Includes historical data for Kuwait’s Gross Domestic Product growth, debt-to-GDP ratio, plus information on trade, banking and financial sector leadership.

In Partnership With

Seeking Diversity for Kuwait GDP

A powerhouse in the global oil and natural gas markets, Kuwait controls respectively about 7% and 1% of the world’s reserves, accounting together for more than half of the country’s GDP and over 90% of its export revenues. 

To diversify its economy, the government has launched the Vision 2035 project, which aims to reduce Kuwait’s dependence on hydrocarbon revenues and create a hub for finance and commerce. To that end, Kuwait has taken steps to improve its business environment and regulatory framework, but the lack of deeper financial and social reforms has slowed the pace of progress. The nation’s heavy reliance on imported goods and services poses an additional challenge.

Kuwait GDP & Economic Overview

Macroeconomy & Sovereign Data

Type of Government Parliamentary republic
Capital Kuwait City
Sovereign Ratings Moody’s A1
Fitch AA–
S&P A+
Total Population 4.9 million
Median Age 39.8
Adult Per Capita Income (PPP) USD 82,333
Total GDP (2023) USD 165 billion

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Banking & Finance


Central Bank Central Bank of Kuwait
Currency Kuwaiti dinar (KWD)
International Reserves USD 52 billion
Stock Exchange Boursa Kuwait

Leadership Insights: Q&A With Kuwait Central Bank Governor Basel Al-Haroon

Basel Al-Haroon took his position as head of the Central Bank of Kuwait (CBK) in April 2022. The war in Ukraine has led to a spike in oil prices which, in turn, has bolstered Kuwait’s energy-based economy…

Trade & Investment

Total Exports USD 33 billion (2022)
Leading Exports Natural gas
Crude petroleum
Refined petroleum
Industrial hydrocarbon products
Industrial alcohols
Total Imports USD 84 billion (2022)

Leading Imports Cars
Broadcasting equipment
Natural gas
Packaged medicines

Source: World Integrated Trade Solution

Kuwait Leading Companies

Kuwait Finance House Finance
National Bank of Kuwait Finance
Kuwait Petroleum Corporation Energy
Zain Group Telecommunications
Agility Logistics Diversified
Alghanim Industries Diversified

Major Trade Partners – Import

China 18%
United Arab Emirates 12%
United States 8%
Japan 6%
Saudi Arabia 5%

Source: World Integrated Trade Solution

Major Trade Partners – Export

Other, unspecified 92%
United Arab Emirates 1%
Saudi Arabia 1%
China 1%
India 1%

Source: World Integrated Trade Solution

In Partnership With

Established in 2004, Boubyan Bank is well-known for its award-winning customer service and rapid nationwide growth. However, what really sets the bank apart is our strong sense of community and for being a first-mover in cutting-edge digital banking facilities. Today, the bank offers the full range of financial services including personal banking, private banking, and business banking, as well as feature-loaded credit cards, competitive consumer loans, housing financing, and investments. 

Boubyan Bank was founded by Emiri Decree No. 88, Boubyan Bank is a Shari’a compliant financial institution and is the first Shari’a compliant licensed under the Law of Islamic Banks no. 33 of 2003.

The bank is a publicly traded company listed on Boursa Kuwait in May 2006. Major shareholders include National Bank of Kuwait (NBK). 

Data Sources:

IMF World Economic Outlook

UN World Population Prospects

World Inequality Report

S&P Global Ratings


Fitch Ratings

IMF Direction of Trade Statistics (DOTS)

UN Conference on Trade and Development (UNCTAD)

CIA The World Factbook

World Bank’s World Integrated Trade Solution

Forbes Global 2000