Basics of Kuwait’s Economy
GDP (2004 est.): $48 billion
Real GDP growth rate (2004 est.): 6.8%.
GDP - per capita: $21,300 (2004 est.)
GDP - composition by sector:
agriculture: 0.4%
industry: 60.5%
services: 39.1% (2004 est.)
Labor force: 1.42 million
note: non-Kuwaitis represent about 80% of the labor force (2004 est.)
Unemployment rate: 2.2% (2004 est.)
Inflation rate (consumer prices): 2.3% (2004 est.)
Investment (gross fixed): 8% of GDP (2004 est.)
Budget:
revenues: $35.82 billion
expenditures: $19.53 billion, including capital expenditures of NA (2004 est.)
Public debt:
29.6% of GDP (2004 est.)
Agriculture - products: practically no crops; fish
Industries: Petroleum, petrochemicals, cement, shipbuilding and repair,
desalination, food processing, construction materials
Oil
production: 2.319 million bbl/day (2004 est.)
consumption: 293,000 bbl/day (2003 est.)
exports: 1.97 million bbl/day (2003)
imports: NA
proved reserves: 96.5 billion bbl (2004 est.)
Natural gas
production: 8.7 billion cu m (2002 est.)
consumption: 8.7 billion cu m (2002 est.)
exports: 0 cu m (2002 est.)
imports: 0 cu m (2002 est.)
proven reserves: 1.548 trillion cu m (2004)
Current account balance: $12.04 billion (2004 est.)
Exports: $27.42 billion f.o.b. (2004 est.)
Exports - commodities: oil and refined products, fertilizers
Exports - partners:
Japan 22.6%, US 13.4%, South Korea 13.4%, Singapore 12.4%, Taiwan
8.4%, Netherlands 4.1% (2004)
Imports: $11.12 billion f.o.b. (2004 est.)
Imports - commodities: food, construction materials, vehicles and parts,
clothing
Imports - partners:
US 13.1%, Germany 12.7%, Japan 8.2%, China 5.9%, Italy 5.4%, UK 5.4%,
Saudi Arabia 4.7%, France 4.6% (2004)
Reserves of foreign exchange and gold: $7.333 billion (2004 est.)
Debt - external: $15.02 billion (2004 est.)
Currency: Kuwaiti dinar (KD)
GDP (2004 est.): $48 billion
Real GDP growth rate (2004 est.): 6.8%.
GDP - per capita: $21,300 (2004 est.)
GDP - composition by sector:
agriculture: 0.4%
industry: 60.5%
services: 39.1% (2004 est.)
Labor force: 1.42 million
note: non-Kuwaitis represent about 80% of the labor force (2004 est.)
Unemployment rate: 2.2% (2004 est.)
Inflation rate (consumer prices): 2.3% (2004 est.)
Investment (gross fixed): 8% of GDP (2004 est.)
Budget:
revenues: $35.82 billion
expenditures: $19.53 billion, including capital expenditures of NA (2004 est.)
Public debt:
29.6% of GDP (2004 est.)
Agriculture - products: practically no crops; fish
Industries: Petroleum, petrochemicals, cement, shipbuilding and repair,
desalination, food processing, construction materials
Oil
production: 2.319 million bbl/day (2004 est.)
consumption: 293,000 bbl/day (2003 est.)
exports: 1.97 million bbl/day (2003)
imports: NA
proved reserves: 96.5 billion bbl (2004 est.)
Natural gas
production: 8.7 billion cu m (2002 est.)
consumption: 8.7 billion cu m (2002 est.)
exports: 0 cu m (2002 est.)
imports: 0 cu m (2002 est.)
proven reserves: 1.548 trillion cu m (2004)
Current account balance: $12.04 billion (2004 est.)
Exports: $27.42 billion f.o.b. (2004 est.)
Exports - commodities: oil and refined products, fertilizers
Exports - partners:
Japan 22.6%, US 13.4%, South Korea 13.4%, Singapore 12.4%, Taiwan
8.4%, Netherlands 4.1% (2004)
Imports: $11.12 billion f.o.b. (2004 est.)
Imports - commodities: food, construction materials, vehicles and parts,
clothing
Imports - partners:
US 13.1%, Germany 12.7%, Japan 8.2%, China 5.9%, Italy 5.4%, UK 5.4%,
Saudi Arabia 4.7%, France 4.6% (2004)
Reserves of foreign exchange and gold: $7.333 billion (2004 est.)
Debt - external: $15.02 billion (2004 est.)
Currency: Kuwaiti dinar (KD)
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Business And Economy In The State of Kuwait
