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Kuwait Real GDP

Kuwait's real GDP fell to $116.89 billion in 2024, down from $119.96 billion in 2023, according to World Bank. This represents a decrease of 2.6% ($3.07 billion) from the previous year and accounts for 0.12% of the world's total real GDP. Kuwait has real GDP higher than the global median ($116.89 billion vs median $29.34 billion). Compared with the median in Asia, Kuwait is higher ($116.89 billion vs regional median $91.45 billion) and ranks 22nd 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 (1970-2024)

(in Billion USD)
Year Real GDP (Billion USD)
2024 116.89
2023 119.96
2022 121.99
2021 114.27
2020 112.39
2019 118.08
2018 115.46
2017 112.38
2016 117.94
2015 114.59
2014 113.91
2013 113.34
2012 112.05
2011 105.09
2010 95.86
2009 98.19
2008 105.67
2007 103.11
2006 97.28
2005 90.48
2004 81.8
2003 74.2
2002 63.25
2001 61.4
2000 61.26
1999 58.52
1998 59.58
1997 57.48
1996 56.09
1995 55.75
1994 53.17
1993 49.03
1992 36.6
1991 20.02
1990 33.93
1989 46
1988 36.54
1987 40.62
1986 37.56
1985 34.6
1984 36.14
1983 34.34
1982 31.81
1981 36.05
1980 44.46
1979 55.17
1978 48.44
1977 45.12
1976 46.93
1975 44.02
1974 50.18
1973 57.67
1972 61.73
1971 59.41
1970 55.5
Kuwait Real GDP : Definition
Real GDP is defined as the value of all goods and services produced in Kuwait, measured in US dollars adjusted to 2015 prices. By fixing prices to a base year, it removes the effect of inflation, so this represents real GDP rather than nominal GDP.
Indicator Last Value Prior Value Period
GDP $160.23B $165.38B 2024
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