Kuwait Economic Outlook
October 2, 2018The economy grew 1.9% year-on-year in Q2, rebounding from a revised contraction in Q1 thanks to the non-oil sector as the oil sector declined despite higher oil prices. In July–August, the country raised oil production ahead of U.S. sanctions on Iran effective 4 November, boding well for the performance of the oil sector in Q3. To attract more foreign capital and improve the investment environment, the government continues to modernize the country’s stock exchange, with Boursa Kuwait recently being included in the FTSE emerging-market index.
Kuwait Economic GrowthThe economy should grow this year and next, thanks to higher oil prices and production. An infrastructure investment push will likely buttress the economy further. However, slow diversification progress could drag on long-term prospects. Met the why particular panelists expect growth of 2.6% in 2018 and 3.4% in 2019, up 0.1 percentage points from last month.
Kuwait Economy Data
|GDP per capita (USD)||44,488||11,248||27,014||25,859||27,260|
|GDP (USD bn)||173||163||115||111||120|
|Economic Growth (GDP, annual variation in %)||1.2||0.5||0.6||3.5||-2.9|
|Consumption (annual variation in %)||5.6||2.6||1.5||4.8||-|
|Investment (annual variation in %)||8.9||4.5||15.5||2.0||-|
|Fiscal Balance (% of GDP)||22.2||19.9||-11.9||-||-|
|Inflation Rate (CPI, annual variation in %)||2.7||2.9||3.3||3.2||1.5|
|Policy Interest Rate (%)||2.00||2.00||2.25||2.50||2.75|
|Exchange Rate (vs USD)||0.28||0.29||0.30||0.31||0.30|
|Exchange Rate (vs USD, aop)||0.28||0.28||0.30||0.30||0.30|
|Current Account (% of GDP)||11.3||33.8||3.5||-4.5||6.3|
|Current Account Balance (USD bn)||69.8||55.0||4.0||-5.0||7.6|
|Trade Balance (USD billion)||89.6||78.3||27.8||20.1||23.5|
|Exports (USD billion)||115||116||54.2||46.6||55.0|
|Imports (USD billion)||25.4||27.3||26.4||26.4||31.5|
|Exports (annual variation in %)||-3.8||-8.2||-48.7||-14.1||18.2|
|Imports (annual variation in %)||4.9||7.2||-3.1||0.1||19.2|
|International Reserves (USD)||29.5||32.2||28.4||31.1||33.7|
|External Debt (% of GDP)||11.4||14.7||32.6||37.2||-|
5 years of Kuwait economic forecasts for more than 30 economic indicators.
Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.
|Exchange Rate||0.30||-0.05 %||Oct 18|
Start Your Free Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.