Kuwait: Strong and Stable, Seeking New Pizzazz
Cash-rich Kuwait, bolstered by a healthy banking sector, is taking steps to reduce dependence on petroleum and motivate entrepreneurs.
Kuwait GDP and Economic Data
Country Report 2017 - Includes Kuwait real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Kuwait economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Kuwait best banks and safest banks are also available.
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International Reserves
USD 28.4 billion (2015)
International Monetary Fund (IMF), data retrieved January 2017
Gross Domestic Product - GDP
USD 124.9 billion (2017, estimate)
GDP (Purchasing Power Parity)
Intl$ 315.6 billion (2017, estimate)
Real GDP growth
| 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 |
| 7.5% | 6% | 2.5% | -7.1% | -2.4% | 10.9% | 7.9% |
| 2013 | 2014 | 2015* | 2016* | 2017* | ||
| 0.4% | 0.6% | 1.1% | 2.5% | 2.6% |
*Estimate
GDP per capita - current prices
USD 28,756.2 (2017, estimate)
GDP (PPP) - share of world total
| 1980 | 1990 | 2000 | 2010 | 2017* |
| 0.36% | 0.20% | 0.23% | 0.25% | 0.3% |
*Estimate
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GDP - composition by sector
- agriculture: 0.4%
- industry: 59.6%
- services: 40%
(2016 estimate)
Inflation
| 2013 | 2014 | 2015 | 2016* | 2017* |
| 2.7% | 2.9% | 3.2% | 3.4% | 3.8% |
*Estimate
Unemployment rate
| 2013 | 2014 | 2015 | 2016* | 2017* |
| 2.1% | 2.1% | 2.1% | 2.1% | 2.1% |
*Estimate
Public debt (General government gross debt as a % of GDP)
| 2013 | 2014 | 2015* | 2016* | 2017* |
| 6.5% | 7.5% | 11.2% | 18.3% | 22.4% |
*Estimate
Public deficit (General government net lending/borrowing as a % of GDP)
| 2013 | 2014 | 2015* | 2016* | 2017* |
| 34.3% | 28.1% | 1.7% | -3.5% | 3.2% |
*Estimate
Government bond ratings
Standard & Poor's: AA
Moody's: Aa2
Standard & Poor's / Moody's (Updated January 2017)
Source
Market value of publicly traded shares
| 2013 | 2014 | 2015 |
| N/A | N/A | N/A |
Largest companies
National Bank of Kuwait, Kuwait Finance House, Kuwait Projects, Zain.
Source
Source
Current account balance by percentage of GDP
8.4% (2017 estimate)
Exports as percent of GDP (Exports of goods and services)
54.4% (2015)
Shares in world total merchandising export
0.3% (2015)
Shares in world total commercial services export
0.1% (2015)
Export commodities
Oil and refined products, fertilizers
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Import commodities
Food, construction materials, vehicles and parts, clothing
Exports - major partners
South Korea 14.5%, China 12.1%, India 12.1%, Japan 10.4%, US 7.6%, Pakistan 5.9%, Singapore 4.3% (2015)
Imports - major partners
China 13.2%, US 9.6%, Saudi Arabia 7.7%, Japan 6.5%, Germany 5.1%, France 4.3%, India 4.2% (2015)
FDI inflows
| 2013 | 2014 | 2015 |
| USD 1,434 million | USD 953 million | USD 293 million |
FDI outflows
| 2013 | 2014 | 2015 |
| USD 16,648 million | USD -10,468 million | USD 5,407 million |
Value of cross-border M&A, by country of purchaser
| 2012 | 2013 | 2014 | 2015 |
| USD 375.5 million | USD 258.1 million | USD 1414.1 million | USD 731.4 million |
Cross-border M&A deals worth over $3 billion completed in 2014
N/A
Cross-border M&A deals worth over $3 billion completed in 2015
N/A
Best countries for doing business
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.
Overall ranking: 102 out of 190 countries (2017)
Subcategories:
Starting a business: 173 out of 190 countries
Enforcing Contracts: 66 out of 190 countries
Registering Property: 67 out of 190 countries
Getting Credit: 118 out of 190 countries
Protecting Minority Investors: 81 out of 190 countries
Trading Across Borders: 157 out of 190 countries
Paying Taxes: 6 out of 190 countries
Dealing with Construction Permits: 144 out of 190 countries
Getting Electricity: 115 out of 190 countries
Resolving Insolvency: 108 out of 190 countries
Source
Global competitiveness ranking
38 out of 138 countries
(2016-2017)
Index of Economic Freedom
Ranking: 74 / Score: 62.69 (Moderately free) (2016)
(100=totally free 0=totally repressed)
Source
Source
Religions
Muslim (official) 76.7%, Christian 17.3%, other and unspecified 5.9%
(2013 est.)
Total population
| 1990 | 2000 | 2010 | 2016* | 2021* |
| 2.13 million | 2.217 million | 3.582 million | 4.225 million | 4.847 million |
*Estimate
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2015 |
| 75% | 95% | 98% | 98% |
Literacy
Total population: 96.3%
Male: 96.5%
Female: 95.8% (2015 est.)
(age 15 and over can read and write)
Freedom House rating
Political Rights: 5
Civil Liberties: 5 (2017)
(1 represents the most free, 7 the least free rating)
Source
Total telephone subscribers as % of population
Fixed 13.40% Mobile 231.76% (2015)
(fixed-telephone subscribers and mobile-cellular subscribers)