ICRM, IDA, IDB, IFAD, IFC, IFRCS, IHO (pending member), ILO, IMF,
IMO, Inmarsat, Intelsat, Interpol, IOC, ISO (correspondent), ITU,
NAM, OAPEC, OIC, OPCW, OPEC, UN, UNCTAD, UNESCO, UNIDO, UPU, WFTU,
WHO, WMO, WToO, WTrO

Diplomatic representation in the US:
chief of mission: Ambassador MUHAMMAD al-Sabah al-Salim Al SABAH
chancery: 2940 Tilden Street NW, Washington, DC 20008

Diplomatic representation from the US:
chief of mission: Ambassador James A. LAROCCO
embassy: Bayan, near the Bayan palace, Kuwait City
mailing address: P.O. Box 77 Safat, 13001 Safat, Kuwait; Unit 69000,
APO AE 09880-9000

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

Economy

Economy--overview: Kuwait is a small and relatively open economy
with proved crude oil reserves of about 94 billion barrels--10% of
world reserves. Petroleum accounts for nearly half of GDP, 90% of
export revenues, and 75% of government income. Kuwait lacks water
and has practically no arable land, thus preventing development of
agriculture. With the exception of fish, it depends almost wholly on
food imports. About 75% of potable water must be distilled or
imported. The economy improved moderately in 1994-97, but in 1998
suffered from the large decline in world oil prices. The Kuwaiti
cabinet approved a reform package in January 1999, including
reducing subsidies and increasing taxes on large consumer goods.
Nevertheless, Kuwait anticipates continuing budget deficits for the
next few years. Kuwait is attracting foreign oil companies to
develop fields in the northern part of the country.

GDP: purchasing power parity--$43.7 billion (1998 est.)

GDP--real growth rate: -5% (1998 est.)

GDP--per capita: purchasing power parity?$22,700 (1998 est.)

GDP--composition by sector:
agriculture: 0%
industry: 55%
services: 45% (1996)

Population below poverty line: NA%

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

Inflation rate (consumer prices): 1% (1997 est.)

Labor force: 1.1 million (1996 est.)
note: 68% of the population in the 15-64 age group is non-national
(July 1998 est.)

Labor force--by occupation: government and social services 50%,
services 40%, industry and agriculture 10% (1996 est.)

Unemployment rate: 1.8% (official 1996 est.)

Budget:
revenues: $8.1