Business and economic intelligence for the Gulf and Iraq.

Countries

🇰🇼 Kuwait

Kuwait City · KWD

An oil-dependent economy with the region's oldest sovereign wealth fund and a labour market dominated by public-sector employment of nationals.

Verified · updated 22 Sept 2026

What we watch this week

  • 4 OctOPEC+ monthly meeting sets November output.Source
  • 28 OctWhether Kuwait holds its discount rate at 3.5% after the Fed decision, having already broken with the Fed and the Gulf.
  • 28 OctThe US Federal Reserve decision at its 28 October meeting; most Gulf currencies are pegged to the dollar.Source

Last updated 23 Sept 2026

Key indicators

Oil and gas

101.5 bn bbl

Proven crude oil reserves

2.41 mb/d

Crude oil production

1.18 mb/d

Crude oil exports

1.45 mb/d

Refining capacity

1,784 bcm

Proven natural gas reserves

16.3 bcm

Marketed natural gas production

Labour snapshot

2.2%

Unemployment rate (total)

73.4%

Labour force participation (total)

Nationalisation programme

Public Authority for Manpower

Kuwaitization sets minimum shares of Kuwaiti employees by private-sector activity and supports national employment in the private sector through wage allowances.

Official source

Sovereign funds

Major companies

All verified values

Key indicatorsPeriodValueSource
GDP (nominal)2025$157 bn

World Bank, World Development Indicators·2025·13 Jul 2026

GDP (nominal)2024$161 bn

World Bank, World Development Indicators·2024·13 Jul 2026

Proven crude oil reserves2024101.5 bn bbl

OPEC Annual Statistical Bulletin·2024·2 Jul 2025

Proven crude oil reserves2023101.5 bn bbl

OPEC Annual Statistical Bulletin·2023·2 Jul 2025

GDP (nominal)2023$166 bn

World Bank, World Development Indicators·2023·13 Jul 2026

GDP (nominal)2022$184 bn

World Bank, World Development Indicators·2022·13 Jul 2026

GDP (nominal)2021$148 bn

World Bank, World Development Indicators·2021·13 Jul 2026

GDP (nominal)2020$111 bn

World Bank, World Development Indicators·2020·13 Jul 2026

GDP (nominal)2019$141 bn

World Bank, World Development Indicators·2019·13 Jul 2026

GDP (nominal)2018$139 bn

World Bank, World Development Indicators·2018·13 Jul 2026

GDP (nominal)2017$121 bn

World Bank, World Development Indicators·2017·13 Jul 2026

GDP (nominal)2016$109 bn

World Bank, World Development Indicators·2016·13 Jul 2026

GDP (nominal)2015$115 bn

World Bank, World Development Indicators·2015·13 Jul 2026

Real GDP growth20252.7%

World Bank, World Development Indicators·2025·13 Jul 2026

Crude oil production20242.41 mb/d

OPEC Annual Statistical Bulletin·2024·2 Jul 2025

Real GDP growth2024-1.5%

World Bank, World Development Indicators·2024·13 Jul 2026

Crude oil production20232.59 mb/d

OPEC Annual Statistical Bulletin·2023·2 Jul 2025

Real GDP growth2023-1.6%

World Bank, World Development Indicators·2023·13 Jul 2026

Real GDP growth20226.8%

World Bank, World Development Indicators·2022·13 Jul 2026

Real GDP growth20211.7%

World Bank, World Development Indicators·2021·13 Jul 2026

Real GDP growth2020-4.8%

World Bank, World Development Indicators·2020·13 Jul 2026

Real GDP growth20192.3%

World Bank, World Development Indicators·2019·13 Jul 2026

Real GDP growth20182.7%

World Bank, World Development Indicators·2018·13 Jul 2026

Real GDP growth2017-4.7%

World Bank, World Development Indicators·2017·13 Jul 2026

Real GDP growth20162.9%

World Bank, World Development Indicators·2016·13 Jul 2026

Real GDP growth20150.6%

World Bank, World Development Indicators·2015·13 Jul 2026

Inflation (CPI)20252.4%

World Bank, World Development Indicators·2025·13 Jul 2026

Crude oil exports20241.18 mb/d

OPEC Annual Statistical Bulletin·2024·2 Jul 2025

Inflation (CPI)20242.9%

World Bank, World Development Indicators·2024·13 Jul 2026

Crude oil exports20231.57 mb/d

OPEC Annual Statistical Bulletin·2023·2 Jul 2025

Inflation (CPI)20233.6%

World Bank, World Development Indicators·2023·13 Jul 2026

Inflation (CPI)20224%

World Bank, World Development Indicators·2022·13 Jul 2026

Inflation (CPI)20213.4%

World Bank, World Development Indicators·2021·13 Jul 2026

Inflation (CPI)20202.1%

World Bank, World Development Indicators·2020·13 Jul 2026

Inflation (CPI)20191.1%

World Bank, World Development Indicators·2019·13 Jul 2026

Inflation (CPI)20180.5%

World Bank, World Development Indicators·2018·13 Jul 2026

Inflation (CPI)20172.2%

World Bank, World Development Indicators·2017·13 Jul 2026

