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Kuwait GDP

Kuwait's GDP fell to $160.23 billion in 2024, down from $165.38 billion in 2023, according to World Bank. This represents a decrease of 3.1% ($5.16 billion) from the previous year and accounts for 0.14% of the world's total GDP. Kuwait has GDP higher than the global median ($160.23 billion vs median $35.85 billion). Compared with the median in Asia, Kuwait is higher ($160.23 billion vs regional median $98.96 billion) and ranks 21st out of 47 countries in Asia.

Kuwait's GDP per capita fell to $23,500.26 in 2024, down from $24,716.2 in 2023.

Yearly Historical Data (1962-2024)

(in Billion USD)
Year GDP (Billion USD)
2024 160.23
2023 165.38
2022 183.5
2021 148.35
2020 111.05
2019 140.86
2018 138.65
2017 120.69
2016 109.41
2015 114.59
2014 162.65
2013 174.17
2012 174.05
2011 154.04
2010 115.42
2009 105.97
2008 147.38
2007 114.63
2006 101.56
2005 80.8
2004 59.44
2003 47.87
2002 38.14
2001 34.89
2000 37.72
1999 30.12
1998 25.94
1997 30.35
1996 31.49
1995 27.19
1994 24.85
1993 23.94
1992 19.86
1991 11.01
1990 18.43
1989 24.31
1988 20.69
1987 22.37
1986 17.9
1985 21.45
1984 21.7
1983 20.87
1982 21.58
1981 25.06
1980 28.64
1979 24.75
1978 15.5
1977 14.14
1976 13.13
1975 12.02
1974 13.01
1973 5.41
1972 4.45
1971 3.88
1970 2.87
1969 2.77
1968 2.66
1967 2.44
1966 2.39
1965 2.1
1964 2.07
1963 1.9
1962 1.83
Kuwait GDP : Definition
GDP measures the total value of all goods and services produced in Kuwait, measured in current US dollars. It is also called Nominal GDP.
Indicator Last Value Prior Value Period
GDP Annual Growth Rate -2.56% -1.67% 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