Kuwait

Description of Kuwait

Welcome to our website dedicated to providing in-depth analysis of Kuwait's geopolitical and macroeconomic landscape. As a key player in the Middle East region, Kuwait's strategic location, abundant oil reserves, and unique political dynamics make it a fascinating subject of study. Through examining a range of macroeconomic statistics and geopolitical trends, we aim to shed light on the various factors shaping Kuwait's development and its role in the global arena. Join us as we delve into the complexities of Kuwait's economy, society, and foreign relations to gain a comprehensive understanding of this influential nation.

Population And Age Structure

Population, total: Kuwait's population of 4,360,444 is significantly below the average population of 40,097,746 (rank 126 out of 194 countries).

Population ages 0-14 (% of total population): Kuwait's percentage of population ages 0-14 at 20.97% is below the average of 27.34% (rank 119 out of 194 countries).

Population ages 0-14, total: With a total of 914,573 in this age group, Kuwait is below the average of 10,327,380 (rank 127 out of 194 countries).

Population ages 15-64 (% of total population): Kuwait's percentage of population ages 15-64 at 75.04% exceeds the average of 63.44% (rank 4 out of 194 countries).

Population ages 15-64, total: Kuwait's total population ages 15-64 stands at 3,272,155, below the average of 26,003,407 (rank 119 out of 194 countries).

Population ages 65 and above (% of total population): With 3.98% of its population in this age group, Kuwait is below the average of 9.22% (rank 138 out of 194 countries).

Population ages 65 and above, total: Kuwait's total population ages 65 and above is 173,716, well below the average of 3,766,959 (rank 134 out of 194 countries).

Summary

Kuwait has a relatively small population compared to the global average, with a significant percentage of its population falling in the working-age bracket (15-64 years) and a lower proportion of children (0-14 years) and elderly (65 and above). This demographic structure indicates a potential demographic dividend for Kuwait due to a higher percentage of working-age individuals who can contribute to economic growth and productivity. However, it also highlights the need for policies that support the aging population and promote sustainable economic development in the long run.

Population Miscellaneous

For Urban population, Kuwait has a value of 4,360,444, ranking 99 out of 194 countries. This is below the attribute average of 22,425,747.38.

Urban population (% of total population) in Kuwait is 100%, which is significantly above the average of 59.69%. Kuwait ranks 1 out of 194 countries for this attribute.

The Age dependency ratio (% of working-age population) in Kuwait is 33.26%, placing it at rank 191 out of 194 countries. This is below the attribute average of 59.22%.

Kuwait's Birth rate is 11.797 per 1,000 people, below the average of 19.38. Kuwait ranks 134 out of 192 countries in this aspect.

Regarding Death rate, Kuwait has a rate of 3.254 per 1,000 people, below the average of 8.21. The country ranks 186 out of 192 countries for this statistic.

For Fertility rate, Kuwait's value is 2.14 births per woman, ranking 95 out of 190 countries. This figure is below the attribute average of 2.60.

Summary

Kuwait exhibits a unique demographic profile with a low urban population count compared to the global average, but an exceptionally high urban population percentage. The country has a low age dependency ratio and birth rate, indicating a relatively young population. However, Kuwait's fertility rate and death rate are below global averages, suggesting potential demographic challenges in the future. These indicators are crucial as they reflect the country's population structure, workforce composition, and potential future growth or strain on social welfare systems.

Military

Military expenditure (current USD): Kuwait's military expenditure is $6.94 billion, which is below the average of $12.90 billion. Kuwait ranks 28th out of 149 countries in this attribute data.

Military expenditure (% of GDP): Kuwait's military expenditure is 6.57% of its GDP, significantly above the average of 1.90%. Kuwait ranks 4th out of 148 countries in this attribute data.

Arms imports (SIPRI trend indicator values): Kuwait's arms imports are $66 million, well below the average of $205.52 million. Kuwait ranks 49th out of 113 countries in this attribute data.

Armed forces personnel, total: Kuwait has 25,000 total armed forces personnel, below the average of 165,908. Kuwait ranks 94th out of 164 countries in this attribute data.

Armed forces personnel (% of total labor force): Kuwait's armed forces personnel account for 1.04% of its total labor force, below the average of 1.28%. Kuwait ranks 63rd out of 164 countries in this attribute data.

Summary

Despite Kuwait's relatively low military expenditure in terms of USD compared to the global average, it allocates a significantly higher percentage of its GDP towards military expenses, ranking 4th worldwide. This suggests a strategic prioritization of defense spending within its national budget. Additionally, Kuwait maintains a smaller armed forces personnel count compared to the average, indicating a focus on efficiency and modernization in its defense strategy.

Natural Resources

Analysis of Key Statistics for Kuwait:

1. Forest area (sq. km): Kuwait's value of 62.5 is significantly below the attribute average of 211606.115 sq. km. Kuwait ranks 181 out of 191 countries in this dataset.

2. Land area (sq. km): With a land area of 17820 sq. km, Kuwait is well below the attribute average of 665166.512 sq. km. Kuwait ranks 152 out of 194 countries.

3. Surface area (sq. km): Kuwait's surface area matches its land area at 17820 sq. km, far below the average of 689779.561 sq. km. Kuwait ranks 152 out of 194 countries.

