policies are active
Member of:
ABEDA, AfDB, AFESD, AL, AMF, BDEAC, CAEU, ESCWA, FAO, G-77, GATT, GCC, IAEA,
IBRD, ICAO, IDA, IDB, IFAD, IFC, ILO, IMF, IMO, INMARSAT, INTELSAT,
INTERPOL, IOC, ISO (correspondent), ITU, LORCS, NAM, OAPEC, OIC, OPEC, UN,
UNCTAD, UNESCO, UNIDO, UPU, WFTU, WHO, WMO, WTO
Diplomatic representation:
Ambassador Shaykh Sa`ud Nasir al-SABAH; Chancery at 2940 Tilden Street NW,
Washington, DC 20008; telephone (202) 966-0702
US:
Ambassador Edward (Skip) GNEHM, Jr.; Embassy at Bneid al-Gar (opposite the
Kuwait International Hotel), Kuwait City (mailing address is P.O. Box 77
SAFAT, 13001 SAFAT, Kuwait; APO AE 09880); telephone [965] 242-4151 through
4159; FAX [956] 244-2855

:Kuwait Government

Flag:
three equal horizontal bands of green (top), white, and red with a black
trapezoid based on the hoist side

:Kuwait Economy

Overview:
Up to the invasion by Iraq in August 1990, the oil sector had dominated the
economy. Kuwait has the third-largest oil reserves in the world after Saudi
Arabia and Iraq. Earnings from hydrocarbons have generated over 90% of both
export and government revenues and contributed about 40% to GDP. Most of the
nonoil sector has traditionally been dependent upon oil-derived government
revenues. Iraq's destruction of Kuwait's oil industry during the Gulf war
has devastated the economy. Iraq destroyed or damaged more than 80% of
Kuwait's 950 operating oil wells, as well as sabotaged key surface
facilities. Firefighters brought all of the roughly 750 oil well fires and
blowouts under control by November 1991. By yearend, production had been
brought back to 400,000 barrels per day; it could take two to three years to
restore Kuwait's oil production to its prewar level of about 2.0 million
barrels per day. Meanwhile, population had been greatly reduced because of
the war, from 2.1 million to 1.4 million.
GDP:
exchange rate conversion - $8.75 billion, per capita $6,200; real growth
rate -50% (1991 est.)
Inflation rate (consumer prices):
NA
Unemployment rate:
NA
Budget:
revenues $7.1 billion; expenditures $10.5 billion, including capital
expenditures of $3.1 billion (FY88)
Exports:
$11.4 billion (f.o.b., 1989)
commodities:
oil 90%
partners:
Japan 19%, Netherlands 9%, US 8%, Pakistan 6%
Imports:
$6.6 billion (f.o.b., 1989)