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ECON FACTBOOK

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Economy of Kuwait

Population: 3.4 million in 20131

GDP: $183 billion in 20122

GDP per capita: $52,197 nominal3 ($85,659 PPP4) in 2012

GDP growth rate: 8.3% in 20125

Industries

GDP by Industry 20126

Industry sectorValue added ($ billions) 2012Percent of total
Mining and utilities10060.2%
Other activities4124.4%
Transport, storage and communication85.0%
Manufacturing84.9%
Wholesale, retail trade, restaurants and hotels63.5%
Construction31.7%
Agriculture, hunting, forestry, fishing00.3%
Total value added166100%

Employment

Unemployment rate: 3.1% in 20137

Employment by Industry

N/A

Corporations

Top 10 Corporations by Revenue 20138

N/A

Households

Household Wealth: $284 billion (155% of GDP) in 20149

Household Wealth per Adult: $122,688 in 20149

Gini Coefficient: N/A

Government

Central Government

Central Government Revenue: $114 billion (62% of GDP) in 201310

Central Government Expenditure: $62 billion (34% of GDP) in 201310

Central Government Budget Balance: +$52 billion (+28% of GDP) in 201310

Central Government Public Debt: $5 billion (3% of GDP) in Nov 2014* 11

Central Government 10 Year Bond Interest Rate: N/A

* Public debt calculated using the exchange rate 0.295 KWD = 1 USD

Government Funds

Kuwait Investment Authority: $355 billion (194% of GDP) in 201412

Tax Structure

Individual Income Tax Rates and Thresholds in 201213

Corporate Tax Rate: 15% in 201414

Monetary Policy

Money Supply (M1): $33 billion (18% of GDP) in Nov 2014* 15

Benchmark Interest Rate: Discount Rate = 2% on Jan 28, 201516

Total Reserves: $32 billion (1% of GDP) in 201317

Exchange Rate: 0.295 Kuwaiti Dinars = 1 U.S Dollar on Jan 28, 201518

Inflation: 2.6% in 201319

* Money supply calculated using the exchange rate 0.295 KWD = 1 USD

Financial Institutions

Top 10 Financial Institutions by Assets 201320

N/A (data not available at Relbanks.com)

International Accounts

Exports: $112 billion (61% of GDP) in 201321

Imports: $24 billion (13% of GDP) in 201321

Trade Balance: +$92 billion (+48% of GDP) in 21321

Foreign Direct Investment Inflow: $1.8 billion (1% of GDP) in 201322

Foreign Direct Investment Outflow: N/A

Foreign Aid Inflow: N/A

Foreign Aid Outflow: $149 million (0.1% of GDP) in 2012 23

References

1. Source: World Bank Indicators (Population) Go back
2. Source: World Bank Indicators (GDP) Go back
3. Source: World Bank Indicators (GDP per capita) Go back
4. Source: World Bank Indicators (GDP per capita PPP) Go back
5. Source: World Bank Indicators (GDP growth rate) Go back
6. Source: United Nations Statistics Division (GDP by industry) Go back
7. Source: World Bank Indicators (Unemployment rate) Go back
8. Source: Annual reports (Corporate data) Go back
9. Source: Credit Suisse Global Wealth Databook (Household wealth) Go back
10. Source: CIA World Factbook (Government budget) Go back
11. Source: Central Bank of Kuwait, Monthly Statistical Release, Public Debt Instruments (Public debt) Go back
12. Source: ESADE Sovereign Wealth Funds (Government Funds) Go back
13. Source: PKF Tax Guide (Individual tax rates) Go back
14. Source: Tax Foundation (Corporate tax rate) Go back
15. Source: Central Bank of Kuwait, Statistics, Statistical Releases, Monthly (Money supply) Go back
16. Source: Central Bank of Kuwait (Benchmark interest rate) Go back
17. Source: World Bank Indicators (Total reserves) Go back
18. Source: Yahoo Finance (Exchange rate) Go back
19. Source: World Bank Indicators (Inflation rate) Go back
20. Source: Relbanks.com (Financial institutions by assets) Go back
21. Source: CIA World Factbook (Trade data) Go back
22. Source: World Bank Indicators (FDI data) Go back
23. Source: Global Humanitarian Assistance (Aid data) Go back