4. Arable land (hectares): Kuwait's arable land of 8000 hectares is significantly lower than the average of 7329543.164 hectares. Kuwait ranks 168 out of 190 countries.

5. Land under cereal production (hectares): Kuwait's land under cereal production is 2009 hectares, much lower than the average of 4206011.632 hectares. Kuwait ranks 157 out of 174 countries.

6. Average precipitation in depth (mm per year): Kuwait receives 121 mm of precipitation per year, significantly lower than the average of 1157.832 mm. Kuwait ranks 169 out of 178 countries.

Summary

In analyzing key statistics for Kuwait, it is evident that the country faces significant challenges in terms of its natural resources and environmental factors. Kuwait's limited forest area, land area, arable land, and low precipitation levels all contribute to its ranking below average in these categories. These indicators are crucial as they highlight Kuwait's vulnerabilities in terms of agriculture, land use, and environmental sustainability, which could impact food security, economic diversification, and overall development efforts.

Resource Rents

1. Total natural resources rents (% of GDP): Kuwait's value is 29.28%, significantly higher than the average of 4.63%. This places Kuwait at rank 2 out of 175 countries in the dataset.

2. Forest rents (% of GDP): Kuwait's value is 0.00049%, notably below the average of 1.53%. Kuwait ranks 169 out of 174 countries in the dataset for this attribute.

3. Oil rents (% of GDP): Kuwait's value is 27.58%, much higher than the average of 2.51%. Kuwait ranks 1 out of 117 countries in the dataset for oil rents.

4. Natural gas rents (% of GDP): Kuwait's value is 1.70%, slightly above the average of 1.25%. Kuwait ranks 17 out of 96 countries in the dataset for natural gas rents.

Summary

Kuwait stands out in terms of its natural resources rents, particularly in oil rents where it ranks 1st globally. This indicates the significant reliance of Kuwait's economy on oil revenues, which can have both positive and negative implications. While high natural resources rents can boost government revenue and economic development, they also make the country vulnerable to fluctuations in global oil prices and hinder diversification efforts to reduce dependency on a single resource.

Commodities

For Cereal production, Kuwait's value is 31,395 metric tons, significantly below the attribute average of 17,249,945.92 metric tons. Kuwait is ranked 149 out of 174 countries in this dataset.

In terms of Aquaculture production, Kuwait's production is 450 metric tons, well below the average of 679,642.92 metric tons. The country ranks 138 out of 180 countries in this aspect.

Kuwait's Capture fisheries production stands at 3,095 metric tons, also notably lower than the average of 467,453.06 metric tons. Kuwait holds the 153rd position out of 190 countries for this attribute.

When it comes to Total fisheries production, Kuwait's 3,545 metric tons is below the average of 1,153,914.85 metric tons. The country is ranked 161 out of 182 countries for total fisheries production.

Lastly, for Fertilizer consumption, Kuwait's value is 1,208.14 kilograms per hectare of arable land, above the average of 159.04 kilograms. Kuwait ranks 5th out of 187 countries in this aspect.

Summary

Kuwait performs below the global average in terms of cereal production, aquaculture production, capture fisheries production, and total fisheries production. However, it excels in fertilizer consumption, ranking 5th globally. These statistics are crucial as they indicate Kuwait's reliance on imports for food security but also showcase its efficient use of fertilizers to maximize agricultural productivity despite challenging environmental conditions.

Intellectual Property

1. Industrial design applications, nonresident, by count: In Kuwait, there were 168 industrial design applications by nonresidents. This value is below the attribute average of 1415.83. Kuwait ranks 65th out of 112 countries in this dataset.

2. Industrial design applications, resident, by count: Kuwait had 64 industrial design applications by residents, significantly lower than the attribute average of 9799.58. Kuwait ranks 75th out of 113 countries for this metric.

3. Scientific and technical journal articles: Kuwait produced 1149.84 scientific and technical journal articles, far below the average of 15103.76. The country ranks 79th out of 192 countries in this category.

4. Researchers in R&D (per million people): With 165.83 researchers in R&D per million people, Kuwait falls short of the average of 2556.45. The country ranks 66th out of 72 nations in this attribute.

Summary

In summary, Kuwait shows lower-than-average performance in key macroeconomic indicators such as industrial design applications by residents and nonresidents, scientific and technical journal articles production, and number of researchers in R&D per million people. These indicators are crucial as they reflect the country's level of innovation, research, and development compared to global standards, highlighting areas where Kuwait may need to focus on to enhance its economic competitiveness and technological advancement.

Broad Economy Attributes

- GDP (current US$): Kuwait's GDP is $105.95 billion, which is below the average GDP of $442.87 billion. Kuwait ranks 61st out of 189 countries in the data set.
- GDP, PPP (current international $): Kuwait's GDP, purchasing power parity, is $202.25 billion, lower than the average of $734.14 billion. Kuwait is ranked 64th out of 181 countries.
- GDP per capita (current US$): Kuwait's GDP per capita is $24,297.71, higher than the average of $15,462.11. Kuwait ranks 36th out of 190 countries.
- GDP per capita, PPP (current international $): Kuwait's GDP per capita, purchasing power parity, is $46,382.90, significantly higher than the average of $21,251.89. Kuwait is ranked 26th out of 181 countries.
- GNI (current US$): Kuwait's GNI is $122.25 billion, below the average GNI of $452.04 billion. Kuwait ranks 57th out of 185 countries.
- GNI, PPP (current international $): Kuwait's GNI, purchasing power parity, is $233.37 billion, lower than the average of $730.70 billion. Kuwait holds the rank of 62nd out of 181 countries.
- GNI per capita, PPP (current international $): Kuwait's GNI per capita, purchasing power parity, is $53,520, significantly above the average of $20,615.75. Kuwait ranks 19th out of 181 countries.

