GDP in Kuwait

Kuwait GDP | Economic News & Forecasts

Kuwait - GDP

The economy likely picked up pace in sequential terms in Q3, due to stronger oil sector activity. Oil production rose at a brisk pace in the period, in line with OPEC+’s decision to ease output curtailments. Meanwhile, looser restrictions and solid vaccination progress pushed consumer consumption levels to a record high in Q3, although a less favorable base effect saw annual growth taper dramatically relative to Q2. Turning to Q4, crude oil production rose in October–November and will likely continue to expand well into the first quarter of 2022, which should support the energy sector. In politics, a new cabinet was formed in late December—the third within a year. It remains uncertain whether the appointments will speed up progress on key economic reforms such as a new debt financing law, but the composition could weaken the sway of opposition lawmakers who have previously blocked reforms in parliament.

Kuwait - GDP Data

2015   2016   2017   2018   2019  
Economic Growth (GDP, annual variation in %)0.6  2.9  -4.7  1.2  0.4  

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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

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

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