Consumption in Kuwait

Kuwait Consumption | Economic News & Forecasts

Kuwait - Consumption

Economic activity seemingly recovered slightly in Q3, after the drop in oil production and prices, coupled with lockdown measures, likely weighed heavily on GDP in Q2. Most lockdown restrictions were eased in the third quarter, while private sector credit growth was relatively healthy in July–August, which should have supported domestic demand. That said, EIA data showed oil production year-on-year declined at a significantly sharper pace in Q3 compared to Q2, while energy exports were likely downbeat due to still-subdued oil prices and global demand. Meanwhile, in politics, the government committed to implementing a 5% VAT starting in April next year as part of its efforts to reduce its reliance on oil—a key requirement for lawmakers to pass a new and much-needed debt law.

Kuwait - Consumption Data

2015   2016   2017   2018   2019  
Consumption (annual variation in %)1.5  1.0  3.0  5.7  -     

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Kuwait Consumption Chart


Kuwait Consumption
Note: Annual variation of total consumption in %.
Source: Central Bank of Kuwait.

Kuwait Facts

Value Change Date
Exchange Rate0.30-0.05 %Dec 31

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