Summary

Kuwait's GDP, GNI, and GDP per capita values are below the respective global averages, indicating room for growth and development. However, Kuwait's GDP per capita, PPP, and GNI per capita, PPP, values are notably higher than the global averages, suggesting a relatively higher standard of living for its citizens. These statistics are crucial as they provide insights into Kuwait's economic performance, its citizens' purchasing power, and its position in the global economic landscape.

Broad Value Added

- Gross value added at basic prices (GVA) in Kuwait is $112.42 billion, below the average of $360.07 billion, ranking 53rd out of 176 countries. - Kuwait's Agriculture, forestry, and fishing value added (% of GDP) is 0.46%, significantly below the average of 10.86%, ranking last at 176 out of 182 countries. - The value added in Agriculture, forestry, and fishing (current US$) in Kuwait is $484.69 million, well below the average of $19.92 billion, ranking 142nd out of 182 countries. - Kuwait's Services value added (% of GDP) is 69.06%, above the average of 56.72%, ranking 26th out of 183 countries. - Services value added in Kuwait is $73.17 billion, below the average of $295.84 billion, ranking 57th out of 183 countries. - Industry (including construction) value added in Kuwait is $48.13 billion, below the average of $118.42 billion, ranking 51st out of 183 countries.

Summary

Kuwait's economy is primarily driven by the services sector, which contributes significantly to the country's GDP and value added. However, the agriculture sector is severely underdeveloped, ranking last in terms of value added as a percentage of GDP and total value added. This lack of diversification and development in the agricultural sector could pose long-term risks to Kuwait's economy, as heavy reliance on services leaves it vulnerable to external shocks and fluctuations in global markets.

Manufacturing Value Added

Manufacturing, value added (current US$): Kuwait's value of $7,000,128,333.65 is significantly below the average of $76,207,179,589.66, ranking 75th out of 173 countries.

Manufacturing, value added (% of GDP): Kuwait's value of 6.61% is below the average of 11.90%, placing it at 134th out of 173 countries.

Medium and high-tech manufacturing value added (% manufacturing value added): Kuwait's value of 31.92% is above the average of 24.49%, ranking 47th out of 149 countries.

Chemicals (% of value added in manufacturing): Kuwait's value of 22.78% exceeds the average of 11.56%, ranking 8th out of 89 countries.

Food, beverages and tobacco (% of value added in manufacturing): Kuwait's value of 7.70% is below the average of 24.51%, placing it at 86th out of 92 countries.

Machinery and transport equipment (% of value added in manufacturing): Kuwait's value of 4.52% is below the average of 16.85%, ranking 70th out of 93 countries.

Textiles and clothing (% of value added in manufacturing): Kuwait's value of 3.15% is below the average of 6.33%, placing it at 45th out of 93 countries.

Other manufacturing (% of value added in manufacturing): Kuwait's value of 61.84% is above the average of 42.13%, ranking 9th out of 94 countries.

Summary

Kuwait's manufacturing sector shows a significant deviation from global averages across various subcategories. While excelling in the chemicals and other manufacturing industries, Kuwait is lagging behind in food, beverages, and machinery production. These indicators are crucial for assessing the diversification and competitiveness of Kuwait's economy, highlighting areas for potential growth and improvement to enhance overall economic resilience and sustainability.

Money

Inflation, consumer prices (annual %): Kuwait's inflation rate of 2.10% is below the average of 8.26%. The country is ranked 81 out of 165 countries in this attribute.

Inflation, GDP deflator (annual %): Kuwait's GDP deflator inflation rate of -13.91% is significantly below the average of 6.90%. The country is ranked 184 out of 188 countries in this attribute.

Broad money growth (annual %): Kuwait's broad money growth rate of 2.66% is below the average of 18.03%. The country is ranked 126 out of 139 countries in this attribute.

Broad money (% of GDP): Kuwait's broad money as a percentage of GDP is 120.64%, which is higher than the average of 71.75%. The country is ranked 15 out of 139 countries in this attribute.

Broad money to total reserves ratio: Kuwait's ratio of broad money to total reserves is 2.42, below the average of 5.17. The country is ranked 80 out of 126 countries in this attribute.

Summary

Kuwait demonstrates a mixed economic performance across key macroeconomic indicators. The country's low inflation rates suggest stable consumer prices and deflation in GDP, indicating potential economic challenges. Despite below-average broad money growth, Kuwait maintains a high broad money percentage of GDP, reflecting a well-capitalized financial system. However, the low ratio of broad money to total reserves may indicate vulnerability in managing liquidity and financial stability.

These statistics are important as they provide insights into Kuwait's economic health, monetary policy effectiveness, and financial system resilience. Understanding these indicators can help policymakers, investors, and analysts assess risks, identify areas for improvement, and make informed decisions regarding economic policies and investments in Kuwait.

