GDP in Kuwait

Kuwait GDP | Economic News & Forecasts

Kuwait - GDP

There was a dual economic panorama in Q1. On one hand, the energy sector was held back by OPEC-agreed oil cuts, with oil production down from Q4. On the other hand, the non-oil sector likely picked up some of the slack: Private-sector credit growth was robust in the first three months of the year, which bodes well for consumer spending and private investment, while real estate sales were solid in January and February. Moreover, the country ran a small fiscal surplus in the first 11 months of FY 2018, which ran from April 2018 to March 2019. Turning to the second quarter, Kuwait continued to over-comply with OPEC cuts in April, suggesting the oil sector will remain subdued. This comes after the economy lost steam in the fourth quarter of last year on the back of slowdowns in both the oil and non-oil sectors.

Kuwait - GDP Data

2013  2014  2015  2016  2017  
Economic Growth (GDP, annual variation in %)1.2  0.5  0.6  3.5  -2.9  

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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 Rate0.30-0.05 %Jun 20

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