
Kuwait
Benefiting from high global oil and gas prices
B1
LOW RISK for enterprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
Updated in November 2022.
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GDP | USD106bn (World ranking 64, World Bank 2021) |
Population | 4.3mn (World ranking 128, World Bank 2021) |
Form of state | Constitutional Emirate |
Head of state | Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah (Emir) |
Next elections | 2024, legislative |

- World’s seventh largest proven oil reserves.
- Strategic importance in troubled region and major non-NATO ally of the US.
- Sound Financial sector
- High income economy and net creditor status
- Strong oil and gas revenues generate large fiscal and current account surpluses during times of high oil prices and “excess” earnings are invested in foreign assets and/or used to supplement an oil account that is for the use of future generations.
- Low external obligations.
- Generally supportive business environment.

- Combative political system that can slow reforms and policy implementation.
- Exposure to oil price and output cycles contributes to growth volatility.
- Industry is capital intensive and job creation is weak for a growing population, with social repercussions as the unemployed seek alternative means to vent their frustrations.
- High degree of public ownership and control of oil and gas sectors results in a generally weak private sector.
- Vulnerability of oil installations and foreign personnel to attacks by extremists and terrorists.
- Regional volatility and uncertainty.
Trade structure by destination/origin
(% of total, 2021)
Exports | Rank | Imports |
---|---|---|
China
21.8%
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1 |
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Korea, Republic of
14.2%
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2 |
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India
13.2%
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3 |
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Japan
9.7%
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4 |
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Vietnam
5.6%
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5 |
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Trade structure by product
(% of total, 2021)
Exports | Rank | Imports |
---|---|---|
Petroleum, petroleum products and related materials
76.2%
|
1 |
11.6%
Road vehicles
|
Gas, natural and manufactured
7.9%
|
2 |
6.6%
Other industrial machinery and parts
|
Organic chemicals
5.0%
|
3 |
5.7%
Iron and steel
|
Plastics in primary forms
2.4%
|
4 |
5.2%
Telecommunication and sound recording apparatus
|
Other transport equipment
1.7%
|
5 |
5.0%
Electrical machinery, apparatus and appliances, n.e.s.
|
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