Equities

1. Listed domestic companies, total: Kuwait has 163 listed domestic companies, which is below the average of 636.625. Kuwait is ranked 35th out of 72 countries in this attribute.

2. Stocks traded, total value (current US$): The total value of stocks traded in Kuwait is $13,167,270,000, significantly below the average of $1,379,501,950,182. Kuwait ranks 34th out of 71 countries in this aspect.

3. Stocks traded, total value (% of GDP): Kuwait's stocks traded value as a percentage of GDP is 12.43%, lower than the average of 31.65%. Kuwait is ranked 24th out of 71 countries in this metric.

4. Market capitalization of listed domestic companies (current US$): The market capitalization of listed domestic companies in Kuwait amounts to $105,986,840,000, well below the average of $1,196,037,851,618. Kuwait ranks 32nd out of 73 countries in this category.

5. Market capitalization of listed domestic companies (% of GDP): Kuwait's market capitalization of listed domestic companies as a percentage of GDP is 100.04%, higher than the average of 71.24%. Kuwait is ranked 16th out of 73 countries in this respect.

6. S&P Global Equity Indices (annual % change): Kuwait's S&P Global Equity Indices show a -12.68% annual change, significantly lower than the average of 2.06%. Kuwait ranks 65th out of 79 countries in this particular metric.

Summary

In summary, Kuwait performs below average in key macroeconomic indicators such as listed domestic companies, stocks traded value, and S&P Global Equity Indices. Despite its high market capitalization of listed domestic companies as a percentage of GDP, the country has relatively lower stock market activity and poor performance in equity indices. These indicators are crucial as they reflect the vibrancy and depth of Kuwait's financial markets, impacting investor confidence and overall economic growth.

Investment

Foreign direct investment, net (BoP, current US$): With a value of $3,711,974,759.06, Kuwait is performing above the average of -$1,615,235,980.51, ranking 18 out of 169 countries in the dataset.

Foreign direct investment, net inflows (BoP, current US$): Kuwait's value of -$558,055,522.57 is below the average of $5,749,271,080.15, placing Kuwait at rank 164 out of 182 countries.

Foreign direct investment, net inflows (% of GDP): Kuwait's value of -0.53% is lower than the average of 2.61%, ranking Kuwait 157 out of 178 countries in the dataset.

Foreign direct investment, net outflows (BoP, current US$): Kuwait's value of $3,153,919,236.49 is lower than the average of $5,707,991,116.07, positioning Kuwait at rank 32 out of 156 countries.

Foreign direct investment, net outflows (% of GDP): Kuwait's value of 2.98% is above the average of 1.00%, ranking Kuwait 12 out of 155 countries.

Portfolio Investment, net (BoP, current US$): Kuwait excels in this attribute with a value of $49,115,428,349.52, well above the average of $679,559,169.57, ranking Kuwait 6 out of 159 countries.

Portfolio equity, net inflows (BoP, current US$): Kuwait's value of $241,190,807.11 is significantly below the average of $9,197,145,994.70, placing Kuwait at rank 24 out of 125 countries.

Summary

Kuwait stands out in terms of Portfolio Investment, net, with a value of $49,115,428,349.52, placing the country 6th out of 159 countries. However, when it comes to Foreign direct investment, Kuwait performs below average in most categories, particularly in net inflows, suggesting a potential need for policies to attract more foreign investment to boost economic growth and development.

Broad Trade Attributes

- Merchandise trade (% of GDP): Kuwait has a merchandise trade value of 64.04% of GDP, which is above the average of 60.01%. This puts Kuwait at rank 56 out of 186 countries in this dataset.

- Trade in services (% of GDP): For trade in services, Kuwait's value is 24.87% of GDP, slightly above the average of 24.63%. Kuwait ranks 49 out of 171 countries in this dataset.

Summary

Kuwait demonstrates a strong presence in both merchandise trade and trade in services with values above the global averages. The country's above-average performance in these indicators highlights its robust economic engagement with other nations, contributing significantly to its GDP. This underscores Kuwait's role as an active player in the global economy and reflects its trade competitiveness on an international scale.

Net Trade

1. Current account balance (BoP, current US$): Kuwait's current account balance is significantly higher than the average, ranking 14th out of 170 countries. This indicates a strong position in terms of international trade and financial flows.

2. Current account balance (% of GDP): Kuwait's current account balance as a percentage of GDP is well above the average, ranking 3rd out of 170 countries. This suggests a robust trade surplus relative to the size of its economy.

3. Net trade in goods and services (BoP, current US$): Kuwait's net trade in goods and services is above the average, ranking 35th out of 171 countries. This shows a positive balance in trade transactions.

4. Net primary income (BoP, current US$): Kuwait's net primary income is significantly higher than the average, ranking 5th out of 170 countries. This indicates a substantial inflow of income from foreign investments or assets.

5. Net secondary income (BoP, current US$): Kuwait's net secondary income is considerably below the average, ranking 163rd out of 170 countries. This suggests a substantial outflow of secondary income, such as remittances or aid.

6. Net trade in goods (BoP, current US$): Kuwait's net trade in goods is above the average, ranking 24th out of 171 countries. This indicates a positive balance in the trade of physical goods.

