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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

Kuwait
Kuwait 2009 2010 2011 2012 2013 2014 2015f
Nominal GDP ($bn) 106.0 115.4 154.1 174.1 175.8 179.3* 181.0
GDP per capita ($) 30,410 32,223 41,853 45,997 45,189 44,850* 44,032
Real GDP growth (annual change, %) -7.1 -2.4 10.2 8.3 -0.4 1.4* 1.8
Government revenue (% of GDP) 69.0 70.2 73.8 74.7 73.6 73.6* 73.0
Government total expenditure (% of GDP) 42.2 44.8 39.1 38.7 41.4 44.8* 46.7
General government debt (gross, % of GDP) 11.0 11.3 8.5 6.8 6.2 5.9* 5.7
Current account balance (% of GDP) 26.7 32.0 43.6 45.5 40.5 40.8* 38.6
Inflation (%) 4.6 3.6 3.7 3.8 3.9 4.0* 4.1
Population (millions) 3.5 3.6 3.7 3.8 3.9 4.0* 4.1
Unemployment (%) 1.6 2.1 2.1 2.1 2.1 2.1* 2.1
Click to see full economic data (2005 - 2019 forecast)
Source: International Monetary Fund, World Economic Outlook Database;
Last updated: February 2015; *=Estimate

Doing business in...

Doing Business in Kuwait

MEED’s guide to doing business in Kuwait

4 November 2012

For many business people, Kuwait is one of the region’s sleeping giants

Public Authority for Housing Welfare, Kuwait Subscription

17 June 2013

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

Banks and services in Kuwait Subscription

4 November 2012

Bank and services listings for Kuwait

Information providers in Kuwait Subscription

4 November 2012

A round up of media that reports on Kuwait

Ministries and state bodies in Kuwait Subscription

31 October 2012

Contact details for Kuwait ministries and organisations

Kuwait airport

Directorate General of Civil Aviation, Kuwait Subscription

31 October 2012

The Directorate General of Civil Aviation (DGCA) is in charge of the regulation of Kuwaiti airspace and the management and maintenance of Kuwait International Airport, the emirate’s single civil international hub

Kuwait University

Kuwait University Subscription

31 October 2012

In 2011, Kuwait University became the country’s biggest single client for construction services, awarding $1bn in construction deals. By September 2012, the university had already awarded five contracts worth $733m since January. According to regional projects tracker MEED Projects, a further $1.4bn of construction contracts are expected in 2013.

Kuwait Petroleum Corporation Subscription

29 October 2012

In a country that is dependent on oil production and export, Kuwait Petroleum Corporation (KPC) is a major cog in the economic machinery. Formed in 1980, it acts as a holding company for all Kuwait’s major oil, gas, and petrochemical assets, the most important of which are state oil and gas firm Kuwait Oil Company (KOC), refiner Kuwait National Petroleum Company ...

Oversee: The Partnerships Technical Bureau aims to ensure new projects are viable and legally watertight

Partnerships Technical Bureau, Kuwait Subscription

29 October 2012

In 2008, Kuwait’s government established the Partnerships Technical Bureau (PTB) to oversee a number of public-private projects

Healthcare in Kuwait Subscription

29 October 2012

The standard of healthcare, particularly private care, is relatively high in Kuwait, but the system is under pressure

Kuwait City: The emirate was less affected by the regional real estate boom than other Gulf countries

Property in Kuwait Subscription

28 October 2012

Kuwait’s property sector did not suffer the dramatic price falls seen in other GCC markets following the onset of the 2008 financial crisis

Private education: Kuwait's leading schools often have long waiting lists

Education in Kuwait Subscription

28 October 2012

The Gulf states typically offer a good standard of private education for the children of expatriates, and Kuwait is no exception

State carrier: Currently being privatised, Kuwait Airways serves about 40 destinations

Transport in Kuwait Subscription

28 October 2012

The best way to get around Kuwait City and the wider emirate is by car, either a rental, lease or taxi

Public-private partnerships in Kuwait Subscription

23 October 2012

Joss Dare of Ashurst Middle East explains how the private sector can work with the government

Employment law in Kuwait Subscription

23 October 2012

Kashif Syed and Mary Ann Sharp of law firm SNR Denton outline employers’ rights and obligations

Sharia in Kuwait Subscription

23 October 2012

Sharia is a form of law derived from Islamic principles

Setting up a company in Kuwait Subscription

23 October 2012

Sonia Salah, Ramy Shabana and Alex Saleh from law firm Al Tamimi & Company outline the legal issues foreigners face when establishing a business in Kuwait

Kuwait City

Ministry of Public Works, Kuwait Subscription

22 October 2012

Kuwait’s Ministry of Public Works (MPW) is in charge of the construction and maintenance of public buildings and key infrastructure, from roads and bridges to hospitals and sewage networks

Taxes in Kuwait Subscription

17 October 2012

Mary Ann Sharp of SNR Denton’s Kuwait office answers key questions about the Gulf state’s tax regime

Ministry of Health in Kuwait Subscription

17 October 2012

Kuwait is faced with a growing population and a lack of hospital space. The situation has been complicated by the rising prevalence of chronic diseases among the local population. Obesity has become a significant problem in the emirate, with 88 per cent of Kuwaitis classed as medically overweight, and a third of the population suffering from obesity. Currently, the state spends upwards of $1bn a year on sending citizens abroad for treatment, a bill that is likely to increase alongside ...

