World Factbook
Kuwait
Dawlat al Kuwayt
Last updated: 2026-03-28 (today)
Budget
note
note: central government revenues and expenses (excluding grants and social security funds) converted to US dollars at average official exchange rate for year indicated
revenues
$44.254 billion (2015 est.)
expenditures
$59.584 billion (2015 est.)
Exports
note
note: balance of payments - exports of goods and services in current dollars
Exports 2022
$110.923 billion (2022 est.)
Exports 2023
$95.476 billion (2023 est.)
Exports 2024
$89.71 billion (2024 est.)
Imports
note
note: balance of payments - imports of goods and services in current dollars
Imports 2022
$55.909 billion (2022 est.)
Imports 2023
$63.43 billion (2023 est.)
Imports 2024
$61.521 billion (2024 est.)
Industries
petroleum, petrochemicals, cement, shipbuilding and repair, water desalination, food processing, construction materials
Labor force
3.003 million (2024 est.)
note: number of people ages 15 or older who are employed or seeking work
Public debt
Public debt 2016
9.9% of GDP (2016 est.)
Remittances
note
note: personal transfers and compensation between resident and non-resident individuals/households/entities
Remittances 2022
0% of GDP (2022 est.)
Remittances 2023
0% of GDP (2023 est.)
Remittances 2024
0% of GDP (2024 est.)
Exchange rates
Currency
Kuwaiti dinars (KD) per US dollar -
Exchange rates 2020
0.306 (2020 est.)
Exchange rates 2021
0.302 (2021 est.)
Exchange rates 2022
0.306 (2022 est.)
Exchange rates 2023
0.307 (2023 est.)
Exchange rates 2024
0.307 (2024 est.)
Economic overview
small, high-income, oil-based Middle East economy; renewable energy proponent; regional finance and investment leader; maintains oldest sovereign wealth fund; emerging space and tourism industries; mid-way through 25-year development program
Unemployment rate
note
note: % of labor force seeking employment
Unemployment rate 2022
2.2% (2022 est.)
Unemployment rate 2023
2.2% (2023 est.)
Unemployment rate 2024
2.2% (2024 est.)
Exports - partners
China 25%, India 13%, Japan 13%, Taiwan 7%, UK 5% (2023)
note: top five export partners based on percentage share of exports
Imports - partners
China 18%, UAE 10%, USA 9%, Saudi Arabia 6%, Japan 6% (2023)
note: top five import partners based on percentage share of imports
Real GDP per capita
note
note: data in 2021 dollars
Real GDP per capita 2022
$51,400 (2022 est.)
Real GDP per capita 2023
$47,800 (2023 est.)
Real GDP per capita 2024
$45,400 (2024 est.)
Real GDP growth rate
note
note: annual GDP % growth based on constant local currency
Real GDP growth rate 2022
6.8% (2022 est.)
Real GDP growth rate 2023
-1.7% (2023 est.)
Real GDP growth rate 2024
-2.6% (2024 est.)
Agricultural products
dates, eggs, milk, tomatoes, chicken, lamb/mutton, cucumbers/gherkins, vegetables, maize, eggplants (2023)
note: top ten agricultural products based on tonnage
Exports - commodities
crude petroleum, refined petroleum, natural gas, hydrocarbons, plastics (2023)
note: top five export commodities based on value in dollars
Imports - commodities
cars, natural gas, garments, broadcasting equipment, packaged medicine (2023)
note: top five import commodities based on value in dollars
Current account balance
note
note: balance of payments - net trade and primary/secondary income in current dollars
Current account balance 2022
$63.078 billion (2022 est.)
Current account balance 2023
$51.396 billion (2023 est.)
Current account balance 2024
$46.703 billion (2024 est.)
GDP (official exchange rate)
$160.227 billion (2024 est.)
note: data in current dollars at official exchange rate
GDP - composition, by end use
note
note: figures may not total 100% due to rounding or gaps in data collection
household consumption
32.6% (2022 est.)
government consumption
20.7% (2022 est.)
investment in inventories
0.8% (2022 est.)
investment in fixed capital
16.1% (2022 est.)
exports of goods and services
60.4% (2022 est.)
imports of goods and services
-30.5% (2022 est.)
Average household expenditures
on food
19.2% of household expenditures (2023 est.)
on alcohol and tobacco
0.2% of household expenditures (2023 est.)
Inflation rate (consumer prices)
note
note: annual % change based on consumer prices
Inflation rate (consumer prices) 2022
4% (2022 est.)
Inflation rate (consumer prices) 2023
3.6% (2023 est.)
Inflation rate (consumer prices) 2024
2.9% (2024 est.)
Industrial production growth rate
-5.2% (2024 est.)
note: annual % change in industrial value added based on constant local currency
Real GDP (purchasing power parity)
note
note: data in 2021 dollars
Real GDP (purchasing power parity) 2022
$235.815 billion (2022 est.)
Real GDP (purchasing power parity) 2023
$231.884 billion (2023 est.)
Real GDP (purchasing power parity) 2024
$225.947 billion (2024 est.)
Youth unemployment rate (ages 15-24)
male
9.3% (2024 est.)
note
note: % of labor force ages 15-24 seeking employment
total
15.4% (2024 est.)
female
28.9% (2024 est.)
Reserves of foreign exchange and gold
note
note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Reserves of foreign exchange and gold 2022
$52.462 billion (2022 est.)
Reserves of foreign exchange and gold 2023
$52.619 billion (2023 est.)
Reserves of foreign exchange and gold 2024
$50.728 billion (2024 est.)
GDP - composition, by sector of origin
note
note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data
industry
57.1% (2024 est.)
services
55.9% (2024 est.)
agriculture
0.5% (2024 est.)