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Kuwait

Headline economic indicators for Kuwait, with the most recent official readings.

Prices

Prices — Kuwait
Indicator Value Change
Inflation rate · 2.4% -0.54 (-18.5%)
Consumer price index · 151.7 +3.50 (+2.4%)
GDP deflator inflation · -5.0% -3.51 (-240.3%)

GDP

GDP — Kuwait
Indicator Value Change
GDP growth rate · 2.7% +4.21 (+285.3%)
GDP per capita · 32,312.31 -543.41 (-1.7%)
GDP per capita, long-run history · 71,534 +5,115 (+7.7%)
GDP · 157,209,026,926.42 -3,694,079,713 (-2.3%)
GDP, PPP · 274,732,320,247 +14,592,753,991 (+5.6%)
GDP per capita, PPP · 56,468 +3,348 (+6.3%)
GDP per capita growth · 3.4% +5.76 (+244.6%)
GNI per capita · 41,110 -930.00 (-2.2%)
Agriculture to GDP · 0.5% +0.04 (+8.1%)
Industry to GDP · 54.1% -3.59 (-6.2%)
Manufacturing to GDP · 7.7% -0.22 (-2.8%)
Services to GDP · 59.6% +3.96 (+7.1%)
Household consumption to GDP · 41.6% +3.30 (+8.6%)
Gross capital formation to GDP · 15.1% -2.66 (-15.0%)
Gross savings to GDP · 44.1% -4.70 (-9.6%)

Labour

Labour — Kuwait
Indicator Value Change
Unemployment rate · 2.2% +0.03 (+1.4%)
Labour force participation rate · 73.4% -0.19 (-0.3%)
Female labour force participation rate · 47.2% -0.14 (-0.3%)
Youth unemployment rate · 15.1% -0.09 (-0.6%)
Employment to population ratio · 71.8% -0.21 (-0.3%)
Employment in agriculture · 1.9% -0.04 (-1.9%)
Employment in industry · 24.6% -0.11 (-0.4%)
Employment in services · 73.5% +0.14 (+0.2%)

Money

Money — Kuwait
Indicator Value Change
Real interest rate · 10.5% +3.79 (+56.3%)
Central bank policy rate · 3.5% -0.25 (-6.7%)
Broad money to GDP · 87.4% +5.04 (+6.1%)
Private sector credit to GDP · 4.9% +0.54 (+12.4%)
Lending rate · 5.0% -0.14 (-2.7%)
Bank deposit rate · 2.6% -0.09 (-3.2%)
Stock market capitalization to GDP · 109.5% +21.56 (+24.5%)
Bank nonperforming loans · 1.4% -0.14 (-9.0%)
Official exchange rate · 0.31 -0.00 (-0.1%)

Trade

Trade — Kuwait
Indicator Value Change
Current account to GDP · 22.7% -6.33 (-21.8%)
Exports to GDP · 55.8% -1.95 (-3.4%)
Imports to GDP · 38.2% -0.10 (-0.3%)
Trade to GDP · 94.0% -2.04 (-2.1%)
Exports of goods and services · 89,713,098,851.94 -5,762,266,156 (-6.0%)
Imports of goods and services · 61,521,205,382.62 -1,904,417,613 (-3.0%)
Trade balance, goods and services (annual) · 16,276,674,173.37 -11,912,209,634 (-42.3%)
Current account balance (annual) · 35,682,055,514.05 -11,020,543,925 (-23.6%)
Foreign direct investment to GDP · 0.3% -0.12 (-31.2%)
Remittances received to GDP · 0.0% +0.00 (+20.1%)
Total reserves, including gold · 51,737,963,291.57 +1,010,020,293 (+2.0%)
Reserves in months of imports · 8.4 -0.55 (-6.1%)

Government

Government — Kuwait
Indicator Value Change
Government revenue to GDP · 43.8% -1.74 (-3.8%)
Government expense to GDP · 34.6% +6.04 (+21.2%)
Tax revenue to GDP · 1.5% +0.32 (+27.2%)
Government budget balance to GDP · -5.6% -10.40 (-215.7%)
Government consumption to GDP · 25.8% +1.21 (+4.9%)
Education spending to GDP · 6.4% +1.41 (+28.0%)
Health spending to GDP · 5.0% +0.76 (+18.2%)

Demography

Demography — Kuwait
Indicator Value Change
Population · 4,865,298 -31,965 (-0.7%)
Population, long-run history · 3,061 +13.45 (+0.4%)
Population growth · -0.7% -1.55 (-172.8%)
Life expectancy · 84.6 +1.39 (+1.7%)
Fertility rate · 1.56 +0.04 (+2.4%)
Birth rate · 10.0 -0.28 (-2.7%)
Death rate · 1.5 -0.01 (-0.8%)
Urban population share · 100.0% +0.00 (+0.0%)
Population aged 65 and over · 3.2% +0.07 (+2.3%)
Under-five mortality rate · 8.1 -0.30 (-3.6%)
Population density · 274.8 +2.46 (+0.9%)
Net migration · 42,775 -18,849 (-30.6%)

Source: Bank for International Settlements (BIS). Translated titles are not official BIS translations.

Source: Bolt, J. and van Zanden, J.L. (2024), Maddison style estimates of the evolution of the world economy: A new 2023 update, Journal of Economic Surveys, 1-41, DOI 10.1111/joes.12618. Licensed under CC BY 4.0. The original sources are listed on each page.

All data sources

Original sources of these estimates

GDP pc: 2008 - 2022: Total Economy Database the Conference Board for all countries included in TED. Otherwise UN national accounts statistics

No separate list is published for Kuwait; the database as a whole is cited above.

Economies nearby

Comparable readings from neighbouring economies.