IMF........................................................WB...................................................CIA
rank/measure.....................................rank/measure.........................................rank/measure
23/33,687................................................--- ..............................................15/44,421
Kuwait is a small, relatively open economy with proven crude oil reserves of about 96 billion barrels (15.3 km3), i.e., about 10% of world reserves. Petroleum accounts for 43% of GDP, 87% of export revenues, and 75% of government income. Kuwait also export plant
fertilizers. Kuwait has little arable land, thus preventing reliance on the agriculture sector. Higher oil prices reduced the budget deficitfrom $5.5 billion to $3 billion in 1999, and prices are expected to remain relatively strong throughout the 2000s. It inaugurated Kuwait's first free-trade zone in 1999 and will continue discussions with foreign oil companies to develop fields in the northern part of the country. Kuwait has the second-most free economy in the Middle East.
Other industries include construction, cement, water desalination, agriculture, construction materials and financial services. Kuwait has a well-developed banking system. The National Bank of Kuwait is the largest bank in the country and one of the largest in the Arab world.The Kuwaiti currency is the highest-valued currency unit in the world.
 | |
| Currency | Kuwaiti dinar (KD) |
|---|---|
| Fiscal year | 1 April–31 March |
| Trade organisations | WTO and OPEC |
| Statistics | |
| GDP | $200.062 billion[1] |
| GDP growth | 8.1% (2008 est.) |
| GDP per capita | $84,309[1] |
| GDP by sector | agriculture (0.3%), industry (52.2%), services (47.5%) (2007 est.) |
| Inflation (CPI) | 2.5%[2] |
| Population below poverty line | NA |
| Labour force | 2.225 million |
| Labour force by occupation | N/A |
| Unemployment | 3.2% (2012 est.) |
| Main industries | petroleum, petrochemicals, cement,shipbuilding and repair, desalination, food processing, construction materials |
| Ease of doing business rank | 67th[3] |
| External | |
| Exports | $115.46 billion f.o.b. (2013 est.) |
| Export goods | oil and refined products, fertilizers |
| Main export partners |  South Korea 16.0% India 15.7% Japan 13.4% United States 11.7% China 9.2% Singapore 4.2% (2012 est.)[4] |
| Imports | $36.54 billion f.o.b. (2013 est.) |
| Import goods | food, construction materials, vehicles and parts, clothing |
| Main import partners | United States 11.8% China 9.2% Saudi Arabia 8.3% Japan 8.2% South Korea 7.0% Germany 5.1% Italy 4.7% India 4.6% United Arab Emirates 4.2% (2012 est.)[5] |
| Gross external debt | $38.82 billion (31 December 2008 est.) |
| Public finances | |
| Public debt | $14.21 billion (29.6% of GDP) (2004 est.) |
| Revenues | $113.3 billion (2008 est.) |
| Expenses | $63.55 billion (2008 est.) |
| Economic aid | N/A |
| Credit rating | Standard & Poor's:[6] AA- (Domestic) AA- (Foreign) AA+ (T&C Assessment) Outlook: Stable[7] Moody's:[7] Aa2 Outlook: Stable Fitch:[7] AA Outlook: Stable |
| Year | Gross Domestic Product | US Dollar Exchange | Inflation Index (2000=100) | Per Capita Income (as % of USA) |
|---|---|---|---|---|
| 1980 | 7,764 | 0.27 Kuwaiti Dinars | 55 | 171.08 |
| 1985 | 6,450 | 0.29 Kuwaiti Dinars | 68 | 71.58 |
| 1990 | 5,328 | 0.29 Kuwaiti Dinars | 80 | 37.00 |
| 1995 | 8,114 | 0.29 Kuwaiti Dinars | 92 | 62.14 |
| 2000 | 11,570 | 0.30 Kuwaiti Dinars | 100 | 48.92 |
| 2005 | 21,783 | 0.29 Kuwaiti Dinars | 108 | 64.35 |
