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Kuwait

Profile

Kuwait_map_527x286px Kuwait+flag Emir+Sheikh+Sabah+al-Ahmad+al-Jaber+al-Sabah
Kuwait
Leader
Emir Sheikh Sabah al-Ahmad al-Jaber al-Sabah

Kuwait country datafile
Country overview
Government contacts

Country data

Iran 2008 2009 2010 2011 2012f 2013f 2014f
Nominal GDP ($bn) 147.4 106 119.9 161 173.4 173.4 175.2
GDP per capita ($) 42,824 30,410 33,481 43,723 45,824 44,585 43,824
Real GDP growth (annual change, %) 2.5 -7.1 -2.4 6.3 5.1 1.1 3.1
Government revenue (% of GDP) 60.2 69 68.4 67.6* 70.3 70.3 68.5
Government total expenditure (% of GDP) 40.4 42.2 43.1 38.5* 39.6 43.3 46.3
Total government debt (gross, % of GDP) 9.8 11.3 10.9 8.1* 7.3 7.1 6.9
Current account balance (% of GDP) 40.9 26.7 31.9 44 45 40.8 37.6
Value of oil imports 0 0 0 0 0 0 0
Value of oil exports 82.6 48.9 61.8 96.7* 105.9 100.7 96.9
Inflation (%) 9 1.2 4 4.7 2.9 3.3 3.8
Click to see full economic data (2005 - 2018 forecast)
Source: International Monetary Fund, World Economic Outlook Database; Last updated: June 2013; *=Estimate

Doing business in...

Public Authority for Housing Welfare, Kuwait Subscription

17 June 2013, 5:55 GMT

Kuwait’s Public Authority for Housing Welfare (PAHW) is playing an increasingly important role in facilitating housing and public-private partnership projects

MEED comment

Markets and bonds

Bonds market gains maturity

10 April 2014, 15:39 GMT

An increasingly diverse base of issuers, driven by strong economic growth is helping to deepen the region’s capital markets

Gasification at Jizan

Higher bid prices return to the GCC

10 April 2014, 15:24 GMT

European firms have been winning work again for a couple of years now, beating South Korean competition

Kuwait: Key projects must not be derailed by politics

Optimism grows as deals progress in Kuwait

13 March 2014, 13:54 GMT | By

As key schemes move ahead, the government must ensure politics does not derail plans again

Guarded optimism

Kuwait ushers in new dawn

20 February 2014, 16:24 GMT

Projects market has under-performed compared with Kuwait’s neighbours. Government has a rare opportunity to move forward with its plans

Awards

Local contractors dominate in 2013 Subscription

16 January 2014, 15:46 GMT

The small size and nature of most contracts awarded last year saw local firms capitalise

Kuwait

Kuwait prepares for busy 2014 Subscription

28 November 2013, 14:41 GMT

Next year could mark a turnaround in Kuwait’s projects market, following years of under-investment

More MEED commentary

Special reports

GCC real estate

Real Estate: GCC property markets stabilising

18 March 2014, 14:02 GMT

There is an uptick in demand for residential and commercial property across the region, with just one or two exceptions

Kuwait

Kuwait: Optimism rises on projects progress

12 March 2014, 12:47 GMT

The past three months have seen some important progress made in Kuwait

GCC construction

Construction: Continuing GCC projects growth into 2014 Subscription

16 January 2014, 13:52 GMT

After such a successful 2013, beating that target will be a major challenge for the GCC projects market in the year ahead

SR Cover Riding the Boom

Construction: Middle East rides the new projects boom Subscription

21 November 2013, 6:29 GMT

Transport awards, particularly metro schemes, are driving a construction rebound across the region

More Kuwait special reports

Kuwait trends

Recovery

The growing appetite for bonds Subscription

10 April 2014, 13:46 GMT | By

Increased corporate activity spurred by strong economic growth is helping to expand the market

Serco is the service provider for the Dubai Metro

Bringing the region's services to life Subscription

10 April 2014, 13:21 GMT | By

Facilities management firm Serco works quietly in the background, providing major services across various sectors in the region, but its CEO is looking to extend its reach

