Kuwait GDP Growth Rate (YoY)
Kuwait's GDP annual growth rate reached 0.96% in Q1 2025, a recovery after seven quarters of contraction. This upturn followed a -0.75% growth rate in Q4 2024. The improvement stems from reduced voluntary oil production cuts, leading to less severe oil GDP contraction. Growth in non-oil sectors like public administration and financial services also contributed, though their expansion moderated. Kuwait began restoring oil output in April 2025, expected to further boost the oil sector. Kuwait's record low GDP annual growth rate was -9.12% in Q1 2021 and record high was 9.43% in Q1 2022.
Quarterly Historical Data (2015-2025)
(in %)Kuwait GDP Growth Rate (YoY) : Definition
Kuwait's GDP annual growth rate measures the yearly percentage change in the nation's total economic output. It is calculated by comparing the current year's Gross Domestic Product, measured in Kuwaiti Dinars, to the previous year's GDP. This rate is highly sensitive to fluctuations in global oil prices and production levels, key drivers of Kuwait's economy.