the world: 11
[see also: Taxes and other revenues country ranks ]
20.5% of GDP (2011 est.)
country comparison to the world: 2
[see also: Budget surplus (+) or deficit (-) country ranks ]
6.8% of GDP (2011 est.)
country comparison to the world: 128
[see also: Public debt country ranks ]
5.6% (2011 est.)
country comparison to the world: 132
[see also: Inflation rate (consumer prices) country ranks ]
1.25% (31 December 2010 est.)
country comparison to the world: 100
[see also: Central bank discount rate country ranks ]
5.5% (31 December 2011 est.)
country comparison to the world: 181
[see also: Commercial bank prime lending rate country ranks ]
$23.12 billion (31 December 2011 est.)
country comparison to the world: 64
[see also: Stock of narrow money country ranks ]
$94.26 billion (31 December 2011 est.)
country comparison to the world: 53
[see also: Stock of broad money country ranks ]
$105.5 billion (31 December 2011 est.)
country comparison to the world: 51
[see also: Stock of domestic credit country ranks ]
$119.6 billion (31 December 2010)
country comparison to the world: 42
[see also: Market value of publicly traded shares country ranks ]
petroleum, petrochemicals, cement, shipbuilding and repair, water desalination, food processing, construction materials
NA% (2010 est.)
[see also: Industrial production growth rate country ranks ]
49.82 billion kWh (2009 est.)
country comparison to the world: 49
[see also: Electricity - production country ranks ]
42.58 billion kWh (2008 est.)
country comparison to the world: 51
[see also: Electricity - consumption country ranks ]
0 kWh (2009 est.)
[see also: Electricity - exports country ranks ]
0 kWh (2009 est.)
[see also: Electricity - imports country ranks ]
2.45 million bbl/day (2010 est.)
country comparison to the world: 12
[see also: Oil - production country ranks ]
354,000 bbl/day (2010 est.)
country comparison to the world: 36
[see also: Oil - consumption country ranks ]
2.127 million bbl/day (2009 est.)
country comparison to the world: 8
[see also: Oil - exports country ranks ]
0 bbl/day (2009 est.)
country comparison to the world: 208
[see also: Oil - imports country ranks ]
11.49 billion cu m (2009 est.)
country comparison to the world: 40
[see also: Natural gas - production country ranks ]
12.38 billion cu m (2009 est.)
country comparison to the world: 42
[see also: Natural gas - consumption country ranks ]
0 cu m (2009 est.)
country comparison to the world: 128
[see also: Natural gas - exports country ranks ]
890 million cu m (2009 est.)
country comparison to the world: 61
[see also: Natural gas - imports country ranks ]
1.798 trillion cu m (1 January 2011 est.)
country comparison to the world: 20
[see also: Natural gas - proved reserves country ranks ]
$61.72 billion (2011 est.)
country comparison to the world: 10
[see also: Current account balance country ranks ]
$94.47 billion (2011 est.)
country comparison to the world: 41
[see also: Exports country ranks ]
oil and refined products, fertilizers
Japan 15.5%, India 15.3%, South Korea 13.5%, China 10.1%, US 8.4% (2010)
$22.41 billion (2011 est.)
country comparison to the world: 72
[see also: Imports country ranks ]
food, construction materials, vehicles and parts, clothing
US 14.2%, China 9.5%, Saudi Arabia 7.3%, Japan 7.2%, Germany 6.1%, Italy 4.7%, India 4.4% (2010)
$28.02 billion (31 December 2011 est.)
country comparison to the world: 52
[see also: Reserves of foreign exchange and gold country ranks ]
$44.45 billion (31 December 2011 est.)
country comparison to the world: 60
[see also: Debt - external country ranks ]
$3.028 billion (31 December 2011 est.)
country comparison to the world: 87
[see also: Stock of direct foreign investment - at home country ranks ]
$39.06 billion (31 December 2011 est.)
country comparison to the world: 36
[see also: Stock of direct foreign investment - abroad country ranks ]
Kuwaiti dinars (KD) per US dollar -
2) The rank that you see is the CIA reported rank, which may habe the following issues:
a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order
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This page was last modified 07-Mar-12