7. Net capital account (BoP, current US$): Kuwait's net capital account is significantly higher than the average, ranking 14th out of 159 countries. This suggests a strong position in terms of capital flows.

8. Net financial account (BoP, current US$): Kuwait's net financial account is well above the average, ranking 15th out of 170 countries. This indicates a significant inflow of financial investments or assets.

Summary

Kuwait demonstrates exceptional economic strength in its international transactions, with a high current account balance and robust trade surpluses relative to its GDP. The country also shows significant inflows of primary income and capital, indicating a favorable environment for foreign investments. However, Kuwait's outflow of secondary income is notable, which may warrant further analysis to understand the reasons behind this trend and its potential impact on the economy.

Broad Export Attributes

1. Exports of goods, services and primary income (BoP, current US$): Kuwait's value of $86,898,763,628.52 for this attribute is below the average of $146,238,908,936.30. Kuwait ranks 42 out of 170 countries in this category.

2. Exports of goods and services (BoP, current US$): Kuwait's value of $47,416,410,506.02 for this attribute is below the average of $122,938,540,059.78. Kuwait ranks 50 out of 170 countries for this statistic.

3. Goods exports (BoP, current US$): Kuwait's value of $40,248,218,410.25 for goods exports is below the average of $93,310,581,697.39. Kuwait ranks 48 out of 171 countries in this category.

4. International tourism, receipts (% of total exports): Kuwait's value of 1.11% is below the average of 9.74%. Kuwait ranks 108 out of 120 countries considered for this statistic.

5. ICT goods exports (% of total goods exports): Kuwait's value of 0.20% for this attribute is below the average of 3.81%. Kuwait ranks 96 out of 142 countries included in this data set.

Summary

Kuwait's key macroeconomic indicators for exports show that the country is performing below the global average in various categories such as exports of goods, services, primary income, goods exports, international tourism receipts, and ICT goods exports. These statistics are important as they indicate Kuwait's relative position in global trade, its competitiveness, and its level of integration in the global market. Addressing these areas of underperformance could help Kuwait enhance its trade position and economic growth.

Merchandise Exports

Analysis of key export attributes for Kuwait:

1. Merchandise exports (current US$): Kuwait's merchandise exports are $40,116,000,000. This is below the average of $89,542,711,229.95. Kuwait is ranked 50 out of 187 countries in this attribute.

2. Agricultural raw materials exports (% of merchandise exports): Kuwait's percentage is 0.03, significantly below the average of 2.97. Kuwait ranks 140 out of 151 countries.

3. Food exports (% of merchandise exports): Kuwait's food exports account for 0.84% of total merchandise exports, much lower than the average of 24.06%. Kuwait is ranked 146 out of 152 countries.

4. Fuel exports (% of merchandise exports): Kuwait heavily relies on fuel exports, constituting 92.88% of its merchandise exports. This is well above the average of 13.70. Kuwait ranks 3 out of 147 countries.

5. Ores and metals exports (% of merchandise exports): Kuwait's ores and metals exports are only 0.19% of total merchandise exports, far below the average of 9.10%. Kuwait ranks 145 out of 152 countries.

6. Merchandise exports by the reporting economy, residual (% of total merchandise exports): Kuwait's residual exports account for 89.11% of total merchandise exports, significantly higher than the average of 3.20%. Kuwait is ranked 1 out of 166 countries in this attribute.

Summary

In summary, Kuwait heavily relies on fuel exports, which make up a significant portion of its total merchandise exports at 92.88%, ranking the country 3rd globally in this category. Conversely, Kuwait's agricultural raw materials, food, and ores and metals exports are all well below global averages, indicating a lack of diversification in its export base.

These findings are crucial as they highlight Kuwait's vulnerability to fluctuations in global fuel demand and prices. Diversifying its export portfolio to include a wider range of products could help Kuwait mitigate risks and enhance its resilience in the face of economic uncertainties.

Technology Exports

Manufactures exports (% of merchandise exports): Kuwait's value is 5.87%, which is significantly below the average of 42.62%. Kuwait ranks 139th out of 152 countries in this attribute.

High-technology exports (current US$): Kuwait's value stands at $30,598,853, much lower than the average of $16,655,934,078.80. Kuwait ranks 97th out of 151 countries in this attribute.

High-technology exports (% of manufactured exports): Kuwait's percentage is 1.35%, well below the average of 10.15%. The country ranks 126th out of 150 countries in this attribute.

Medium and high-tech exports (% manufactured exports): Kuwait's value is 12.96%, which is below the average of 34.29%. Kuwait ranks 110th out of 149 countries in this attribute.

Summary

Kuwait lags behind the global average in key indicators related to exports of manufactured goods and high-technology products. This is significant as it indicates a limited diversification of Kuwait's export base, potentially exposing the country to risks associated with an overreliance on a few sectors for revenue generation. Addressing these gaps could help Kuwait enhance its competitiveness in the global market and facilitate economic growth and stability.

Service Exports

1. Service exports (BoP, current US$): Kuwait's service exports value is $7,168,192,095.77, below the attribute average of $28,917,292,503.82. Kuwait ranks 60th out of 171 countries in this attribute data.

2. ICT service exports (BoP, current US$): Kuwait's ICT service exports value is $4,292,531,589.41, below the attribute average of $4,578,501,153.77. Kuwait ranks 30th out of 166 countries in this attribute data.

