The economy of Kuwait is a wealthy petroleum-based economy. Kuwait is one of the richest countries in the world. The Kuwaiti dinar is the highest-valued unit of currency in the world. According to the World Bank, Kuwait is the fifth richest country in the world by gross national income per capita.
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Kuwait
Country in the Middle East
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Kuwait, officially the State of Kuwait, is a country in West Asia. It is situated in the northern edge of Eastern Arabia at the tip of the Persian Gulf, bordering Iraq to the north and Saudi Arabia to the south. Kuwait also shares maritime borders... Wikipedia
GDP growth rate: 8.9% annual change (2022)
Gross domestic product: 175.4 billion USD (2022)
GDP per capita: 41,079.52 USD (2022)
Gross national income: 286.9 billion PPP dollars (2022)
GNI per capita: 67,200 PPP dollars (2022)
Internet users: 99.7% of the population (2021)
Currency: Kuwaiti Dinar
Source: World Bank
Kuwait - Index of Economic Freedom - The Heritage Foundation
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Kuwait's economic freedom score is 58.5, making its economy the 90th freest in the 2024 Index of Economic Freedom. Its rating has increased by 1.8 points ...
Kuwait's Economy on the Eve of the Iraqi Invasion. Kuwait is a small economy with full capital mobility and an open trade regime. Prior to the Iraqi invasion, ...
In 2023, Kuwait's economy significantly decelerated following strong performance in 2022, with expectations of stabilization in the medium term.
Kuwait's economy in numbers: Nominal GDP of USD 183 billion in 2022. GDP per capita of USD 37,603 compared to the global average of USD 10,589. Average real GDP ...
Mar 18, 2024 · “The economy is likely to soften [in 2024] due to lower oil output, a slowdown in consumer spending, political gridlock and delayed reforms,” ...
Dec 30, 2023 · According to the Kuwait Central Statistical Bureau (KCBS), Kuwait's GDP in 2022 was US $305.5 billion. This represents an increase of 8.7% from ...
Economic Trivia. Kuwait has crude oil reserves of about 102 billion barrels - about 7% of world reserves. Trade Source: United Nations Comtrade
Benefiting from high oil prices, Kuwait's economic recovery continues, and inflation is contained. Non-oil GDP growth rose to 4.0 percent in 2022. This, ...
Mar 5, 2024 · The country's economic growth typically mirrors global energy market fluctuations. When oil prices were high in 2023, GDP recorded an 8.9% ...