GCC and Iraq energy awards

Gulf oil and gas spending hits long-term high in first quarter Subscription

2 April 2014, 8:53 GMT | By

More than $25bn-worth of contracts awarded as three-month period eclipses total for 2013

Middle East contracts awarded: February 2014 Subscription

20 March 2014, 12:58 GMT

Over $17bn of contracts awarded in February in the Middle East

Kuwait

Kuwait’s year of progress Subscription

20 February 2014, 14:45 GMT | By

A new parliament has meant several high-profile contracts have now been awarded in the country

Contract awards

Middle East contracts awarded: January 2014 Subscription

16 February 2014, 11:13 GMT

Over $17bn awarded in January in the Middle East

Opec oil production 2012-13

Opec output shrunk in 2013 on Iran and Libya production cuts Subscription

29 January 2014, 8:04 GMT | By

Non-Opec output replaced Opec supply as exporters brace for the potential return of Iran

Kuwait

Kuwait set to be biggest GCC oil and gas spender in 2014 Subscription

14 January 2014, 13:07 GMT | By

Large contracts on refineries and heavy oil should see Kuwait overtake the UAE this year

Middle East contract awards December 2013

Middle East contracts awarded: December 2013 Subscription

8 January 2014, 8:16 GMT

Over $7bn awarded in December in the Middle East

Steel demand

Steel sector to see rising demand Subscription

31 December 2013, 8:47 GMT | By

Higher public spending is set to spur growth in demand, but challenges threaten the industry’s potential

Filter Kuwait analysis by sector

Market presentations

Middle East Outlook 2013

A region in transition: Middle East outlook 2013 and beyond Subscription

18 August 2013, 7:46 GMT

Insight and analysis on the economic and projects outlook for the Middle East

Project Finance

Webinar: Middle East project finance outlook Subscription

17 June 2013, 11:40 GMT

Market constraints to continue, with deals flowing to most stable markets in the region

After the Uprisings webinar

After the Uprisings: The outlook for business in the Middle East in 2013 and beyond Subscription

4 March 2013, 5:52 GMT

A webinar on the region’s business environment, providing current data and exclusive expert analysis drawn from MEED’s team of experts

Wastewater

Webinar: Project opportunities in GCC wastewater Subscription

15 May 2012, 11:24 GMT

Join MEED for an exclusive online seminar looking at the Gulf wastewater sector

Kuwait

Kuwaiti projects market 2012 Subscription

6 March 2012, 8:32 GMT

MEED’s online seminar on the Kuwiat projects market, providing a comprehensive forecast and review of opportunities in the country

Barzan: The gas project raised $5.7bn

Rebuilding the Middle East: Prospects for the projects market 2012 Subscription

6 February 2012, 5:40 GMT

MEED’s webinar looks at expected growth in the Middle East and North Africa

Arab uprising: Facebook gave power to protesters

The impact of the Arab uprisings on business growth Subscription

27 July 2011, 12:50 GMT

MEED’s webinar is a mid-year review that assesses the consequences of protests in the region on project plans

Project awards

Kuwait signs $12bn-worth of contracts on Clean Fuels Project Subscription

15 April 2014, 11:04 GMT | By

South Korean firms win up to $7bn of work out of the total $12bn on the scheme

Shell and BP to supply gas to Kuwait Subscription

14 April 2014, 11:37 GMT | By

Energy majors Shell Group and BP will supply 2.5 million tonnes a year of liquefied gas to Kuwait