3. ICT service exports (% of service exports, BoP): Kuwait's ICT service exports as a percentage of total service exports is 59.88%, significantly above the attribute average of 11.75%. Kuwait ranks 2nd out of 166 countries in this attribute data.

4. Communications, computer, etc. (% of service exports, BoP): Kuwait's percentage of service exports in this category is 68.02%, above the attribute average of 45.85%. Kuwait ranks 32nd out of 169 countries in this attribute data.

5. Transport services (% of service exports, BoP): Kuwait's transport services as a percentage of total service exports is 10.98%, below the attribute average of 21.80%. Kuwait ranks 111th out of 169 countries in this attribute data.

6. Travel services (% of service exports, BoP): Kuwait's travel services as a percentage of total service exports is 5.54%, significantly below the attribute average of 26.40%. Kuwait ranks 139th out of 167 countries in this attribute data.

7. Insurance and financial services (% of service exports, BoP): Kuwait's insurance and financial services as a percentage of total service exports is 15.45%, above the attribute average of 6.46%. Kuwait ranks 14th out of 161 countries in this attribute data.

Summary

Kuwait has a strong focus on ICT service exports, with a significant portion of its service exports coming from this sector, ranking 2nd globally in this aspect. However, Kuwait lags behind in the contribution of transport and travel services to its overall service exports, ranking low in these categories. This highlights Kuwait's specialization in ICT services and suggests potential areas for diversification and growth in its service export sector.

Commercial Service Exports

- Commercial service exports (current US$): In Kuwait, the value of commercial service exports is $6.6 billion. This is below the average of $28.5 billion, resulting in Kuwait being ranked 61st out of 171 countries in this attribute.

- Travel services (% of commercial service exports): Kuwait's travel services account for 6% of its commercial service exports. This is below the average of 27.9%, placing Kuwait 139th out of 167 countries for this metric.

- Computer, communications, and other services (% of commercial service exports): Kuwait allocates 65.3% of its commercial service exports to this category, surpassing the average of 42.4%. As a result, Kuwait is ranked 32nd out of 169 countries in this attribute.

- Insurance and financial services (% of commercial service exports): Kuwait dedicates 16.7% of its commercial service exports to insurance and financial services, significantly higher than the average of 7%. This places Kuwait 16th out of 161 countries in this aspect.

- Transport services (% of commercial service exports): Kuwait's transport services constitute 11.9% of its commercial service exports, falling below the average of 23.4%. Kuwait holds the 111th position out of 169 countries based on this metric.

Summary

Kuwait's commercial service exports are below average in terms of total value, with a significant focus on computer, communications, and other services at the expense of travel and transport services. Despite excelling in insurance and financial services relative to other countries, Kuwait's reliance on a single sector could pose risks in diversifying its export base and ensuring economic stability in the long term.

Broad Import Attributes

- In terms of International tourism expenditures, Kuwait spends 15.21% of its total imports, significantly higher than the average of 3.98%. This places Kuwait at rank 4 out of 131 countries in the dataset.
- With regards to ICT goods imports, Kuwait imports 7.91% of total goods imports, slightly above the average of 6.85%. Kuwait ranks 40 out of 143 countries in this metric.
- Kuwait's goods imports amount to $24.84 billion, notably below the average of $92.01 billion. Kuwait ranks 61 out of 171 countries in goods imports.
- The value of imports of goods and services for Kuwait totals $44.02 billion, significantly lower than the average of $120.32 billion. Kuwait ranks 56 out of 170 countries in this aspect.
- Kuwait's imports of goods, services, and primary income amount to $47.27 billion, showing a substantial difference from the average of $144.51 billion. Kuwait ranks 57 out of 170 countries for this metric.

Summary

Kuwait stands out in international tourism expenditures and ICT goods imports, spending significantly more than the average. However, its overall goods imports, imports of goods and services, and imports of goods, services, and primary income are notably lower than the average when compared to other countries in the dataset. These indicators are crucial as they highlight Kuwait's prioritization of certain sectors for investment and trade, while also showcasing potential areas for growth and development to improve its economic competitiveness on a global scale.

Merchandise Imports

Analysis of key import attributes for Kuwait:

1. Merchandise imports (current US$): Kuwait's value of $27,738,000,000 for this attribute is significantly below the average of $89,385,605,263. Kuwait ranks 63 out of 190 countries in this data set.

2. Manufactures imports (% of merchandise imports): Kuwait's value of 74.88% is above the average of 66.76%. Kuwait ranks 34 out of 152 countries in this data set.

3. Agricultural raw materials imports (% of merchandise imports): Kuwait's value of 0.49% is below the average of 1.27%. Kuwait ranks 133 out of 152 countries in this data set.

4. Food imports (% of merchandise imports): Kuwait's value of 20.05% is above the average of 15.89%. Kuwait ranks 39 out of 152 countries in this data set.

5. Fuel imports (% of merchandise imports): Kuwait's value of 0.44% is significantly below the average of 11.38%. Kuwait ranks 152 out of 152 countries in this data set.

6. Ores and metals imports (% of merchandise imports): Kuwait's value of 2.44% is below the average of 2.57%. Kuwait ranks 57 out of 152 countries in this data set.

