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    Kuwait Economy - 2003
    https://theodora.com/wfb2003/kuwait/kuwait_economy.html
    SOURCE: 2003 CIA WORLD FACTBOOK

      Economy - overview: Kuwait is a small, rich, relatively open economy with proved crude oil reserves of about 98 billion barrels - 10% of world reserves. Petroleum accounts for nearly half of GDP, 95% of export revenues, and 80% of government income. Kuwait's climate limits agricultural development. Consequently, with the exception of fish, it depends almost wholly on food imports. About 75% of potable water must be distilled or imported. Kuwait continues its discussions with foreign oil companies to develop fields in the northern part of the country. Oil production declined by an estimated 8% in 2002 but is expected to return to the 2001 level in 2003.


      GDP: purchasing power parity - $34.2 billion (2002 est.)


      GDP - real growth rate: -2% (2002 est.)


      GDP - per capita: purchasing power parity - $15,000 (2002 est.)


      GDP - composition by sector: agriculture: 0.3%
      industry: 60%
      services: 39.7% (2000)


      Population below poverty line: NA%


      Household income or consumption by percentage share: lowest 10%: NA%
      highest 10%: NA%


      Inflation rate (consumer prices): 2% (2002)


      Labor force: 1.3 million
      note: non-Kuwaitis represent about 80% of the labor force. (1998 est.)


      Labor force - by occupation: agriculture NA, industries NA, services NA


      Unemployment rate: 7% (2002 est.)


      Budget: revenues: $11 billion
      expenditures: $17.5 billion, including capital expenditures of $NA (FY02/03)


      Industries: petroleum, petrochemicals, desalination, food processing, construction materials


      Industrial production growth rate: -5% (2002 est.)


      Electricity - production: 31.49 billion kWh (2001)


      Electricity - production by source: fossil fuel: 100%
      hydro: 0%
      other: 0% (2001)
      nuclear: 0%


      Electricity - consumption: 29.29 billion kWh (2001)


      Electricity - exports: 0 kWh (2001)


      Electricity - imports: 0 kWh (2001)


      Oil - production: 2.117 million bbl/day (2001 est.)


      Oil - consumption: 273,000 bbl/day (2001 est.)


      Oil - exports: NA (2001)


      Oil - imports: NA (2001)


      Oil - proved reserves: 97.68 billion bbl (January 2002 est.)


      Natural gas - proved reserves: 1.548 trillion cu m (January 2002 est.)


      Agriculture - products: practically no crops; fish


      Exports: $16 billion f.o.b. (2002 est.)


      Exports - commodities: oil and refined products, fertilizers


      Exports - partners: Japan 21.5%, India 15.6%, South Korea 10.9%, US 10.7%, Singapore 6.6%, Netherlands 5.1%, Pakistan 3.8%, UK 2.2% (2001)


      Imports: $7.3 billion f.o.b. (2002 est.)


      Imports - commodities: food, construction materials, vehicles and parts, clothing


      Imports - partners: US 12.6%, Germany 9.3%, Japan 9.2%, Saudi Arabia 7.5%, UK 7.2%, Italy 5.4%, India 4.5% (2001)


      Debt - external: $10.4 billion (2000 est.)


      Economic aid - recipient: NA


      Currency: Kuwaiti dinar (KD)


      Currency code: KWD


      Exchange rates: Kuwaiti dinars per US dollar - 0.3039 (2002), 0.3067 (2001), 0.3068 (2000), 0.3044 (1999), 0.3048 (1998)


      Fiscal year: 1 April - 31 March


      NOTE: The information regarding Kuwait on this page is re-published from the 2003 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Guinea Geography 2003 information contained here. All suggestions for corrections of any errors about Kuwait Economy 2003 should be addressed to the CIA.

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    https://theodora.com/wfb2003/kuwait/kuwait_economy.html

    Revised 20-Sep-03
    Copyright © 2003 Photius Coutsoukis (all rights reserved)


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