Kuwait

Kuwait

Kuwait is a small, rich, relatively open economy with proven crude oil reserves of 96 billion barrels (15 km³) - 10% of world reserves. It has the 6^th highest GDP per Capita in the world. Petroleum accounts for nearly half of GDP, 95% of export revenues, and 80% of government income. Kuwait's climate limits agricultural development. Consequently, with the exception of fish, it depends almost wholly on food imports. About 75% of potable water must be distilled or imported.

 

Kuwait continues its discussions with foreign oil companies to develop fields in the northern part of the country. By 1990 the country earned more from foreign investment than from oil exports. The expenses of the Iraqi invasion and postwar reconstruction placed a heavy economic burden on the country, but by the mid-1990s Kuwait had resumed its pre-invasion prosperity.

 

The Central Bank of Kuwait in the capital city issues Kuwait’s currency, the Kuwaiti Dinar. The Dinar is currently valued at 0.292010 KWD per 1USD, making it the highest-valued currency in the world.

 

Total GDP: $149.1 billion (2008 est.)

 

GDP Growth Rate: 8.5% (2008 est.)

 

GDP Per Capita: $57,400 (2008 est.)

 

Population: 2,691,158 (July 2009 est.)

 

Population Growth Rate: 3.547% (2009 est.)

 

Fertility Rate: 2.76 children born/woman (2009 est.)

 

Age Structure:

0-14 years: 26.4% (male 361,150/female 348,518)

15-64 years: 70.7% (male 1,219,075/female 683,587)

65 years and over: 2.9% (male 49,163/female 29,665)

(2009 est.)

 

Source: CIA World Factbook

Algeria | Bahrain | Egypt | Iraq | Jordan | Kuwait | Lebanon | Libya | Morocco

Oman | Qatar | Saudi Arabia | Syria | Tunisia | United Arab Emirates | Yemen