7. Merchandise imports by the reporting economy, residual (% of total merchandise imports): Kuwait's value of 0.16% is below the average of 2.51%. Kuwait ranks 116 out of 180 countries in this data set.

Summary

In summary, Kuwait has a relatively low value in total merchandise imports compared to the average, with a significant emphasis on manufactured goods and food imports. However, the country has minimal reliance on agricultural raw materials and fuel imports.

These findings are crucial as they indicate Kuwait's dependence on imports for manufactured goods and food supply. The low percentage of fuel imports is significant given Kuwait's position as a major oil-producing country, highlighting its self-sufficiency in this critical resource. Understanding these import attributes can help policymakers and analysts assess Kuwait's economic diversification efforts and potential vulnerabilities in global trade dynamics.

Service Imports

Service imports in Kuwait amount to $19,179,365,208.89, ranking 37th out of 171 countries. This value is below the average service imports of $27,615,356,170.47.

Communications, computer, etc. constitute 37.18% of Kuwait's service imports, ranking 109th out of 169 countries. The percentage is below the average of 44.40%.

Transport services represent 17.27% of Kuwait's service imports, placing it at the 143rd rank out of 169 countries. This percentage falls below the attribute average of 32.90%.

Kuwait's travel services contribute 35.62% to its service imports, ranking 9th out of 169 countries. This value is significantly higher than the average of 14.14%.

Insurance and financial services make up 9.94% of Kuwait's service imports, placing it at the 52nd rank out of 169 countries. This percentage exceeds the attribute average of 8.53%.

Summary

In summary, Kuwait's service imports are below the global average, with a significant portion allocated to travel services which exceed the average. However, the country lags in the allocation towards communications, computer, etc. and transport services compared to the global average.

These findings are important as they highlight Kuwait's reliance on travel services for its imports, indicating a potential tourism industry strength. The underinvestment in communications and transport services may signify areas for improvement to enhance the country's connectivity and technological infrastructure.

Commercial Service Imports

Analysis of key service imports statistics for Kuwait:

Commercial service imports (current US$): Kuwait's value of $17,172,040,292.66 is below the average of $27,102,746,128.60. Kuwait ranks 41st out of 171 countries in this statistic.

Computer, communications and other services (% of commercial service imports): Kuwait's value of 29.83% is below the average of 41.71%. Kuwait ranks 114th out of 169 countries in this statistic.

Insurance and financial services (% of commercial service imports): Kuwait's value of 11.10% is above the average of 8.85%. Kuwait ranks 44th out of 169 countries in this statistic.

Transport services (% of commercial service imports): Kuwait's value of 19.28% is below the average of 34.71%. Kuwait ranks 135th out of 169 countries in this statistic.

Travel services (% of commercial service imports): Kuwait's value of 39.78% is above the average of 14.73%. Kuwait ranks 8th out of 169 countries in this statistic.

Summary

In summary, Kuwait's commercial service imports value is below the global average, ranking 41st out of 171 countries. The country has a higher percentage of insurance and financial services in its commercial imports, ranking 44th globally, but lower percentages in computer, communications, transport services, while excelling in travel services, ranking 8th worldwide.

These statistics are crucial as they provide insights into Kuwait's economic structure, showcasing its strengths and weaknesses in different service sectors. Understanding these figures can help policymakers focus on areas that need improvement to enhance economic growth and competitiveness in the global market.

Infrastructure

Analysis of key statistics for Kuwait in relation to global averages:

Summary

In analyzing key macroeconomic indicators for Kuwait in relation to global averages, it is evident that the country falls below average in various aspects of air transport and container port traffic. Kuwait's lower values in air transport freight, registered carrier departures, passengers carried, and container port traffic indicate potential limitations in its transportation infrastructure and connectivity compared to the global average.

These findings are important as they suggest areas where Kuwait may need to focus on improving its transportation networks to enhance its connectivity with global markets. Strengthening these sectors can boost trade, tourism, and overall economic growth by facilitating the movement of goods and people more efficiently.

Information Technology Infrastructure

1. Secure Internet servers: Kuwait has 1770 secure internet servers, which is significantly below the attribute average of 458,294. Kuwait is ranked 103 out of 193 countries in this dataset.

2. Secure Internet servers (per 1 million people): With 405.92 secure internet servers per 1 million people, Kuwait falls well below the attribute average of 14,067.17. Kuwait is ranked 100 out of 193 countries for this metric.

3. Individuals using the Internet (% of population): Kuwait excels in this area with 99.11% of its population using the internet, surpassing the attribute average of 64.77%. Kuwait is ranked 5 out of 180 countries in this dataset.

4. Fixed broadband subscriptions: Kuwait has 73,948 fixed broadband subscriptions, which is substantially below the attribute average of 6,591,956.35. Kuwait ranks 129 out of 185 countries in fixed broadband subscriptions.

5. Mobile cellular subscriptions: Kuwait has 6,770,346 mobile cellular subscriptions, falling below the attribute average of 42,526,463.87. Kuwait is ranked 107 out of 193 countries for mobile cellular subscriptions.

Summary

In summary, Kuwait has relatively low numbers of secure internet servers, fixed broadband subscriptions, and mobile cellular subscriptions compared to the global averages. However, the country excels in terms of the percentage of its population using the internet. These indicators are crucial for assessing Kuwait's connectivity infrastructure and digital readiness in the modern era of technology-driven economies.

