The Gross Domestic Product (GDP) in Kuwait contracted 0.70 percent in the third quarter of 2019 over the previous quarter. Kuwait GDP Growth Rate - data, historical chart, and calendar of releases - was last updated on February of 2020 from its official source.

GDP Growth Rate in Kuwait averaged 0.50 percent from 2010 until 2019, reaching an all time high of 13.50 percent in the fourth quarter of 2010 and a record low of -5.10 percent in the third quarter of 2010. This page provides - Kuwait Gdp Growth Rate- actual values, historical data, forecast, chart, statistics, economic calendar and news.

GDP Growth Rate in Kuwait is expected to be 2.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Kuwait to stand at 2.50 in 12 months time. In the long-term, the Kuwait GDP Growth Rate is projected to trend around 2.50 percent in 2021, according to our econometric models.


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Kuwait GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-0.70 -1.30 13.50 -5.10 2010 - 2019 percent Quarterly
NSA


Kuwait GDP Growth Rate
Kuwait holds the world´s sixth biggest proven reserves of oil as such oil sector accounts for 40 percent of GDP, 90 percent of total exports and 80 percent of state revenues. The services sector constitutes 30 percent of the output. Within services the largest segments are: community, social and personal services (11 percent of GDP); real estate and financial and business services (9 percent) and wholesale and retail trade and restaurants and hotels (8 percent). Manufacturing contributes for 23 percent of the wealth and construction and electricity, gas and water distribution for the remaining 7 percent.