Kuwait: Travel tips, articles, photos, gallery, cities database, population, pics, flags, statistics, free maps online

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Introduction - Kuwait:
Location - Kuwait:
People - Kuwait:
Government - Kuwait:
Economy - Kuwait:

Economy overview

Kuwait is a small, rich, relatively open economy with self-reported crude oil reserves of about 96 billion barrels - 10% of world reserves. Petroleum accounts for nearly half of GDP, 95% of export revenues, and 80% of government income. Kuwaits 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. High oil prices in recent years have helped build Kuwaits budget and trade surpluses and foreign reserves. As a result of this positive fiscal situation, the need for economic reforms is less urgent and the government has not earnestly pushed through new initiatives.

Gdp purchasing power parity

$55.91 billion (2006 est.)

Gdp official exchange rate

$60.72 billion (2006 est.)

Gdp real growth rate

12.6% (2006 est.)

Gdp per capita ppp

$23,100 (2006 est.)

Gdp composition by sector

agriculture: 0.4%
industry: 48.3%
services: 51.3% (2006 est.)

Labor force

1.136 million
note: non-Kuwaitis represent about 80% of the labor force (2006 est.)

Labor force by occupation

agriculture: NA%
industry: NA%
services: NA%

Unemployment rate

2.2% (2004 est.)

Population below poverty line


Household income or consumption by percentage share

lowest 10%: NA%
highest 10%: NA%

Inflation rate consumer prices

3% (2006 est.)

Investment gross fixed

26.4% of GDP (2006 est.)


revenues: $59.58 billion
expenditures: $33.62 billion; including capital expenditures of $NA (2006 est.)

Public debt

8.1% of GDP (2006 est.)

Agriculture products

practically no crops; fish


petroleum, petrochemicals, cement, shipbuilding and repair, water desalination, food processing, construction materials

Industrial production growth rate

13.1% (2005 est.)

Electricity production

40.37 billion kWh (2004)

Electricity consumption

37.54 billion kWh (2004)

Electricity exports

0 kWh (2004)

Electricity imports

0 kWh (2004)

Oil production

2.418 million bbl/day (2005 est.)

Oil consumption

335,000 bbl/day (2004 est.)

Oil exports

2.2 million bbl/day (2004)

Oil imports

NA bbl/day

Oil proved reserves

96.5 billion bbl (2006 est.)

Natural gas production

9.7 billion cu m (2004 est.)

Natural gas consumption

9.7 billion cu m (2004 est.)

Natural gas exports

0 cu m (2004 est.)

Natural gas imports

0 cu m (2004 est.)

Natural gas proved reserves

1.572 trillion cu m (1 January 2005 est.)

Current account balance

$40.75 billion (2006 est.)


$56.06 billion f.o.b. (2006 est.)

Exports commodities

oil and refined products, fertilizers

Exports partners

Japan 20.2%, South Korea 16%, Taiwan 11.5%, Singapore 9.6%, US 8.9%, Netherlands 5.1%, China 4.1% (2006)


$19.12 billion f.o.b. (2006 est.)

Imports commodities

food, construction materials, vehicles and parts, clothing

Imports partners

US 14.1%, Japan 7.8%, Germany 7.7%, Saudi Arabia 6.8%, China 5.7%, UK 5.4%, Italy 4.6% (2006)

Reserves of foreign exchange and gold

$11.08 billion (2006 est.)

Debt external

$19.7 billion (2006 est.)

Economic aid recipient


Currency code

Kuwaiti dinar (KD)

Exchange rates

Kuwaiti dinars per US dollar - 0.29 (2006), 0.292 (2005), 0.2947 (2004), 0.298 (2003), 0.3039 (2002)

Communications - Kuwait:
Transportation - Kuwait:
Military - Kuwait:
This page was last updated on 16 September, 2007
Source: CIA >>>

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