Economy of Kuwait
Population: 4.14 M (2018)
GDP per Capita: 33,994 USD (2018)
140,650 M.

GDP USD

(2018)

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79,770 M.

EXPORTS USD

(2018)

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61,560 M.

IMPORTS USD

(2018)

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20.68 %

PUBLIC DEBT

(2017)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 1.25 % (2018)
GDP of 2010 USD USD 137.00 B. (2018)
GDP Current USD USD 140.65 B. (2018)
GDP per Capita Current USD USD 33,994 (2018)
GDP per capita, PPP USD 64,684 (2018)
GDP per Capita, 2010 USD USD 33,112 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 22.66 % (2018)
Government Spending USD 31.87 B. (2018)
Government Debt % GDP 20.68 % (2017)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 156.65 (2018)
Trade Openness 100.49 % (2018)
Exports of Goods and Services % GDP 56.72 % (2018)
Exports Goods & Services USD 79.77 B. (2018)
Exports Annual Growth 2.46 % (2016)
Imports as % GDP 43.77 % (2018)
Total Imports USD 61.56 B. (2018)
Foreign Direct Investment % GDP 0.09 % (2017)
Foreign Direct Investment USD 0.11 B. (2017)
Current Account Balance % GDP USD 17.10 % (2018)
Current Account Balance USD 24.05 B. (2018)
Trade Balance % GDP 12.95 % (2018)
Trade Balance USD 16.99 B. (2018)
Foreign Exchange Reserves incl Gold USD 40.28 B. (2018)
Remittances % GDP 0.02 % (2018)
Remittances 0.02 % (2018)
Balance of Payments USD 3,113 M. (2018)

Labor Market

Indicator Value
Labor Force 2.44 M. (2019)
Unemployment Rate 2.16 % (2019)
Unemployment Rate Females 5.52 % (2019)
Unemployment Rate Males 1.07 % (2019)
Youth Unemployment (ages 15-24) 14.37 % (2019)
Labor Force Participation Rate 73.82 % (2019)
Labor Force (Percent Female) 25.06 % (2019)
Female Labor Force Participation Rate 57.33 % (2019)
Male Labor Force Participation Rate 85.27 % (2019)
Dependent People 31.73 % (2018)

Agriculture Sector

Indicator Value
Forest Area 0.40 % (2016)
Forest Area km² 63 km² (2016)
Agricultural Land 8.42 % (2016)
Agricultural Land km² 1,500 km² (2016)
Employment 2.23 % (2019)
Value added % GDP 0.44 % (2018)
Agriculture Value added USD 0.62 B. (2018)
Crop Production Index 185.60 (2016)
Precipitation 121 mm (2014)
Arable Land 0 % (2016)
Cereal Yield 5,656 kg/hectare (2017)
Food production index 192 (2016)
Rural Population 0 % (2001)
Fertilizer use of Arable Land 751 kg/hectare (2016)
Livestock Production Index 197 (2016)
Economy of Kuwait

According to the World Bank and its latest published data, the economy of the Kuwait presents a growth rate of 1.25 % (2018) to the previous year.

With a population that reaches 4.14 M (2018) and a gross domestic product of USD 140.65 B. (2018), it translates a Gross Domestic Product per Capita of USD 33,994 placing its inhabitants on the threshold of an High-income country (according to the World Bank's updated classification).

Kuwait also has a workforce of 2.44 M. (2019) with an unemployment rate of 2.16 % (2019), where women represent 5.52 % (2019) and men 1.07 % (2019), the unemployment rate for young people between 15-24 years old stood at 14.37 % (2019). The total number of dependent people stands at 31.73 % (2018).

The central government spent 22.66 % (2018) of its gross domestic product that year, which in absolute terms is USD 31.87 B. (2018). Its consolidated public debt reached 20.68 of its GDP, not exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Kuwait exported USD 79.77 B. (2018), which represents 56.72 % (2018) of its gross domestic product, in that same sense its imports reached USD 61.56 B. (2018) with a direct foreign investment of USD 0.11 B. (2017).

Kuwait has a forest area of 63 km² (2016), which represents 0.40 % (2016) of its total area, an average rainfall of 121 mm (2014) per year and a population of 0 % (2001) living in rural areas. With a total area of 1,500 km² (2016) available for agriculture and 2.23 % (2019) of its employments, the agricultural sector contributes to the economy of the Kuwait about USD 0.62 B. (2018) (0.44 % (2018) of its GDP).