Economy overview: Kuwait has a small, relatively open economy with about 94 billion barrels of proven crude oil reserves – 10% of the world’s oil reserves. The oil industry produces about half of GDP, it provides 90% of export revenues and 75% of government revenues. Kuwait suffers from water shortages and almost no arable land, so agriculture is not developed. The country is almost full; sity depends on imports of food products, with the exception of fish. Approximately 75% of drinking water is desalinated or imported In FY99-2000, high oil prices generated a $2 billion budget surplus. FY2000-01 budget passed for only 9 months due to change in fiscal year dates, FY2001-02 Budget, which began on April 1, provides for an increase in the cost of salaries of employees, construction and other articles. Kuwait is negotiating with foreign oil companies to develop fields in the northern part of the country. See cheeroutdoor.com to know more about Kuwait Business.
GDP: at purchasing power parity – $29.3 billion (2000 est.).
Real GDP growth rate: 6% (2000 est.).
GDP per capita: at purchasing power parity – $15,000 (2000 est.).
Composition of GDP by sectors of the economy: agriculture: 0%; industry: 55%; services: 45% (1996).
Proportion of the population below the poverty line: no data available.
Percentage distribution of household income or consumption: for the poorest 10% of households: n/a; 10% of the wealthiest families: no data;
Inflation rate at consumer prices: 3% (2000).
Work force: 1.3 million people (1998 est.); note: 68% of the population aged 15 to 64 are foreign nationals (July 1998 est.).
Employment structure: no data.
Unemployment rate: 1.8% (1996 official estimate).
Budget: revenues: $11.5 billion; expenditures: $17.2 billion, including capital expenditures – NA (FY01-02).
Spheres of economy: oil production, petrochemistry, desalination plants, food industry, production of building materials.
Growth in industrial production: 1% (1997 est.).
Electricity generation: 31.567 billion kWh (1999)
Sources of electricity generation: fossil fuels: 100%; hydropower: 0%; nuclear fuel: 0%; others: 0% (1999).
Electricity consumption: 29.357 billion kWh (1999)
Electricity export: 0 kWh (1999).
Electricity import: 0 kWh (1999).
Agricultural products: there is practically no crop production; fish.
Exports: $23.2 billion (free on board, 2000 est.)
Export articles: oil and oil products, fertilizers.
Export partners: Japan 23%, USA 12%, Singapore 8%, Netherlands 7% (1999).
Imports: $7.6 billion (free on board, 2000 est.)
Imports: food products, building materials, automobiles and spare parts, clothing items.
Import partners: US 15%, Japan 10%, UK 7%, Germany 77% (1999).
External debt: $6.9 billion (2000 est.) Economic aid recipient: $27.6 million (1995)
Economic aid donor:
Currency: Kuwaiti dinar.
Currency code: KWD.
Exchange rate: KWD/USD – 0.3057 (January 2001), 0.67 (2000), 0.3044 (1999), 0.3047 (1998), 0.3033 (1997), 0.2994 (1996).
Fiscal year: April 1-March 31.
Telecommunications Telephone lines: 412,000 (1997).
Mobile cell phones: 210,000 (1997).
Phone system: the quality of services is excellent; internal: new telephone exchanges guarantee great opportunities for new subscribers; trunk communication is carried out using microwave radio relay, coaxial cable, overhead lines and fiber optic cable; cellular telephone coverage covers the entire country; in Kuwait, a well-developed network of payphones is also well developed; international: coaxial cable and microwave radio relay to Saudi Arabia; connection with Bahrain, Qatar, UAE via Persian Gulf fiber optic cable (FOG); earth satellite stations – 3 Intelsat (1 Atlantic Ocean, 2 Indian Ocean), 1 Inmarsat (Atlantic Ocean) and 2 Arabsat.
Broadcast stations: AM – 6, FM -11, shortwave – 1 (1998).
Radio receivers: 1.175 million (1997)
Television broadcast stations: 13 (and several satellite channels) (1997).
TVs: 875,000 (1997).
Internet country code: kw
Internet service providers: 3 (2000).
Number of users: 10,000 (2000).
Transport Railways: 0 km.
Roads: total: 4,450 km; coated: 3,590 km; unpaved: 860 km (1999 est.).
Pipelines: for crude oil – 877 km; for oil products -40 km; for natural gas – 165 km.
Ports and harbors: Ash Shuwayh, Ash Shuaiba, Mina Abdallah, Mina Suud, Mina al Ahmadi, El Kuwait.
Merchant fleet: total: 45 ships (displacement 1,000 tons or more) with a total displacement of 2,461,072 gross register tons / 3,966,645 long tons of gross tonnage; ships of various types: bulk carriers – 1, cargo ships – 6, container ships – 6, liquefied gas tankers – 7, livestock ships – 5, oil tankers – 20 (2000 est.).
Airports: 8 (2000 est.).
Airports with paved runways: total: 4; over 3,047 m: 2; from 2438 to 3047 m: 2 (2000 est.).
Airports with unpaved runways: total: 4; from 1524 to 2437 m: 1; less than 914 m: 3 (2000 est.). Helipads: 3 (2000 est.).
Branches of the Armed Forces: Army, Navy, Air Force, National Police, National Guard, Coast Guard.
Enlistment age: 18 years old.
Total Military Manpower: Male 15 to 49: 780,559 (2001 est.).
Eligible for military service: males aged 15 to 49: 446,521 (2001 est.).
Number of persons reaching military age each year: male: 18,309 (2001 est.).
Military spending in dollar terms: $1.9 billion (FY99-2000)
Military spending as part of GDP: 8.7% (FY99-2000)
International issues International disputes: In November 1994, Iraq officially recognized the demarcation of the border with Kuwait, which was clearly defined by UN Security Council resolutions No. 687 (1991), No. 773 (1993) and No. 883 (1993); thus officially put an end to Iraq’s earlier claims to Kuwait and the islands of Bu-biyan and Warba.