Kuwait Economic Statistics and Indicators
01, Jul 2016, EDT. Welcome to the Kuwait economic statistics pages provided by the beta version of EconomyWatch.com's Econ Stats database.
Economic Indicators For: Kuwait › Change country
National or Regional Currency: Kuwaiti Dinar, KWD
Year of data: 2015 › Change year
Number of Indicators Listed: 34
Full Dataset: From Year 1980 to 2021
Date of Last Update: 30th June 2016
Population: 2742711 ; note: Kuwait's Public Authority for Civil Information estimates the country's total population to be 3,996,899 for 2014, with immigrants accounting for almost 69% (July 2014 est.)
Area: total: 17,818 sq km ; land: 17,818 sq km ; water: 0 sq km
Natural Resources: petroleum, fish, shrimp, natural gas
Capital: name: Kuwait City ; geographic coordinates: 29 22 N, 47 58 E ; time difference: UTC+3 (8 hours ahead of Washington, DC,during Standard Time)
Kuwait has a geographically small, but wealthy, relatively open economy with crude oil reserves of about 102 billion barrels - more than 6% 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. Budget surpluses have stayed around 30% of GDP, which has led to higher budget expenditures, particularly wage hikes for many public sector employees, as well as increased allotments to Kuwait’s Future Generations Fund. 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 historically 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 $130 billion over five years to diversify the economy away from oil, attract more investment, and boost private sector participation in the economy, though much of these funds have yet to be allocated.
GDP (Constant Prices, National Currency) for Kuwait in year 2015 is KWD 40.174 Billion.
GDP (Current Prices, National Currency) for Kuwait in year 2015 is KWD 36.071 Billion.
GDP (Current Prices, US Dollars) for Kuwait in year 2015 is US$ 120.682 Billion.
GDP Deflator for Kuwait in year 2015 is 89.787 (Index, Base Year as per country's accounts = 100).
GDP Per Capita (Current Prices, US Dollars) for Kuwait in year 2015 is US$ 29,363.03 .
GDP (PPP), US Dollars for Kuwait in year 2015 is US$ 288.382 Billion.
GDP Per Capita (PPP), US Dollars for Kuwait in year 2015 is US$ 70,165.99 .
Investment (% of GDP) for Kuwait in year 2015 is 19.726 %.
Inflation, Average Consumer Prices (Indexed to Year 2000) for Kuwait in year 2015 is 171.46 (Index, Base Year 2000 = 100).
Inflation, End of Year (Indexed to Year 2000) for Kuwait in year 2015 is 179.728 (Index, Base Year 2000 = 100).
Population for Kuwait in year 2015 is 4.11 Million .
General government revenue (National Currency) for Kuwait in year 2015 is KWD 19.778 Billions.
General government total expenditure (National Currency) for Kuwait in year 2015 is KWD 19.331 Billions.
Total Government Net Lending/ Borrowing (National Currency) for Kuwait in year 2015 is KWD 0.447 Billions.
Fiscal Year Gross Domestic Product, Current Prices for Kuwait in year 2015 is KWD 36.071 Billions.
Current Account Balance (US Dollars) for Kuwait in year 2015 is US$ 13.89 Billion.
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Data Sources: IMF, World Bank, UN, OECD, CIA World Factbook, Internet World Statistics, The Heritage Foundation and Transparency International