Drake & Scull wins new contracts in Kuwait Subscription

13 April 2014, 10:31 GMT | By

Projects include a cultural centre and healthcare facility

Kuwait awards contracts for road project Subscription

13 April 2014, 10:26 GMT | By

Consolidated Contractors Company and Mushrif Trading win Kuwait road deals

Foster Wheeler signs Kuwait gas import design deal Subscription

5 March 2014, 6:52 GMT | By

Designs for Al-Zour import facility to be completed in October

Kuwait approves power lines contract Subscription

4 March 2014, 10:49 GMT | By

New lines to boost transmission from Subiya power plant

European firm wins Kuwait substation contracts Subscription

2 March 2014, 7:00 GMT | By

Work will involve building new substations and upgrading pre-exisitng facilities

Kuwait approves bids for Clean Fuels Project packages Subscription

11 February 2014, 10:35 GMT | By

Almost $12bn-worth of contracts approved for refinery upgrades

Westerngeco wins Kuwait seismic survey deal Subscription

4 February 2014, 5:56 GMT | By

$225m contractor for 3D seismic surveys in the Divided Zone

Saudi firm wins $275m Kuwait oil services deal Subscription

23 January 2014, 7:05 GMT | By

Saudi Arabia’s Al-Khorayef to supply and install electrical submersible pumps in Kuwait

Projects trends

Gulf projects index

Iraq and UAE lead Gulf index growth Subscription

17 April 2014, 11:01 GMT

Kuwait, Qatar and Iran record largest declines in value

Gulf Projects Index 8 April 2014

UAE leads growth in Gulf index Subscription

10 April 2014, 11:06 GMT

Iraq records largest decline in value of projects market in the region

Gulf projects index

UAE records strong growth Subscription

3 April 2014, 9:31 GMT

Oman sees second-largest increase while Iran continues poor performance

More Gulf Projects index

Top 10 projects

Rank Project Name Sector Contract value ($m)
1 Subiya Causeway Transport 2,600
2 Oil and Gas Pipelines from Mina Al Ahmadi Refinery to Kuwait Power Plants Gas 1,802
3 Al Zour South Power Plant Upgrade Power 1,200
4 Mubarak Al-Kabeer Seaport Project: Phase 1: Package 2 Transport 1,162
5 Jaber Ahmed al-Jabber al-Sabah Hospital Construction 1,000
6 Al Zour North IWPP: Phase 1: Power Plant Power 970
7 Al-Jahra Road Upgrade Transport 965
8 Booster Station 171 Gas 900
9 Mina Al Ahmadi Refinery: Gas Fractionation Train 4 Gas 886
10 Jamal Abdul Nasser Development Project Transport 881
Click through to the full data table on Kuwait's biggest projects in construction
Click through to MEED's Q4 2013 Top 100 Projects report
Source: MEED Projects; Data compiled: January 2014; All projects are in execution

Companies

Agility

Agility Subscription

Kuwait based, Agility is a global logistics leader with two main lines of business: commercial logistics and a portfolio of logistics-related businesses.

Ahli United Bank

Ahli United Bank (Kuwait) Subscription

Ahli United Bank Kuwait formerly The Bank of Kuwait and Middle East, was converted to an Islamic Bank under the present corporate identity in April 2010  

See all Kuwait company profiles

People

Mohammad Menwer al-Mutairi

11 March 2014, 10:27 GMT

Mohammad Menwer al-Mutairi is founder and chairman of Consultative Group in Kuwait

Lee Jae-Sung Subscription

19 January 2014, 13:41 GMT

Lee Jae-Sung is chairman, Hyundai Heavy Industries

Suhaila Marafi Subscription

14 January 2014, 6:55 GMT

Suhaila Marafi is director of studies & research, Ministry of Electricity & Water, Kuwait

Mustafa al-Shimali Subscription

7 January 2014, 12:42 GMT

Mustafa al-Shimali is former oil minister, Kuwait

Sheikh Sabah al-Khaled al-Hamad al-Sabah Subscription

23 September 2013, 15:08 GMT

Sheikh Sabah al-Khaled al-Hamad al-Sabah is first deputy prime minister and foreign affairs minister, Kuwait

Mustafa Jassim al-Shamali Subscription

23 September 2013, 15:08 GMT

Mustafa Jassim al-Shamali is Kuwait’s oil minister

See all Kuwait biographies

Tenders

Kuwait: Heat exchangers Subscription

17 April 2014, 9:20 GMT | By

Supply of medium-tension heat exchangers

Filter Kuwait tenders by sector

Newsletter Sign-up

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MEED events

Kuwait Projects 2014

Kuwait Projects 2014

6 May 2013, 8:06 GMT | Updated: 8 April 2014, 11:54 GMT

Exploring the latest project developments in Kuwait’s mega projects sector

More MEED events

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