Kuwait economy

Kuwait economic indicators at a glance

Kuwait nominal GDP

Kuwait GDP per capita

Kuwait GDP growth

Kuwait oil breakeven prices

Kuwait’s GDP fell in 2020 due to the Covid-19 pandemic and again in 2023 because of declining oil revenues. Nominal GDP remained little changed from 2023 to 2025 but is expected to 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.

Kuwait inflation

Kuwait debt & current account balance

Kuwait’s annual inflation has been relatively steady since 2018 aside from a post-pandemic surge in 2021-23. 

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 the government plans infrastructure expansions as part of its economic development efforts. 

Kuwait’s current account balance is set to fall, from $63.1 billion in 2022 to just under $40 billion in 2026, indicating that imports will rise.

Kuwait trade

Kuwait’s top 10 trade partners

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

Exports fell in 2024 because of 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.

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 domestic and international assets underpin its high credit ratings.

Kuwait population

Kuwait life expectancy

Kuwait employment

Kuwait's population growth rate varies markedly year to year. Its population fell during the pandemic but increases of more than 5 percent in 2022 and 2023 have lifted the total above pre-pandemic levels. 

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

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.

More economic indicators

The UAE

Saudi Arabia

All GCC countries

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 October 14, 2025