Inflation (CPI)20163.2%

World Bank, World Development Indicators·2016·13 Jul 2026

Inflation (CPI)20153.3%

World Bank, World Development Indicators·2015·13 Jul 2026

Population20254.87 mn

World Bank, World Development Indicators·2025·13 Jul 2026

Refining capacity20241.45 mb/d

OPEC Annual Statistical Bulletin·2024·2 Jul 2025

Population20244.9 mn

World Bank, World Development Indicators·2024·13 Jul 2026

Refining capacity20231.42 mb/d

OPEC Annual Statistical Bulletin·2023·2 Jul 2025

Population20234.85 mn

World Bank, World Development Indicators·2023·13 Jul 2026

Population20224.59 mn

World Bank, World Development Indicators·2022·13 Jul 2026

Population20214.36 mn

World Bank, World Development Indicators·2021·13 Jul 2026

Population20204.4 mn

World Bank, World Development Indicators·2020·13 Jul 2026

Population20194.44 mn

World Bank, World Development Indicators·2019·13 Jul 2026

Population20184.32 mn

World Bank, World Development Indicators·2018·13 Jul 2026

Population20174.15 mn

World Bank, World Development Indicators·2017·13 Jul 2026

Population20164 mn

World Bank, World Development Indicators·2016·13 Jul 2026

Population20153.83 mn

World Bank, World Development Indicators·2015·13 Jul 2026

Unemployment rate (total)2025 (estimate)2.2%

World Bank, World Development Indicators·2025(estimate)·13 Jul 2026

Unemployment rate (total)2024 (estimate)2.2%

World Bank, World Development Indicators·2024(estimate)·13 Jul 2026

Proven natural gas reserves20241,784 bcm

OPEC Annual Statistical Bulletin·2024·2 Jul 2025

Proven natural gas reserves20231,784 bcm

OPEC Annual Statistical Bulletin·2023·2 Jul 2025

Unemployment rate (total)2023 (estimate)2.1%

World Bank, World Development Indicators·2023(estimate)·13 Jul 2026

Unemployment rate (total)2022 (estimate)2.1%

World Bank, World Development Indicators·2022(estimate)·13 Jul 2026

Unemployment rate (total)2021 (estimate)3%

World Bank, World Development Indicators·2021(estimate)·13 Jul 2026

Unemployment rate (total)2020 (estimate)3.5%

World Bank, World Development Indicators·2020(estimate)·13 Jul 2026

Unemployment rate (total)2019 (estimate)2.2%

World Bank, World Development Indicators·2019(estimate)·13 Jul 2026

Unemployment rate (total)2018 (estimate)2.2%

World Bank, World Development Indicators·2018(estimate)·13 Jul 2026

Unemployment rate (total)2017 (estimate)2.2%

World Bank, World Development Indicators·2017(estimate)·13 Jul 2026

Unemployment rate (total)2016 (estimate)2.2%

World Bank, World Development Indicators·2016(estimate)·13 Jul 2026

Unemployment rate (total)2015 (estimate)2.2%

World Bank, World Development Indicators·2015(estimate)·13 Jul 2026

Labour force participation (total)2025 (estimate)73.4%

World Bank, World Development Indicators·2025(estimate)·13 Jul 2026

Marketed natural gas production202416.3 bcm

OPEC Annual Statistical Bulletin·2024·2 Jul 2025

Labour force participation (total)2024 (estimate)73.6%

World Bank, World Development Indicators·2024(estimate)·13 Jul 2026

Labour force participation (total)2023 (estimate)74%

World Bank, World Development Indicators·2023(estimate)·13 Jul 2026

Marketed natural gas production202315.5 bcm

OPEC Annual Statistical Bulletin·2023·2 Jul 2025

Labour force participation (total)2022 (estimate)74.4%

World Bank, World Development Indicators·2022(estimate)·13 Jul 2026

Labour force participation (total)2021 (estimate)70.6%

World Bank, World Development Indicators·2021(estimate)·13 Jul 2026

Labour force participation (total)2020 (estimate)69.2%

World Bank, World Development Indicators·2020(estimate)·13 Jul 2026

Labour force participation (total)2019 (estimate)73.3%

World Bank, World Development Indicators·2019(estimate)·13 Jul 2026

Labour force participation (total)2018 (estimate)73.6%

World Bank, World Development Indicators·2018(estimate)·13 Jul 2026

Labour force participation (total)2017 (estimate)73.4%

World Bank, World Development Indicators·2017(estimate)·13 Jul 2026

Labour force participation (total)2016 (estimate)72.7%

World Bank, World Development Indicators·2016(estimate)·13 Jul 2026

Labour force participation (total)2015 (estimate)72.3%

World Bank, World Development Indicators·2015(estimate)·13 Jul 2026

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Sources

  1. World Bank, World Development Indicators · data.worldbank.org
  2. OPEC Annual Statistical Bulletin · opec.org