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Kuwait has a geographically small, but wealthy, relatively open economy with self-reported crude oil reserves of about 102 billion barrels - about 9% of world reserves. Petroleum accounts for nearly half of GDP, 95% of export revenues, and 95% of government income. Kuwaiti officials have committed to increasing oil production to 4 million barrels per day by 2020. Kuwait survived the economic crisis on the strength of budget surpluses generated by high oil prices, posting its tenth consecutive budget surplus in 2008, before slipping into deficit territory in 2009. Kuwait has done little to diversify its economy, in part, because of this positive fiscal situation, and, in part, due to the poor business climate and the acrimonious relationship between the National Assembly and the executive branch, which has stymied most movement on economic reforms. Nonetheless, the government in 2009 passed an economic development plan that pledges to spend up to $140 billion in five years to diversify the economy away from oil, attract more investment, and boost private sector participation in the economy. Increasing government expenditures by so large an amount during the planned time frame may be difficult to accomplish.
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$142.1 billion (2009 est.)
country comparison to the world: 59
$144.6 billion (2008 est.)
$133.2 billion (2007 est.)
note:
data are in 2009 US dollars
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$111.3 billion (2009 est.)
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-1.7% (2009 est.)
country comparison to the world: 143
8.5% (2008 est.)
4.4% (2007 est.)
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$52,800 (2009 est.)
country comparison to the world: 7
$55,600 (2008 est.)
$53,200 (2007 est.)
note:
data are in 2009 US dollars
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agriculture: 0.3%
industry:
48.2%
services:
51.5% (2009 est.)
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2.04 million
country comparison to the world: 119
note:
non-Kuwaitis represent about 60% of the labor force (2009 est.)
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agriculture: NA%
industry:
NA%
services:
NA%
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2.2% (2004 est.)
country comparison to the world: 15
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NA%
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lowest 10%: NA%
highest 10%:
NA%
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29.6% of GDP (2009 est.)
country comparison to the world: 27
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revenues: $72.02 billion
expenditures:
$47.57 billion (2009 est.)
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8.1% of GDP (2009 est.)
country comparison to the world: 120
7.6% of GDP (2008 est.)
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4% (2009 est.)
country comparison to the world: 131
10.6% (2008 est.)
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2.5% (10 February 2010)
country comparison to the world: 123
3.75% (31 December 2008)
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5.9% (31 December 2009)
country comparison to the world: 120
7.61% (31 December 2008)
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$16.05 billion (31 December 2009)
country comparison to the world: 46
$15.31 billion (31 December 2008)
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$71.79 billion (31 December 2009)
country comparison to the world: 33
$63.08 billion (31 December 2008)
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$88.77 billion (31 December 2008)
country comparison to the world: 42
$78.25 billion (31 December 2007)
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$96.32 billion (31 December 2009)
country comparison to the world: 34
$107.2 billion (31 December 2008)
$188 billion (31 December 2007)
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fish
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petroleum, petrochemicals, cement, shipbuilding and repair, water desalination, food processing, construction materials
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-7% (2009 est.)
country comparison to the world: 123
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45.83 billion kWh (2007 est.)
country comparison to the world: 50
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40.21 billion kWh (2007 est.)
country comparison to the world: 50
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0 kWh (2008 est.)
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0 kWh (2008 est.)
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2.494 million bbl/day (2009 est.)
country comparison to the world: 10
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320,000 bbl/day (2009 est.)
country comparison to the world: 40
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2.349 million bbl/day (2007 est.)
country comparison to the world: 6
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0 bbl/day (2007 est.)
country comparison to the world: 205
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104 billion bbl (1 January 2009 est.)
country comparison to the world: 5
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12.7 billion cu m (2008 est.)
country comparison to the world: 37
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12.7 billion cu m (2008 est.)
country comparison to the world: 42
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0 cu m (2008 est.)
country comparison to the world: 78
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300 million cu m (2009 est.)
country comparison to the world: 63
note:
Kuwait signed a deal to import 2 billion cu m per year in 2010 and beyond
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1.794 trillion cu m (1 January 2009 est.)
country comparison to the world: 19
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$32.01 billion (2009 est.)
country comparison to the world: 10
$64.78 billion (2008 est.)
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$50.25 billion (2009 est.)
country comparison to the world: 45
$86.94 billion (2008 est.)
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oil and refined products, fertilizers
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Japan 17.9%, South Korea 17.31%, India 12.43%, Taiwan 9.07%, US 7.9%, China 7.55%, Singapore 5.48% (2009)
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$17.09 billion (2009 est.)
country comparison to the world: 73
$22.94 billion (2008 est.)
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food, construction materials, vehicles and parts, clothing
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US 11.18%, China 9.07%, Germany 7.63%, Japan 7.14%, Saudi Arabia 6.24%, Italy 5%, France 4.77%, India 4.09%, UK 4.02% (2009)
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$20.38 billion (31 December 2009 est.)
country comparison to the world: 53
$17.23 billion (31 December 2008 est.)
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$32.5 billion (31 December 2009 est.)
country comparison to the world: 58
$36.89 billion (31 December 2008 est.)
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$1.078 billion (31 December 2009 est.)
country comparison to the world: 86
$999 million (31 December 2008 est.)
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$34.63 billion (31 December 2009 est.)
country comparison to the world: 32
$25.68 billion (31 December 2008 est.)
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Kuwaiti dinars (KD) per US dollar - 0.283 (2009), 0.2679 (2008), 0.2844 (2007), 0.29 (2006), 0.292 (2005)
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