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Kuwait - Trade & Marketing Information
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ALIGN="RIGHT" SRC="/cgtd/global/mideast/kuwait.gif"> Kuwait - key economic data 

Economy Overview:

    Kuwait is a small and relatively open economy with proved crude oil reserves
    of about 94 billion barrels - 10% of world reserves. Kuwait has rebuilt its
    war-ravaged petroleum sector; its crude oil production reached at least 2.0
    million barrels per day by the end of 1993. The government ran a sizable
    fiscal deficit in 1993. Petroleum accounts for nearly half of GDP and 90% of
    export and government revenues. Kuwait lacks water and has practically no
    arable land, thus preventing development of agriculture. With the exception
    of fish, it depends almost wholly on food imports. About 75% of potable
    water must be distilled or imported. Because of its high per capita income,
    comparable with Western European incomes, Kuwait provides its citizens with
    extensive health, educational, and retirement benefits. Per capita military
    expenditures are among the highest in the world. The economy improved
    moderately in 1994, with the growth in industry and finance, and should see
    further gains in 1995, especially if oil prices go up. The World Bank has
    urged Kuwait to push ahead with privatization, including in the oil
    industry, but the government will move slowly on this front.


National product:
    GDP - purchasing power parity - $30.7 billion (1994 est.)
National product real growth rate:
    9.3% (1994 est.)
National product per capita:
    $16,900 (1994 est.)
Inflation rate (consumer prices):
    3% (1993)
Unemployment rate:
    NEGL% (1992 est.)
Budget:
  revenues:
    $9 billion
  expenditures:
    $13 billion, including capital expenditures of $NA (FY92/93)



Industrial production:

    growth rate NA%; accounts for NA% of GDP
Electricity:
  capacity:
    7,070,000 kW
  production:
    11 billion kWh
  consumption per capita:
    6,007 kWh (1993)



Economic Activity


Industries:

    petroleum, petrochemicals, desalination, food processing, building
    materials, salt, construction

Agriculture:
    practically none; extensive fishing in territorial waters and Indian Ocean

Economic aid donor:
    pledged bilateral aid to less developed countries (1979-89), $18.3 billion
Currency:
    1 Kuwaiti dinar (KD) = 1,000 fils
Exchange rates:
    Kuwaiti dinars (KD) per US$1 - 0.2991 (January 1995)
Fiscal year:
    1 July - 30 June
Kuwait - key foreign trade data 



Exports:

    $10.5 billion (f.o.b., 1993)
  Commodities:
    oil
   Major Trade Partners::
    France 16%, Italy 15%, Japan 12%, UK 11%



Imports:

    $6.6 billion (f.o.b., 1993)
  Commodities:
    food, construction materials, vehicles and parts, clothing
   Major Trade Partners::
    US 35%, Japan 12%, UK 9%, Canada 9%
External debt:
    $7.2 billion (December 1989 est.)
Kuwait - Trade, Industry & Marketing information

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