Current Account in Kuwait

Kuwait Current Account | Economic News & Forecasts

Kuwait - Current Account

The energy sector has performed well so far this year, with oil output up around 14% in the first four months thanks to reduced OPEC+ curbs. In the non-oil sector, momentum was likely curbed in early 2022 by a surge in Covid-19 cases and some ensuing restrictions. However, since mid-February cases have fallen and these restrictions have been eased, supporting domestic consumption and visitor arrivals. In addition, both business and consumer lending improved during the first quarter, with the latter growing at a double-digit annual rate, while a multi-year high in the price of oil may be boosting government spending. However, the country has been in political limbo since the executive branch of government resigned in early April. This is delaying important reforms—including the approval of a new debt law that will allow the country to tap international bond markets.

Kuwait - Current Account Data

2015   2016   2017   2018   2019  
Current Account (% of GDP)3.5  -4.6  8.0  14.5  -     

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Kuwait Current Account Chart


Kuwait Current Account
Note: Current account balance as % of GDP.
Source: Central Bank of Kuwait and FocusEconomics calculations.

Kuwait Facts

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

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