Kuwait economy

Middle East economic data

Bahrain	Kuwait	Oman
Qatar	Saudi Arabia	UAE

For more, go to our GCC economic data and Mena economic data pages

Kuwait economic indicators at a glance

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Kuwait nominal GDP

Kuwait GDP per capita

Kuwait GDP growth

Kuwait oil breakeven prices

Kuwait’s GDP fell during 2020 due to the Covid-19 pandemic and again in 2023 because of declining oil revenue. Nominal GDP remained little changed from 2023 to 2025 but will increase in 2027. 

Non-oil GDP grew by nearly 6 percent in 2021 but contracted subsequently. It is now rising again, according to the IMF. Kuwait’s breakeven oil price was estimated at $88 in 2024 but should ease to $80 in 2025.

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Kuwait inflation

Kuwait debt & current account balance

Kuwait’s annual inflation has been relatively steady since 2018 aside from a post-pandemic surge from 2021 to 2023. 

Government gross debt as a percentage of Kuwait’s GDP remained in single digits from 2021 to 2024 but will increase from 2025 onwards as government infrastructure expands as part of its economic development and diversification efforts. 

Kuwait’s current account balance is set to fall, from $63.1 billion in 2022 to less than half that figure in 2026, indicating imports will rise.

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Kuwait trade

Kuwait’s top 10 trade partners

Kuwait’s trading activity rebounded sharply following a steep drop during the height of the Covid-19 pandemic. 

Exports fell in 2024 to lower oil production, as did imports, but both should recover from 2025 onwards. Kuwait’s top exports include hydrocarbons and chemicals, while its biggest imports include vehicles, electronic equipment and precious stones and metals.

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Kuwait foreign direct investment

Kuwait credit ratings

Kuwait governance

Foreign direct investment into Kuwait has been negligible for the past decade. Outward FDI has been volatile, peaking in 2022 before falling again, because it is determined by Kuwait’s periodic acquisitions and investments abroad. 

The Kuwaiti government’s vast oil reserves and revenue and domestic and international assets underpin its high credit ratings.

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Kuwait population

Kuwait life expectancy

Kuwait employment

Kuwait's population growth rate varies markedly year to year. Its population fell during the pandemic and has yet to return to pre-pandemic levels. 

Unemployment spiked during the pandemic but has since normalised, with 2023 and 2024’s jobless rate the lowest in at least a decade.

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Expats in Kuwait

Kuwait expats’ country of origin

More than two thirds of Kuwait's residents are expats. More than a third of expats in Kuwait come from India, with high numbers also from Egypt and Bangladesh.

The charts and tables on this page are for general information purposes only. AGBI aims to keep the information up-to-date and correct, but makes no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability of the information. Any reliance you place on such information is therefore strictly at your own risk. All IMF, World Bank and United Nations data on this page is publicly available.

The latest IMF World Economic Outlook was published on April 25, 2025. The IMF says medium-term projections for all six GCC economies have been revised "based on developments in commodity markets and international trade as of April 4".