Economy of Kuwait
Kuwait City skyline | |
| Currency | Kuwaiti dinar (KWD) |
|---|---|
| 1 April – 31 March | |
Trade organisations | WTO, OPEC and GCC |
Country group | |
| Statistics | |
| Population | 4,853,420 (2023) |
| GDP |
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| GDP rank | |
GDP growth |
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GDP per capita |
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GDP per capita rank | |
GDP by sector | agriculture (0.4%), industry (67%), services (43.6%) (2022 est.) |
| 3.0% (2024) | |
| Unemployment | 2.1% |
Main industries | petroleum, petrochemicals, steelmaking, cement, shipbuilding and repair, desalination, food processing, construction materials |
| External | |
| Exports | $95.476 billion (2023 est.) |
Export goods | oil and refined products, acyclic alcohols, motor cars and other motor vehicles, lightvessels, floating cranes, floating docks, dredgers. |
Main export partners | China 24% India 15% South Korea 11% Japan 9% Taiwan 7% (2022 est.) |
| Imports | $63.43 billion (2023 est.) |
Import goods | food, construction materials, vehicles and parts, clothing |
Main import partners | UAE 20% China 16% Saudi Arabia 9% US 7% Japan 4% (2022 est.) |
Gross external debt | $48.91 billion (31 December 2017 est.) |
| Public finances | |
| $13.74 billion (2021 est.) | |
| Revenues | $24.97 billion (2020 est.) |
| Expenses | $71.58 billion (2020 est.) |
| Economic aid | N/A |
| Standard & Poor's: AA- (Domestic) AA- (Foreign) AA+ (T&C Assessment) Outlook: Stable Moody's: Aa2 Outlook: Stable Fitch: AA Outlook: Stable | |
All values, unless otherwise stated, are in US dollars. | |
Kuwait has a petroleum-based economy that is classified as emerging and high-income. By various per-capita measures of economic output, Kuwait is one of the wealthiest countries in the world.