GDP in Kuwait

Kuwait GDP | Economic News & Forecasts

Kuwait - GDP

On 3 January, Kuwait delivered on an OPEC agreement reached in December that aims at reducing oversupply in the global oil market. Kuwaiti authorities announced a cut in daily crude output by 130,000 barrels, or 4.6% of the country’s production. After the country’s deficit plunged into double digits last year on the back of dwindling oil-related revenues, the decision will buttress crude prices and could prevent the government from implementing harsher fiscal consolidation measures in 2017 as oil revenues rise. Nonetheless, risks are mostly tilted to the downside, since several OPEC members are unlikely to be able to implement the cuts. This could see Kuwait increasing output later in the year as production in the Al-Khafji and Wafra fields picks up.

Kuwait - GDP Data

2011  2012  2013  2014  2015  
Economic Growth (GDP, annual variation in %)9.6  6.6  1.2  -1.6  -     

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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

Exchange Rate0.310.02 %Jan 20
Stock Market6,6423.20 %Jan 20

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