The economy of Kuwait grew by 1.3% in 2022, recovering from an 8.9% contraction in 2021, according to IMF estimates. source: Kuwait Central Statistical Bureau

GDP Annual Growth Rate in Kuwait averaged 2.47 percent from 1963 until 2020, reaching an all time high of 33.99 percent in the fourth quarter of 1993 and a record low of -20.62 percent in the fourth quarter of 1980. This page provides - Kuwait GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Kuwait GDP Annual Growth Rate - values, historical data and charts - was last updated on February of 2023.

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Kuwait GDP Annual Growth Rate

Related Last Previous Unit Reference
GDP Annual Growth Rate 1.30 -11.20 percent Dec 2021
GDP Constant Prices 9011.40 8607.90 KWD Million Dec 2020
GDP Growth Rate 4.70 0.40 percent Dec 2020

Kuwait GDP Annual 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. .
Actual Previous Highest Lowest Dates Unit Frequency
1.30 -11.20 33.99 -20.62 1963 - 2021 percent Quarterly