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Kuwait GDP Annual Growth Rate

Kuwait's GDP annual growth rate fell to -2.56% in 2024, down from -1.67% in 2023, according to World Bank. This represents a decrease of 0.89% from the previous year. Kuwait has the 6th lowest GDP annual growth rate. Within Asia, it ranks 46th out of 47 countries.

Kuwait's real GDP fell to $116.89 billion in 2024, down from $119.96 billion in 2023.

Yearly Historical Data (1971-2024)

(in %)
Year GDP Annual Growth Rate (%)
2024 -2.56%
2023 -1.67%
2022 6.76%
2021 1.67%
2020 -4.82%
2019 2.26%
2018 2.74%
2017 -4.71%
2016 2.93%
2015 0.59%
2014 0.5%
2013 1.15%
2012 6.63%
2011 9.63%
2010 -2.37%
2009 -7.08%
2008 2.48%
2007 5.99%
2006 7.51%
2005 10.61%
2004 10.24%
2003 17.33%
2002 3.01%
2001 0.21%
2000 4.69%
1999 -1.79%
1998 3.66%
1997 2.47%
1996 0.61%
1995 4.86%
1994 8.44%
1993 33.99%
1992 82.81%
1991 -41.01%
1990 -26.23%
1989 25.89%
1988 -10.05%
1987 8.15%
1986 8.57%
1985 -4.26%
1984 5.24%
1983 7.94%
1982 -11.75%
1981 -18.92%
1980 -19.41%
1979 13.9%
1978 7.35%
1977 -3.85%
1976 6.61%
1975 -12.27%
1974 -12.99%
1973 -6.57%
1972 3.9%
1971 7.04%
Kuwait GDP Annual Growth Rate : Definition
GDP Annual Growth Rate measures the yearly percentage change in Kuwait's total economic output.
Indicator Last Value Prior Value Period
GDP $160.23B $165.38B 2024
GDP Growth Rate (YoY) 1% -0.8% Mar'25
GDP per Capita $23,500.26 $24,716.2 2024
GDP per Capita PPP $45,426.95 $47,777.4 2024
R&D Expenditure (% GDP) 0.1% 0.08% 2023
Real GDP $116.89B $119.96B 2024