Energy Consumption

- Kuwait's renewable energy consumption (% of total final energy consumption) is only 0.1%, significantly below the average of 32.18%. Kuwait ranks 186th out of 191 countries in this attribute data.
- In terms of CO2 emissions (kt), Kuwait emits 92,308.9 kt, which is below the average of 171,895.94 kt. Kuwait holds the 37th rank out of 188 countries in CO2 emissions.

Summary

Kuwait's low renewable energy consumption and relatively lower CO2 emissions compared to the average signify a heavy reliance on traditional energy sources and less eco-friendly practices. This presents a challenge for Kuwait in transitioning towards sustainable energy and reducing its carbon footprint to align with global environmental goals, potentially impacting its long-term energy security, economic competitiveness, and environmental sustainability.

Government Balance Sheet

1. Reserves and related items (BoP, current US$): Kuwait's value of $8,266,942,831.50 is significantly higher than the average of $1,924,407,186.58. This places Kuwait at rank 15 out of 171 countries in the dataset.

2. Total reserves minus gold (current US$): Kuwait's value of $48,117,162,093.72 is below the average of $74,221,588,171.61. This places Kuwait at rank 36 out of 161 countries in the dataset.

3. Total reserves (includes gold, current US$): Kuwait's value of $52,918,606,999.35 is below the average of $85,708,019,773.47. This places Kuwait at rank 38 out of 161 countries in the dataset.

4. Total reserves in months of imports: Kuwait's value of 13.43 months is higher than the average of 7.10 months. This places Kuwait at rank 16 out of 151 countries in the dataset.

Summary

Kuwait's foreign reserves and related items, total reserves minus gold, and total reserves including gold are all lower than the respective global averages, positioning the country at slightly lower ranks in the dataset. However, Kuwait boasts a significantly higher total reserves in months of imports, placing it at a relatively favorable 16th position.

These indicators are crucial as they reflect Kuwait's financial stability, ability to withstand external economic shocks, and capacity to fund imports in the long term. The higher total reserves in months of imports suggest that Kuwait is well-prepared for any potential disruptions in international trade, ensuring a buffer to maintain its economic activities even during challenging times.

Taxes

The weighted mean tariff rate on all products in Kuwait is 3.01%, which is below the average rate of 5.21%. Kuwait is ranked 84 out of 153 countries in this attribute.

Summary

Kuwait maintains a competitive position with a relatively low weighted mean tariff rate of 3.01%, below the global average of 5.21%. This demonstrates Kuwait's commitment to promoting international trade and attracting investments. By keeping tariffs low, Kuwait fosters a favorable business environment, encourages economic growth, and enhances its global competitiveness.

Top Stats

Ranks in Top Decile For:

Attribute Rank/Total
Population ages 15-64 (% of total population) 4/194
Urban population (% of total population) 1/194
Military expenditure (% of GDP) 4/148
Total natural resources rents (% of GDP) 2/175
Oil rents (% of GDP) 1/117
Fertilizer consumption (kilograms per hectare of arable land) 5/187
Chemicals (% of value added in manufacturing) 8/89
Other manufacturing (% of value added in manufacturing) 9/94
Foreign direct investment, net outflows (% of GDP) 12/155
Portfolio Investment, net (BoP, current US$) 6/159
Current account balance (BoP, current US$) 14/170
Current account balance (% of GDP) 3/170
Net primary income (BoP, current US$) 5/170
Net capital account (BoP, current US$) 14/159
Net financial account (BoP, current US$) 15/170
Fuel exports (% of merchandise exports) 3/147
Merchandise exports by the reporting economy, residual (% of total merchandise exports) 1/166
ICT service exports (% of service exports, BoP) 2/166
Insurance and financial services (% of service exports, BoP) 14/161
Insurance and financial services (% of commercial service exports) 16/161
International tourism, expenditures (% of total imports) 4/131
Travel services (% of service imports, BoP) 9/169
Travel services (% of commercial service imports) 8/169
Individuals using the Internet (% of population) 5/180
Reserves and related items (BoP, current US$) 15/171

Ranks in Bottom Decile For:

Attribute Rank/Total
Age dependency ratio (% of working-age population) 191/194
Death rate, crude (per 1,000 people) 186/192
Forest area (sq. km) 181/191
Land under cereal production (hectares) 157/174
Average precipitation in depth (mm per year) 169/178
Forest rents (% of GDP) 169/174
Researchers in R&D (per million people) 66/72
Agriculture, forestry, and fishing, value added (% of GDP) 176/182
Food, beverages and tobacco (% of value added in manufacturing) 86/92
Inflation, GDP deflator (annual %) 184/188
Broad money growth (annual %) 126/139
Foreign direct investment, net inflows (BoP, current US$) 164/182
Net secondary income (BoP, current US$) 163/170
Agricultural raw materials exports (% of merchandise exports) 140/151
Food exports (% of merchandise exports) 146/152
Ores and metals exports (% of merchandise exports) 145/152
Manufactures exports (% of merchandise exports) 139/152
Fuel imports (% of merchandise imports) 152/152
Renewable energy consumption (% of total final energy consumption) 186/191