[ Nominal GDP in billions of USD ]
Year -
$160.23 billions
Kuwait GDP expanded from 1962 to 2024, increasing from $1.83 billion to $160.23 billion.The compound annual growth rate (CAGR) averaged 7.48% over the period. The economy recorded its peak level in 2022 and its lowest level in 1962. Growth volatility remained high. The maximum drawdown reached 61.56%, indicating the largest cyclical decline from peak levels. The country experienced 11 recession episode(s) during the observed period.
| Metric | Nominal GDP (Current USD) | GDP (PPP, Int$) |
|---|---|---|
| Latest Year | 2024 | 2024 |
| Latest GDP | $ 160.23 Billions | $ 256.83 Int Billions |
| Growth (YoY) | -3.118% | -0.204% |
| Net Change vs Previous Year | $ -5.16 Billion | $ -0.53 Int Billion |
| % of World GDP | 0.14% | 0.13% |
| Meaning | Nominal GDP (Current USD, exchange-rate based) | GDP (PPP, cost-of-living adjusted) |
| Nominal | PPP | |||||
|---|---|---|---|---|---|---|
| Year | Bil $ | Net Chg | % Chg | Int Bil $ | Net Chg | % Chg |
| 1960 | - | - | - | - | - | - |
| 1961 | - | - | - | - | - | - |
| 1962 | 1.83 | - | - | - | - | - |
| 1963 | 1.9 | 0.07 | 3.982 % | - | - | - |
| 1964 | 2.07 | 0.17 | 8.984 % | - | - | - |
| 1965 | 2.1 | 0.03 | 1.232 % | - | - | - |
| 1966 | 2.39 | 0.29 | 14.019 % | - | - | - |
| 1967 | 2.44 | 0.05 | 2.108 % | - | - | - |
| 1968 | 2.66 | 0.22 | 9.06 % | - | - | - |
| 1969 | 2.77 | 0.11 | 3.996 % | - | - | - |
| 1970 | 2.87 | 0.1 | 3.771 % | - | - | - |
| 1971 | 3.88 | 1.01 | 35.034 % | - | - | - |
| 1972 | 4.45 | 0.57 | 14.693 % | - | - | - |
| 1973 | 5.41 | 0.96 | 21.531 % | - | - | - |
| 1974 | 13.01 | 7.6 | 140.477 % | - | - | - |
| 1975 | 12.02 | -0.98 | -7.566 % | - | - | - |
| 1976 | 13.13 | 1.11 | 9.228 % | - | - | - |
| 1977 | 14.14 | 1.01 | 7.654 % | - | - | - |
| 1978 | 15.5 | 1.37 | 9.663 % | - | - | - |
| 1979 | 24.75 | 9.25 | 59.635 % | - | - | - |
| 1980 | 28.64 | 3.89 | 15.717 % | - | - | - |
| 1981 | 25.06 | -3.58 | -12.503 % | - | - | - |
| 1982 | 21.58 | -3.48 | -13.891 % | - | - | - |
| 1983 | 20.87 | -0.71 | -3.272 % | - | - | - |
| 1984 | 21.7 | 0.83 | 3.972 % | - | - | - |
| 1985 | 21.45 | -0.25 | -1.171 % | - | - | - |
| 1986 | 17.9 | -3.54 | -16.516 % | - | - | - |
| 1987 | 22.37 | 4.46 | 24.937 % | - | - | - |
| 1988 | 20.69 | -1.68 | -7.503 % | - | - | - |
| 1989 | 24.31 | 3.62 | 17.513 % | - | - | - |
| 1990 | 18.43 | -5.89 | -24.209 % | 51.83 | - | - |
| 1991 | 11.01 | -7.42 | -40.253 % | 31.61 | -20.22 | -39.013 % |
| 1992 | 19.86 | 8.85 | 80.368 % | 59.1 | 27.49 | 86.975 % |
| 1993 | 23.94 | 4.08 | 20.56 % | 81.07 | 21.97 | 37.166 % |
| 1994 | 24.85 | 0.91 | 3.789 % | 89.78 | 8.72 | 10.751 % |
| 1995 | 27.19 | 2.34 | 9.411 % | 96.12 | 6.34 | 7.057 % |
| 1996 | 31.49 | 4.31 | 15.836 % | 98.47 | 2.35 | 2.447 % |
| 1997 | 30.35 | -1.14 | -3.627 % | 102.65 | 4.18 | 4.241 % |
| 1998 | 25.94 | -4.41 | -14.519 % | 107.6 | 4.96 | 4.827 % |
| 1999 | 30.12 | 4.18 | 16.107 % | 107.17 | -0.43 | -0.4 % |
| 2000 | 37.72 | 7.6 | 25.218 % | 114.75 | 7.57 | 7.066 % |
| 2001 | 34.89 | -2.83 | -7.501 % | 117.58 | 2.83 | 2.47 % |
| 2002 | 38.14 | 3.25 | 9.304 % | 123.01 | 5.43 | 4.616 % |
| 2003 | 47.87 | 9.74 | 25.537 % | 147.17 | 24.16 | 19.642 % |
| 2004 | 59.44 | 11.56 | 24.156 % | 166.6 | 19.43 | 13.205 % |
| 2005 | 80.8 | 21.36 | 35.935 % | 190.06 | 23.45 | 14.077 % |
| 2006 | 101.56 | 20.76 | 25.691 % | 210.64 | 20.58 | 10.831 % |
| 2007 | 114.63 | 13.08 | 12.877 % | 229.31 | 18.67 | 8.863 % |
| 2008 | 147.38 | 32.75 | 28.566 % | 239.52 | 10.21 | 4.454 % |
| 2009 | 105.97 | -41.41 | -28.098 % | 223.95 | -15.58 | -6.503 % |
| 2010 | 115.42 | 9.45 | 8.915 % | 221.3 | -2.65 | -1.184 % |
| 2011 | 154.04 | 38.62 | 33.464 % | 247.61 | 26.31 | 11.89 % |
| 2012 | 174.05 | 20.01 | 12.99 % | 273.94 | 26.33 | 10.635 % |
| 2013 | 174.17 | 0.12 | 0.069 % | 269.45 | -4.5 | -1.641 % |
| 2014 | 162.65 | -11.52 | -6.613 % | 250.51 | -18.93 | -7.027 % |
| 2015 | 114.59 | -48.06 | -29.551 % | 173.58 | -76.93 | -30.71 % |
| 2016 | 109.41 | -5.18 | -4.52 % | 167.62 | -5.96 | -3.434 % |
| 2017 | 120.69 | 11.28 | 10.311 % | 193.47 | 25.85 | 15.422 % |
| 2018 | 138.65 | 17.96 | 14.88 % | 222.1 | 28.63 | 14.799 % |
| 2019 | 140.86 | 2.21 | 1.594 % | 225.24 | 3.14 | 1.412 % |
| 2020 | 111.05 | -29.81 | -21.164 % | 182.44 | -42.8 | -19 % |
| 2021 | 148.35 | 37.31 | 33.595 % | 220.89 | 38.44 | 21.071 % |
| 2022 | 183.5 | 35.15 | 23.694 % | 252.63 | 31.74 | 14.37 % |
| 2023 | 165.38 | -18.12 | -9.873 % | 257.36 | 4.73 | 1.871 % |
| 2024 | 160.23 | -5.16 | -3.118 % | 256.83 | -0.53 | -0.204 % |
Between 1962 to 2024, Kuwait experienced the following economic phases:
The most remarkable growth occurred in 1974 with an increase of 140.477%, while the largest decline was in 1991 at -40.253%.