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    Institute of Management Studies Davv, Indore

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    Kuwait's economy is dominated by oil. Petroleum accounts for over half of GDP, 95% of export revenues, and 90% of government income. Kuwait has significant oil reserves and is a major exporter and producer of oil. The Kuwaiti economy has grown in recent decades due to rising oil revenues, with GDP per capita among the highest in the world. However, the government is seeking to diversify the economy and reduce dependence on oil through reforms and large infrastructure investments under the Kuwait Vision 2035 plan.

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    Institute of Management Studies Davv, Indore

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    Kuwait's economy is dominated by oil. Petroleum accounts for over half of GDP, 95% of export revenues, and 90% of government income. Kuwait has significant oil reserves and is a major exporter and producer of oil. The Kuwaiti economy has grown in recent decades due to rising oil revenues, with GDP per capita among the highest in the world. However, the government is seeking to diversify the economy and reduce dependence on oil through reforms and large infrastructure investments under the Kuwait Vision 2035 plan.

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    Kuwait

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    Kuwait's economy is dominated by oil. Petroleum accounts for over half of GDP, 95% of export revenues, and 90% of government income. Kuwait has significant oil reserves and is a major exporter and producer of oil. The Kuwaiti economy has grown in recent decades due to rising oil revenues, with GDP per capita among the highest in the world. However, the government is seeking to diversify the economy and reduce dependence on oil through reforms and large infrastructure investments under the Kuwait Vision 2035 plan.

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    25 views11 pages

    Institute of Management Studies Davv, Indore

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    S
    Kuwait's economy is dominated by oil. Petroleum accounts for over half of GDP, 95% of export revenues, and 90% of government income. Kuwait has significant oil reserves and is a major exporter and producer of oil. The Kuwaiti economy has grown in recent decades due to rising oil revenues, with GDP per capita among the highest in the world. However, the government is seeking to diversify the economy and reduce dependence on oil through reforms and large infrastructure investments under the Kuwait Vision 2035 plan.

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    of 11

    Institute of Management Studies

    Davv, Indore

    A Presentation on:
    Kuwait’s Economy

    Submitted to: Submitted by:


    Dr. Yamini Karmarkar Ayushi Jain (64127)
    Kapil Jain (64144)
    Country Profile
    • Kuwait is a small, relatively open and petroleum-based economy. It shares its borders
    Iraq and Saudi Arabia. The Kuwaiti Dinar is the highest-valued unit of currency in the
    world. According to the World Bank, Kuwait is the fourth richest country in the
    world per capita.
    • 1 KWD = 3.29 USD
    1 KWD = 227.77 INR
    • Capital of Kuwait - Kuwait City
    • Total Population : 4,136,528
    • GDP(billions USD) :144.52
    GDP per Capita (USD) :33,674  
    GDP growth rate : 2.33%
    Inflation Rate : 0.8%
    • Petroleum accounts for over half of GDP, 95% of export revenues, and 90% of
    government income.
    • In 2017, 3.52 percent of the employees in Kuwait were active in the agricultural sector,
    26.68 percent in industry and 69.8 percent in the service sector.
    GDP growth rate
    Macroeconomic Indicator
    Particulars Last Previous Refernce Frequency
    Balance of Trade 3139 2645 Sep/18 Quaterly
    (KWD million)
    Current Account 2155 2648 Sep/18 Quaterly
    (KWD million)
    Exports (KWD 5946 5358 Sep/18 Quaterly
    million)
    Imports-(KWD 2807 2712 Sep/18 Quaterly
    million)
    Contribution in International Business
    • Kuwait is the world´s eighth biggest exporter and the tenth largest producer of oil.
     Kuwait is the 58th largest export economy in the world.
    • The GDP value of Kuwait represents 0.19 percent of the world economy.
    • It has crude oil reserves of about 102 billion barrels - more than 8% of world
    reserves.

    Exchange Rate Policy


    The dinar is a controlled currency, so it does not freely float against other global
    currencies by taking its price from supply and demand. The Central Bank of Kuwait
    enforces this controlled currency policy to maintain the stability of the dinar’s value
    and decrease the risk of inflation.
    Trading Partners
    Major Trading Major Goods and Services
    Countries
    United States Shipments of crude and refined oil
    South Korea account for 95 percent of total exports,
    organic chemicals (2.2%)
    China Vehicles(1.6%)
    Export India
    Japan
    United States Machinery, mechanical appliances,
    China electrical equipment and electronics (24
    percent of total imports), transport
    Saudi Arabia equipment (14 percent); base metals and
    Import South Korea articles thereof (12 percent); chemicals
    and related products (9 percent) and
    Japan, Germany, vegetables (6 percent).
    India
    Political Milieu
    • Kuwait is a constitutional monarchy with a parliamentary system of government.
    The chief of state is the Emir, a hereditary title, is chosen from the ruling Al-Sabah
    family. The Emir has the power to appoint the Prime Minister, dissolve the
    Parliament and suspend certain parts of the Constitution. The current Emir is
    Sheikh Sabah Al-Ahmed Al-Jaber Al-Sabah, who acceded to the throne in January
    2006 and Prime Minister is Jaber Al-Mubarak Al-Hamad Al-Sabah (since 2011)
    • The parliament, called National Assembly, has 50 members which are elected by
    popular vote to serve four-year terms. The people of Kuwait enjoy limited political
    rights.
    • Formation of political parties is not permitted, but political groupings, such as
    parliamentary blocs, have been allowed to emerge.
    • Women were granted the right to vote in 2005 and can be, and have been, elected
    to parliament.
    Membership with International Bodies
    International Organization Membership Since
    World Trade Organization 1 January 1955
    OPEC (Founding member) 1960
    GCC (Founding member) 25 May 1981
    GAFTA (Founding member) 1 January 1988
    GATT 3 May 1963
    UN 14 May 1963
    IMF 13 September 1962
    World Bank 13 September 1962
    Top 10 MNC’s in Kuwait
    Companies Sector Market Capitalisation
    National Bank of Kuwait Banking and Financial services $16.94bn
    Kuwait Finance House Banking and Financial services $12.36bn
    Mobile Telecommunications Telecommunication $6.83bn
    Company
    Agility Public Warehousing Transportation $4.42bn
    Co
    Boubyan Bank Banking and Financial services $4.36bn
    Commercial Bank of Kuwait Banking and Financial services $3.01bn
    Gulf Bank Banking and Financial services $2.55bn
    Mabanee Company Real Estate $2.16bn
    Ahli United Bank Banking and Financial services $1.98bn
    Boubyan Petrochemical Industrial Conglomerates $1.92bn
    Company
    Probable Future in International Business
    • New Kuwait Vision 2035 : It’s a national development plan aims to transform
    Kuwait into a financial, commercial and cultural hub for the northern Gulf region.
    Vision 2035 focuses on long-term development priorities including infrastructure
    projects and strengthening the private sector, to reduce Kuwait's dependency on
    oil export revenues.
    • Kuwait has implemented reforms to allow 100 per cent foreign investments in
    most non-oil and gas sectors and is seeking to encourage foreign businesses into
    Kuwait.
    • In recent years Kuwait is spending approximately $25 billion per year on
    infrastructure projects, more than they have ever spent in the past.
    • In Kuwait, there is a strong demand for U.S. technology, services, and products.
    • Kuwait is planning to invest $20 billion in its civil aviation sector over the next
    decade.
    Thank You

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