KUWAIT

ECONOMIC OVERVIEW

KUWAIT
 ECONOMIC STATISTICS
• Lo cati on : Kuwai t i s lo cat ed in th e Mid dl e East ,
b ordered by Iraq an d Sa ud i Arab ia.
• Pop ul ati on :- 4 ,31 0,10 8

Top Import
Top Export

Gross Domestic Product

(GDP) Review and Editing

Crude Petroleum Cars ($2.84B),

($40.1B), Refined Petroleum Gas
Petroleum ($7.57B), ($2.13B), Gold
Petroleum Gas • 2012: $178.5 billion ($1.06B), importing
($2.62B), exporting • 2017: $120.1 billion mostly from China
mostly to China ($16B). • 2021: $164.7 billion ($5B)
 CHANGE IN GDP OVER 10 YEARS
200 billion

150 billion
Drivers for
• Fluctuating Oil Prices: High
Changeon oil exports affects
de pendency
GDP growth. 100 billion
• Global Economic Conditions:
External fac tors impa cting the
economy. 50 billion
• Government Polic ies: Reforms
and initiatives supporting
economic growth. 0 billion

17
12

21
13

15

18
16

19
14

20
20
20

20
20

20

20
20

20
20

20
 GDP CHANGES VS GDP PER CAPITA
50,000
Comparison Key Observations
• 2 0 1 2 - 2 0 1 6 : W h ile G D P d eclin ed • The r edu ction in per cap ita
40,000
b y 3 2 % G D P p er Cap ita also incom e reflects the imp act o f th e
ex p er ien ced a n o tab le d ecr ease econ om ic d o wn tu rn
30,000
o f 3 4 %. • Eco no mic instability h ad a
• 2 0 1 6 - 2 0 1 8 : G D P in cr eased b y d irect im pact o n th e in d iv idu al
20,000 1 3 %. G D P p er Cap ita p o sitiv ely wealth an d p rosp erity o f Kuw aiti
ch an g e o f 1 3 % citizen s.
10,000
• 2 0 1 8 - 2 0 2 0 : Th e f lu ctu atio n s in • The in crem en t in b oth GDP an d
G D P an in cr ease o f 2 7 % in 2 0 1 8 GDP per Cap ita in d icates an
& d ecr ease o f 1 9 % in 2 0 2 0 imp rov em ent in the stand ard of
0
2012 2014 2016 2018 2020 aff ected G D P p er Cap ita, w ith a liv ing for th e po p ulation .
GDP per capita in Kuwait has been r elativ ely stag n an t ch an g e o f -
declining since 2012 18%
GDP OUTLOOK

• FUTURE PROJECTIONS:
The World Bank projects that Kuwait's GDP will grow by 2.8% in 2023
and 3. 0% in 2024.

• KEY FACTORS INFLUENCING OUTLOOK:

• Global Oil Prices
• Economic Diversification Efforts
• Government Initiatives
CONCLUSION

Kuwait heavily relies on oil exports,

making its economy susceptible to oil price
fluctuations.

Economic growth over the last decade has

been influenced by global conditions and
government policies.

Diversification efforts are crucial for

economic stability and long-term growth.