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Kuwait: Economy
INTRODUCTION
1. Political situation
2. Economy
3. Health & Education
4. Religions & Peoples
5. History
GDP: US$36.2 billion
GDP/capita: US$16,450
GDP/sector: Agriculture 0%, Industry 60%, Services 40%
Foreign debts: US$6.9 billion (2000)
Foreign debts/GDP: 19%
Foreign debts/capita: US$3,300
Annual growth in GDP: 1.8%
Trade balance: +119%
Export products: Oil and refined products, fertilizers.
Annual inflation rate: 2.7% (2001)
Official unemployment: 1.8% (1996)
VALUE OF CURRENCY
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Since 1997:
US$1= between 0.30 and 0.31 Kuwaiti dinars
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There are few other sources of income for Kuwait than petroleum production, and income from the country's investments abroad. The foreign investments come from a fund that is based upon 10% of oil revenues. The oil reserves of Kuwait is estimated to around 10% of the world total, and will at the present level of extraction last for 150 years more. Production level did quickly return to the level it had before the Iraqi occupation in 1990.
Industries of Kuwait are connected to petroleum, and Kuwait is refining its oil.
Agriculture and food production is limited, and make up less than 2% of GNP. Fishing is becoming more and more important, and is at the level of 9,000 tons annually.
The infrastructure in the eastern part of Kuwait is well developed, and comprise 4,700 km of roads, and an international airport near Kuwait City. There are 5 newspapers, 2 in English. Telephones, radios, TV-sets, and PCs are common among all citizens.
© Copyright 1996-2008 LookLex Ltd. All rights reserved
By: Tore Kjeilen
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