GDP in Kuwait

Kuwait GDP | Economic News & Forecasts

Kuwait - GDP

OPEC’s decision only to extend the duration of its oil output cuts but not to deepen them at its 25 May meeting has driven crude prices lower. Nonetheless, efforts to diversify the government’s resources away from oil revenues, coupled with an outstandingly strong public balance sheet, were seen by Moody’s as reason enough to upgrade the country’s sovereign credit rating outlook from negative to stable on 26 May. The rating agency noted however that the timeline for introducing a long-awaited VAT, originally planned for January of next year and one of Kuwait’s key diversification measures, had slipped. In late April, Finance Minister Anas Khaled Al Saleh had argued that Kuwait still lacked the infrastructure to implement and collect the tax.

Kuwait - GDP Data

2011  2012  2013  2014  2015  
Economic Growth (GDP, annual variation in %)9.6  6.6  1.2  0.5  1.9  

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Kuwait GDP Chart


Kuwait GDP
Note: Annual variation of gross domestic product (GDP) in %.
Source: Central Bank of Kuwait.

Kuwait Facts

ValueChangeDate
Exchange Rate0.300.10 %Jun 16
Stock Market6,8530.62 %Jun 16

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