Kuwait vs Euro area
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Economy power of Kuwait & Euro area
World Rank 46
3.41
The State of Kuwait is a country located in Western Asia. However, because of its localization on the northern edge of Eastern Arabia, it is quite often connected with the region of the Middle East. The largest city of the state is Kuwait City, and it is at the same time its capital. In terms of neighbours, they share borders with Iraq (the nation that invaded them in 1990) and Saudi Arabia. Interestingly, due to large oil reserves (considered to be the sixth largest in the world), the importance of the region for the developed country is quite substantial.
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The euro area (eurozone) is a monetary union of 19 member states of the European Union that have the euro as their primary currency.
List of member states: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.
Andorra, Monaco, San Marino, and Vatican City have formal agreements with the EU to use the euro as their official currency.
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