d on the Arab revolt flag of World War I

Economy Kuwait

Economy - overview:
Kuwait is a small, rich, relatively open economy with proved crude
oil reserves of about 98 billion barrels - 10% of world reserves.
Petroleum accounts for nearly half of GDP, 95% of export revenues,
and 80% of government income. Kuwait's climate limits agricultural
development. Consequently, with the exception of fish, it depends
almost wholly on food imports. About 75% of potable water must be
distilled or imported. Kuwait continues its discussions with foreign
oil companies to develop fields in the northern part of the country.

GDP:
purchasing power parity - $41.46 billion (2003 est.)

GDP - real growth rate:
4.6% (2003 est.)

GDP - per capita:
purchasing power parity - $19,000 (2003 est.)

GDP - composition by sector:
agriculture: 0.4%
industry: 59.5%
services: 40% (2003)

Investment (gross fixed):
8% of GDP (2003)

Population below poverty line:
NA

Household income or consumption by percentage share:
lowest 10%: NA
highest 10%: NA

Inflation rate (consumer prices):
1.2% (2003 est.)

Labor force:
1.38 million
note: non-Kuwaitis represent about 80% of the labor force. (2003
est.)

Labor force - by occupation:
agriculture NA, industries NA, services NA

Unemployment rate:
2.1% (2003 est.)

Budget:
revenues: $29.41 billion
expenditures: $17.57 billion, including capital expenditures of NA
(2003)

Public debt:
29.5% of GDP (2003)

Agriculture - products:
practically no crops; fish

Industries:
petroleum, petrochemicals, desalination, food processing,
construction materials

Industrial production growth rate:
-5% (2002 est.)

Electricity - production:
31.49 billion kWh (2001)

Electricity - consumption:
29.29 billion kWh (2001)

Electricity - exports:
0 kWh (2001)

Electricity - imports:
0 kWh (2001)

Oil - production:
2.27 million bbl/day (2003 est.)

Oil - consumption:
293,000 bbl/day (2003 est.)

Oil - exports:
1.97 million bbl/day (2003)

Oil - imports:
NA (2003)

Oil - proved reserves:
97.68 billion bbl (1 January 2002)

Natural gas - production:
8.7 billion cu m (2002 est.)

Natural gas - consumption:
8.7 billion cu m (2002 est.)

Natural gas - exports:
0 cu m (2002 est.)

Natural gas - imports:
0 cu m (2002 est.)

Natural gas - proved reserves:
1.548 trillion cu m (1 Janu