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CompareEconomy.com Comparison of world economies

Kuwait

World Rank Kuwait flag svg
Capital
Area
Currency
Kuwait City
17,818 km 2
Kuwaiti dinar (KWD)

Table of Contents

Introduction

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.

Economy

Due to the economic crisis in 2014-2016, the GDP of Kuwait was dramatically weakened since it dropped by 35%. However, the crisis concerned most of the nations in the Middle East and North Africa. As of 2019, their GDP is $219 billion.

It is important to remember that in terms of GDP per capita, the values are much higher than in the case of many other locations not only in the region, but also in the world. The value of $52,000 is much higher than the average in the Middle East and North Africa ($17,000), and even slightly higher than in Europe ($46,000).

Gross domestic product (GDP, GDP PPP)

Gross domestic product (GDP)

  • Last
  • Historical chart
#61 (2020)
105,960,225,688 US$

List of countries by GDP

(United States of America (USA))

Gross domestic product growth rate

Gross domestic product per capita

Gross domestic product (PPP)

Gross domestic product (PPP) per capita

International trade (Export, Import)

External balance on goods and services

  • Last
  • Historical chart
#29 (2019)
11,445,868,577 US$

List of countries by external balance on goods and services

(China)

External balance on goods and services (% of GDP)

Exports of goods and services (current US$)

Exports of goods and services (% of GDP)

Imports of goods and services (current US$)

Imports of goods and services (% of GDP)

Employment by sector, Unemployment

Unemployment (% of total labor force)

  • Last
  • Historical chart
#154 (2021)
2.82 %

List of countries by unemployment

(South Africa)

Employment in agriculture (% of total employment)

Employment in industry (% of total employment)

Employment in services (% of total employment)

Vulnerable employment (% of total employment)