You are here > 1Up Travel > Countries of the World > Middle East > Kuwait



 Country Facts









  Maps & Cities

  Transnational issues


  Kuwait Guide
  Kuwait Maps
  Kuwait Flag
  More Kuwait Flags
  Kuwait Geography
  Kuwait Travel Warning

Travel & Tourism . Tourist Guide to the Country

Kuwait Economy

Kuwait    Economy Top of Page
Economy - overview: Kuwait is a small, relatively open economy with proved crude oil reserves of about 94 billion barrels - 10% of world reserves. Petroleum accounts for nearly half of GDP, 90% of export revenues, and 75% of government income. Kuwait's 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. Higher oil prices put the FY99/00 budget into a $2 billion surplus. The FY00/01 budget covers only nine months because of a change in the fiscal year. The budget for FY01/02, which begins 1 April, contains higher expenditures for salaries, construction, and other general categories. Kuwait continues its discussions with foreign oil companies to develop fields in the northern part of the country.
GDP: purchasing power parity - $29.3 billion (2000 est.)
GDP - real growth rate: 6% (2000 est.)
GDP - per capita: purchasing power parity - $15,000 (2000 est.)
GDP - composition by sector: agriculture:  0%

industry:  55%

services:  45% (1996)
Population below poverty line: NA%
Household income or consumption by percentage share: lowest 10%:  NA%

highest 10%:  NA%
Inflation rate (consumer prices): 3% (2000)
Labor force: 1.3 million (1998 est.)

note:  68% of the population in the 15-64 age group is non-national (July 1998 est.)
Labor force - by occupation: agriculture NA%, industry NA%, services NA%
Unemployment rate: 1.8% (official 1996 est.)
Budget: revenues:  $11.5 billion

expenditures:  $17.2 billion, including capital expenditures of $NA (FY01/02)
Industries: petroleum, petrochemicals, desalination, food processing, construction materials
Industrial production growth rate: 1% (1997 est.)
Electricity - production: 31.567 billion kWh (1999)
Electricity - production by source: fossil fuel:  100%

hydro:  0%

nuclear:  0%

other:  0% (1999)
Electricity - consumption: 29.357 billion kWh (1999)
Electricity - exports: 0 kWh (1999)
Electricity - imports: 0 kWh (1999)
Agriculture - products: practically no crops; fish
Exports: $23.2 billion (f.o.b., 2000 est.)
Exports - commodities: oil and refined products, fertilizers
Exports - partners: Japan 23%, US 12%, Singapore 8%, Netherlands 7% (1999)
Imports: $7.6 billion (f.o.b., 2000 est.)
Imports - commodities: food, construction materials, vehicles and parts, clothing
Imports - partners: US 15%, Japan 10%, UK 7%, Germany 7% (1999)
Debt - external: $6.9 billion (2000 est.)
Economic aid - recipient: $27.6 million (1995)
Currency: Kuwaiti dinar (KWD)
Currency code: KWD
Exchange rates: Kuwaiti dinars per US dollar - 0.3057 (January 2001), 0.3067 (2000), 0.3044 (1999), 0.3047 (1998), 0.3033 (1997), 0.2994 (1996)
Fiscal year: 1 April - 31 March


Countryfacts Information Courtesy: CIA Worldbook

Make 1Up Travel your HomepageSend this Page to a FriendGo to Top of PagePrint this PageAdd 1Up Travel to your Favorites


Compare Country Info Hotel Directory Geography Flags World Maps Travel Warnings National Parks


Asia Africa Caribbean Middle East North America South America Central America Oceania Pacific Europe Polar Regions


Destinations Monuments Ancient Wonders Modern Wonders Natural Wonders


World Time ISD Codes Travel Links Link Exchange


Disclaimer: Although we've tried to make the information on this web site as accurate as possible, we accept no responsibility for any loss, injury or inconvenience sustained by any person resulting from information published on this site. We encourage you to verify any critical information with the relevant authorities before you travel.

Copyright 1Up Travel All Rights Reserved.
Go Up

Privacy Policy