Ministry of Electricity and Water in Kuwait Subscription

17 October 2012

Kuwait has long struggled to meet rising domestic demand for electricity

Kuwait Ports Authority Subscription

16 October 2012

Kuwait has long planned to improve its status as a logistics and shipment hub

Burgan field: Sheikh Ahmed al-Jaber al-Sabah oversees Kuwait's first crude oil shipment on 30 June 1946

History of Kuwait Subscription

16 October 2012

The origins of Kuwait lie in the early 18th century, when clans of the Anaiza tribe migrated north from Qatar and the centre of the Arabian peninsula and came to populate the region

People and Culture in Kuwait Subscription

16 October 2012

Arabic is the official language of Kuwait, although English is commonly spoken

Map of Kuwait

Basic information on Kuwait Subscription

15 October 2012

The total area of Kuwait is 17,820 square kilometres

Kuwait trends

Estimated Hydrocarbons production of top three producers

US remained world’s top oil and gas producer in 2014 Subscription

9 April 2015 | By

America is also top petroleum liquids producer after overtaking Saudi Arabia in 2013

Grand Mosque

Kuwait Small Project of the Year Subscription

24 March 2015

Structural renovation of the Grand Mosque

Subiya

Hyder Consulting Transport Project of the Year - Kuwait Subscription

24 March 2015

Construction and maintenance of roads, bridges, storm water drainage, sewerage and other services for Subiyah Highway package 3

Petrochemicals EPC contract awards by country

Kuwait ripe for expansion Subscription

19 March 2015 | By

Progress on refinery megaprojects means the country can go ahead with plans to integrate petrochemicals facilities

Gulf projects index

Middle East contracts awarded: February 2015 Subscription

1 March 2015

Over $8bn of contracts awarded in February in the Middle East

Kuwait simplifies investment laws

Kuwait simplifies investment laws Subscription

24 February 2015 | By

New, transparent executive regulations and fast decision-making are hoped to facilitate an increase in foreign direct investment

The overhaul of the refining sector is critical to Kuwait meeting its 2020 downstream targets

Refining sector to get overhaul Subscription

24 February 2015 | By

The newfound momentum in downstream contract awards is due to continue in 2015, but falling oil prices and land disputes could yet derail plans

Kuwait nominal GDP

Kuwait approves investment plan Subscription

24 February 2015 | By

Kuwait has approved a new five-year development plan that is similar in ambition to its predecessor despite the plunge in oil prices. But this time it must deliver

Kuwait has yet to find a solution for its stateless Bedouins

Dealing with the stateless population Subscription

24 February 2015 | By

Kuwait has yet to find a solution for its stateless Bedouins, who still lack access to healthcare, education and travel

Filter Kuwait analysis by sector

MEED comment

Refinery

Kuwait’s Al-Zour refinery negotiations at a critical juncture Subscription

31 March 2015 | By Wil Crisp

KNPC to decide on possible re-tender

Refinery

Kuwait's Al-Zour refinery in danger of stalling Subscription

11 March 2015 | By

Any new delays to the refinery project must be avoided

The majority of the labourers working on the GCC’s construction sites come from India and other subcontinent countries

GCC contractors consider bumper Indian budget Subscription

5 March 2015 | By

Competition may subside, but labour costs could increase

Kuwait needs to move fast if its plans are to be taken seriously

Second time lucky for Kuwait Subscription

24 February 2015 | By

New five-year development plan includes many old projects

Construction

New vision for GCC construction workforce Subscription

22 February 2015 | By Sachin Kerur

Development of a regional policy for hiring workers is under discussion

Power

Kuwait must deliver on PPP programme Subscription

10 February 2015 | By

Little progress made in the six years since the country established a public-private partnership body to develop major infrastructure projects

Saudi Aramco's Khurais oil field in Saudi Arabia

Masters of the new world energy order Subscription

18 January 2015 | By

The GCC, the worlds’ biggest energy exporter, and the US, the world’s largest energy consumer are emerging as leaders in a new world energy order

Saudi Aramco's Khurais oil field in Saudi Arabia

Why GCC producers are happy to see oil fall Subscription

18 December 2014 | By

The GCC’s oil producers will be the biggest winners from the 2014 oil price crash

More MEED commentary

Special reports

Optimism grows in Kuwait projects market

Kuwait: Optimism grows in projects market

23 February 2015

Kuwait’s approval of a new spending plan and recent amendments to investment laws will mean projects will continue to move ahead

Opec secretary-general Abdullah al-Badri

Opec sets the tone for 2015

15 December 2014 | By

Regional producers are not about to cut oil production and the assumptions that have underpinned forecasting in recent years have to be revisited

Kuwait

Kuwait stock exchange in need of reforms Subscription

15 October 2014

The bourse needs new regulations that will make it more appealing to investors

Kuwait City

Kuwait: Projects sector builds on recent progress Subscription

12 June 2014

Kuwait has sustained the momentum of its projects sectors build up from progress made last year, but how long will it last?

