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. Kuwaiti officials plan to increase production to 4 million barrels of oil equivalent per day by 2020. Petroleum accounts for over half of GDP, 92% of export revenues, and 90% of government income. In 2015, Kuwait, for the first time in 15 years, realized a budget deficit after decades of high oil prices; in 2016, the deficit grew to 16.5% of GDP. Kuwaiti authorities announced cuts to fuel subsidies in August 2016, provoking...
GDP | Reference | Last | Previous | Units | Frequency |
---|---|---|---|---|---|
Real Private Consumption | 2017 | 12,623 | 12,261 | Mil. 2010 KWD | Annual |
Private Consumption | 2017 | 15,760 | 14,950 | Mil. KWD | Annual |
Real Government Consumption | 2017 | 7,543 | 7,252 | Mil. 2010 KWD | Annual |
Nominal Gross Domestic Product | 2017 | 36,260 | 33,055 | Mil. KWD | Annual |
Investment | 2017 | 10,541 | 9,903 | Mil. KWD | Annual |
Real Investment | 2017 | 9,258 | 8,798 | Mil. 2010 KWD | Annual |
Government Consumption | 2017 | 9,114 | 8,497 | Mil. KWD | Annual |
Real Gross Domestic Product | 2017 | 39,280 | 40,697 | Mil. 2010 KWD | Annual |
Nominal Fixed Investment (gross fixed capital formation) | 2009 | 5,479,000,000 | 6,985,000,000 | NCU | Annual |
Price | Reference | Last | Previous | Units | Frequency |
Wholesale Price Index | Sep 2020 | 138.1 | 138.1 | Index 2007=100, NSA | Monthly |
Consumer Price Index (CPI) | Sep 2020 | 117.3 | 117.1 | Index 2013=100, NSA | Monthly |
Producer Price Index (PPI) | Mar 2017 | 120.99 | 120.9 | Index 2005=100 | Monthly |
Labor | Reference | Last | Previous | Units | Frequency |
Agriculture Employment | 2017 | 79,308 | 77,550 | # | Annual |
Trade | Reference | Last | Previous | Units | Frequency |
Imports of Goods | 2020 Q3 | 2,037 | 1,888 | Mil. KWD, NSA | Quarterly |
Exports of Goods | 2020 Q3 | 3,131 | 1,978 | Mil. KWD, NSA | Quarterly |
Balance of Goods | 2020 Q3 | 1,093 | 90.1 | Mil. KWD, NSA | Quarterly |
Current Account Balance | 2019 | 6,722 | 6,008 | Mil. KWD, NSA | Annual |
Real Exports of Goods and Services | 2017 | 25,960 | 26,835 | Mil. 2010 KWD | Annual |
Exports of Goods and Services | 2017 | 18,269 | 15,745 | Mil. KWD | Annual |
Imports of Goods and Services | 2017 | 17,426 | 16,040 | Mil. KWD | Annual |
Real Net Exports | 2017 | 9,854 | 12,384 | Mil. 2010 KWD | Annual |
Net Exports | 2017 | 843.3 | -295.3 | Mil. KWD | Annual |
Real Imports of Goods and Services | 2017 | 16,105 | 14,450 | Mil. 2010 KWD | Annual |
Government | Reference | Last | Previous | Units | Frequency |
Outstanding Public Debt | Jun 2016 | 1,737 | 1,587 | Mil. KWD, NSA | Monthly |
Government Budget Balance | Dec 2015 | -431.9 | 86 | Mil. KWD, NSA | Monthly |
Government Revenues | Dec 2015 | 961 | 996.7 | Mil. KWD, NSA | Monthly |
Government Expenditures | Dec 2015 | 1,392 | 910.7 | Mil. KWD, NSA | Monthly |
Markets | Reference | Last | Previous | Units | Frequency |
Money Market Rate | 20 Apr 2021 | 1.5 | 1.5 | %, NSA | Daily |
Lending Rate | Mar 2021 | 1.5 | 1.5 | %, NSA | Monthly |
Average Long-term Government Bond | May 2016 | 2 | 2.25 | %, NSA | Monthly |
Treasury Bills (over 31 days) | Apr 2012 | 0.76 | %, NSA | Monthly | |
Business | Reference | Last | Previous | Units | Frequency |
Real Change in Inventories | 2018 | 0 | 0 | KWD | Annual |
Change in Inventories | 2005 | 425.2 | 562.1 | Mil. KWD | Annual |
Demographics | Reference | Last | Previous | Units | Frequency |
Population | 2019 | 4,776 | 4,622 | Ths. persons, NSA | Annual |
Net Migration | 2017 | 100,000 | # | Annual | |
Death Rate | 2016 | 2.74 | 2.68 | # per Ths. pop. | Annual |
Birth Rate | 2016 | 16.42 | 16.87 | # per Ths. pop. | Annual |