This page has economic forecasts for Kuwait including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Kuwait economy.


Overview Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Unemployment Rate 2.08 2.2 2.1 2.1 2.1 2.3 percent
Inflation Rate 0.30 1.3 2.5 3.3 3.6 3.5 percent
Interest Rate 3.00 3.25 3.25 3.25 3.5 4 percent
Balance of Trade 2645.00 2565 2574 2558 2539 2312 KWD Million
Government Debt to GDP 27.10 22 25 25 25 27 percent
MARKETS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Stock Market 5101.77
points
6528 6476 6424 6424 6221
Currency 0.30
0.31 0.3 0.3 0.3 0.36
GDP Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Annual Growth Rate 1.90
percent
3.2 5.3 4.2 3.7 3.9
GDP 120.13
USD Billion
127 136 136 136 142
GDP Constant Prices 9929.50
KWD Million
10483 10311 10347 10297 11252
Gross Fixed Capital Formation 10541.90
KWD Million
10879 11101 10985 10932 11677
GDP per capita 33545.60
USD
33675 34777 34777 34777 35000
GDP per capita PPP 65530.50
USD
66245 69651 69651 69651 70000
GDP Growth Rate 1.40
percent
3.2 -4 -1 0.7 2.5
LABOUR Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Unemployment Rate 2.08
percent
2.2 2.1 2.1 2.1 2.3
Population 4.10
Million
4.11 4.09 4.08 4.06 3.96
Labor Force Participation Rate 69.00
percent
68.47 68.36 68.25 68.14 67.33
PRICES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Inflation Rate 0.30
percent
1.3 2.5 3.3 3.6 3.5
Producer Prices 136.40
Index Points
135 135 135 135 134
Inflation Rate Mom -0.09
percent
0.03 0.06 0.07 0.08 0.09
Consumer Price Index Cpi 113.10
Index Points
114 115 117 117 122
CPI Transportation 119.90
Index Points
120 122 124 124 127
Food Inflation 0.37
percent
0.9 1 0.8 1.2 3
MONEY Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Interest Rate 3.00
percent
3.25 3.25 3.25 3.5 4
Money Supply M1 10212.50
KWD Million
10279 10292 10280 10280 10280
Money Supply M2 37924.90
KWD Million
37000 37783 37784 37784 40600
Money Supply M3 37924.90
KWD Million
37800 37793 37794 37794 37794
Deposit Interest Rate 1.60
percent
1.85 1.85 1.85 2.1 2.6
Loan Growth 1.60
percent
6.5 1.64 1.61 1.63 4.8
Loans To Private Sector 38007.60
KWD Million
38717 39038 39346 39642 41856
Interbank Rate 1.56
percent
1.81 1.81 1.81 2.06 2.56
Reverse Repo Rate 2.25
percent
2.5 2.67 2.81 2.92 3
Banks Balance Sheet 64350.40
KWD Million
64661 64693 64706 64721 64740
Central Bank Balance Sheet 10534.00
KWD Million
10518 10514 10509 10511 10511
Foreign Exchange Reserves -610.00
KWD million
450 -489 -483 -478 680
TRADE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Balance of Trade 2645.00
KWD Million
2565 2574 2558 2539 2312
Exports 5358.00
KWD Million
5363 5345 5356 5361 5359
Imports 2712.00
KWD Million
2745 2771 2798 2822 3047
Current Account 2878.00
KWD Million
3708 3687 3425 3142 3064
Current Account to GDP 5.90
percent
11 10.8 10.8 10.8 9
Capital Flows -6649.00
KWD Million
-3858 -3596 -3335 -3074 -3461
Remittances 1186.00
KWD Million
1128 1137 1122 1126 1120
Tourist Arrivals 7055.00
Thousand
6700 6650 6600 6550 6100
Gold Reserves 79.00
Tonnes
78.98 78.98 78.98 78.98 78.98
Crude Oil Production 2733.00
BBL/D/1K
2750 2748 2800 2820 2900
Terrorism Index 3.80
3.8 3.8 3.8 3.8 3.8
Tourism Revenues 643.00
USD Million
701 703 705 707 711
Foreign Direct Investment -8.00
KWD Million
-7.43 17.88 -4.69 11.15 -1.96
GOVERNMENT Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Government Debt to GDP 27.10
percent
22 25 25 25 27
Government Budget 6.60
percent of GDP
11.5 12 12 12 9
Government Spending 9114.90
KWD Million
9407 9598 9498 9452 10096
Military Expenditure 6692.89
USD Million
5980 5909 5837 5766 6578
BUSINESS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Internet Speed 7920.05
KBps
9685 9921 10055 10261 11802
IP Addresses 126534.00
IP
132529 131690 132168 132115 132122
Ease of Doing Business 97.00
96 96 96 96 97
Competitiveness Index 62.14
Points
62.64 62.64 62.64 62.64 65.14
Competitiveness Rank 54.00
54 54 54 54 54
Corruption Index 39.00
Points
39 39 39 39 39
Corruption Rank 85.00
85 85 85 85 85
CONSUMER Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Consumer Spending 15760.50
KWD Million
16265 16596 16422 16344 17457
Bank Lending Rate 4.81
percent
5.06 5.06 5.06 5.31 5.81
Gasoline Prices 0.28
USD/Liter
0.28 0.27 0.27 0.26 0.24
TAXES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Corporate Tax Rate 15.00
percent
15 15 15 15 15
Personal Income Tax Rate 0.00
percent
0 0 0 0 0
Social Security Rate 22.00
percent
22 22 22 22 22
Social Security Rate For Companies 11.50
percent
11.5 11.5 11.5 11.5 11.5
Social Security Rate For Employees 10.50
percent
10.5 10.5 10.5 10.5 10.5
CLIMATE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Precipitation 39.18
mm
13.6 18.38 10.11 10.11 9.9
Temperature 13.13
celsius
20.48 15.54 36.34 32.05 25.72



Kuwait - Economic Forecasts - 2018-2020 Outlook