More Kuwait special reports

Market presentations

Middle East Outlook 2013

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

18 August 2013

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

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

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

Top 10 projects

Rank Project Name Sector Contract value ($m)
1 Clean Fuels Project 2020: MAA Package Oil 4,900
2 Clean Fuels Project 2020: MAB (Package 1) Oil 3,700
3 Clean Fuels Project 2020: MAB (Package 2) Oil 3,400
4 Sheikh Jaber Al Ahmed Al Sabah Causeway (Subiya Causeway) Transport 2,600
5 Al Zour North IWPP: Phase 1: Power Plant Power 1,363
6 Jaber Ahmed al-Jabber al-Sabah Hospital Construction 1,087
7 Al-Jahra Road Upgrade Transport 956
8 EW Treatment and Injection Plant (NK) Oil 946
9 Eight Hospitals Expansion: Al Farwaniya Hospital Expansion Construction 941
10 Booster Station 171 Gas 900
Click through to the full data table on Kuwait's biggest projects in construction
Click through to MEED's Q4 2014 Top 100 Projects report
Source: MEED Projects; Data compiled: April 2015; All projects are in execution

Project awards

Oil refinery

Mina al-Ahmadi gas contract to be awarded Subscription

31 March 2015 | By

Kuwait decides on refinery’s fifth gas fractionation train

Oil refinery

Kuwait signs energy deals with South Korea Subscription

3 March 2015 | By

Officials discuss increased oil and gas cooperation

Construction

Kuwait University awards contract Subscription

26 February 2015 | By

Kuwaiti authorities award construction contract to Indian firm for college buildings

Oil pipelines

Kuwait awards a $30.5m contract Subscription

3 February 2015 | By

Contract to Mushrif Trading comes one week after winning a $12.2m Clean Fuels Project contract

Kuwait oil company contract awards 2014

Kuwait Oil Company awards $8.6bn in 2014 Subscription

2 February 2015 | By

Contract awards see a 95 per cent increase

Kuwait awards $4.3bn deal to Petrofac

Kuwait awards $4.3bn deal to Petrofac Subscription

11 January 2015 | By

UK firm wins Lower Fars heavy oil development project contract

Kuwait awards Wafra substation deal

Kuwait approves Wafra substation deal Subscription

6 January 2015 | By

Siemens Electronics & Electrical Services Company submitted low bid

Avenues Mall in Kuwait

Al-Ahmadiah wins $391m contract for Kuwait mall project Subscription

27 November 2014 | By

Local contractor will build fourth phase of shopping development

Projects trends

Gulf projects index

Gulf index sees biggest fall in months Subscription

21 April 2015

Only three countries post expansions in value

Gulf projects index

Bahrain makes biggest gains Subscription

14 April 2015

Iran and Qatar also expand, but fail to lift Gulf Projects Index

Gulf projects index

Mass declines on Gulf index Subscription

6 April 2015

Iran leads slump in region, with Bahrain and Iraq only countries to record gains

More Gulf Projects index

All 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.

Alghanim International Subscription

Alghanim International are a civil and electromechanical engineering and contracting company active across power projects

See all Kuwait company profiles

People

Ayad al-Homoud Subscription

1 April 2015

Ayad al-Homoud is Chairman of the Kuwait Society of Engineers

Bob Hope Subscription

25 January 2015

Bob Hope is CEO of SSH

Mohammad Ghazi al-Mutairi Subscription

22 January 2015

Mohammad Ghazi al-Mutairi is CEO, Kuwait National Petroleum Company

Rashid al-Nafisi Subscription

22 September 2014

Rashid al-Nafisi is chairman of the Al-Mazaya Holding Company

Salwa Nabil Malhas Subscription

16 September 2014

Salwa Nabil Malhas is chief business development and marketing officer at Al-Mazaya Holding

Ibrahim Abdul Rahman al-Saqabi Subscription

16 September 2014

Ibrahim Abdul Rahman al-Saqabi is CEO at Al-Mazaya Holding Company

See all Kuwait biographies


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MEED events

Kuwait Projects 2014

Kuwait Projects 2015

15 June 2014

23 - 25 November 2015 | Exploring project opportunities in the Kuwait Market

More MEED events

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