GDP in Kuwait
Kuwait - GDPThe 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 - GDP Data
|Economic Growth (GDP, annual variation in %)||0.6||2.9||-4.7||1.2||0.4|
5 years of economic forecasts for more than 30 economic indicators.
Kuwait GDP Chart
Source: Central Bank of Kuwait.
|Exchange Rate||0.30||-0.05 %||Dec 31|
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