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Britain oversaw foreign relations and defense for the ruling Kuwaiti AL-SABAH dynasty from 1899 until independence in 1961. Kuwait was attacked and overrun by Iraq on 2 August 1990. Following several weeks of aerial bombardment, a US-led, UN coalition began a ground assault on 23 February 1991 that liberated Kuwait in four days. Kuwait spent more than $5 billion to repair oil infrastructure damaged during 1990-91. The AL-SABAH family has ruled since returning to power in 1991 and reestablished an elected legislature that in recent years has become increasingly assertive. The country witnessed the historic election in May 2009 of four women to its National Assembly. Amid the 2010-11 uprisings and protests across the Arab world, stateless Arabs, known as bidoon, staged small protests in February and March 2011 demanding citizenship, jobs, and other benefits available to Kuwaiti nationals. Youth activist groups - supported by opposition legislators and the prime minister's rivals within the ruling family - rallied in March 2011 for an end to corruption and the ouster of the prime minister and his cabinet. Similar protests continued sporadically throughout April and May. In late September 2011 government inquiries of widespread corruption drew more public anger and renewed calls for the prime minister's removal.



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Economy

Economy - overview
Kuwait has a geographically small, but wealthy, relatively open economy with crude oil reserves of about 104 billion barrels - about 7% of world reserves. Petroleum accounts for nearly half of GDP, 95% of export revenues, and 95% of government income. Kuwaiti officials have committed to increasing oil production to 4 million barrels per day by 2020. The rise in global oil prices throughout 2011 is reviving government consumption and economic growth. Kuwait has experienced a 20% increase in government budget revenue, which has led to higher budget expenditures, particularly wage hikes for many public sector employees. Kuwait has done little to diversify its economy, in part, because of this positive fiscal situation, and, in part, due to the poor business climate and the acrimonious relationship between the National Assembly and the executive branch, which has stymied most movement on economic reforms. In 2010, Kuwait passed an economic development plan that pledges to spend up to $130 billion over five years to diversify the economy away from oil, attract more investment, and boost private sector participation in the economy.

Gdp (purchasing power parity) World Ranking: 60
$155.5 billion (2011 est.)
$143.7 billion (2010 est.)
$138.9 billion (2009 est.)
Note Data are in 2011 US dollars

Gdp (official exchange rate)
$176.7 billion (2011 est.)

Gdp - real growth rate World Ranking: 18
8.2% (2011 est.)
3.4% (2010 est.)
-5.2% (2009 est.)

Gdp - per capita (ppp) World Ranking: 19
$42,200 (2011 est.)
$40,100 (2010 est.)
$39,900 (2009 est.)
Note Data are in 2011 US dollars

Gdp - composition by sector
Agriculture 0.3%
Industry 47.4%
Services 52.3% (2011 est.)

Labor force World Ranking: 116
2.243 million
Note
Non-Kuwaitis represent about 60% of the labor force (2011 est.)

Labor force - by occupation
Agriculture NA%
Industry NA%
Services NA%

Unemployment rate World Ranking: 16
2.2% (2004 est.)

Population below poverty line
NA%

Household income or consumption by percentage share
Lowest 10% NA%
Highest 10% NA%

Investment (gross fixed) World Ranking: 37
26.1% of GDP (2011 est.)

Budget
Revenues $108.3 billion
Expenditures $58.06 billion (2011 est.)

Taxes and other revenues World Ranking: 8
61.3% of GDP (2011 est.)

Budget surplus (+) or deficit (-) World Ranking: 3
28.4% of GDP (2011 est.)

Public debt World Ranking: 137
6.5% of GDP (2011 est.)
9.9% of GDP (2010 est.)

Inflation rate (consumer prices) World Ranking: 116
4.7% (2011 est.)
4% (2010 est.)

Central bank discount rate World Ranking: 103
1.25% (31 December 2010 est.)
3% (31 December 2009 est.)

Commercial bank prime lending rate World Ranking: 175
5.19% (31 December 2011 est.)
2.9% (31 December 2010 est.)

Stock of narrow money World Ranking: 61
$26.31 billion (31 December 2011 est.)
$20.05 billion (31 December 2010 est.)

Stock of broad money World Ranking: 54
$99.89 billion (31 December 2011 est.)
$91.35 billion (31 December 2010 est.)

Stock of domestic credit World Ranking: 52
$108.3 billion (31 December 2011 est.)
$99.52 billion (31 December 2010 est.)

Market value of publicly traded shares World Ranking: 39
$100.9 billion (31 December 2011)
$119.6 billion (31 December 2010)
$95.94 billion (31 December 2009)

Agriculture - products
Fish

Industries
Petroleum, petrochemicals, cement, shipbuilding and repair, water desalination, food processing, construction materials

Industrial production growth rate World Ranking: 22
8.7% (2011 est.)

Electricity - production World Ranking: 48
49.82 billion kWh (2009 est.)

Electricity - consumption World Ranking: 50
42.58 billion kWh (2008 est.)

Electricity - exports
0 kWh (2009 est.)

Electricity - imports
0 kWh (2009 est.)

Oil - production World Ranking: 11
2.45 million bbl/day (2010 est.)

Oil - consumption World Ranking: 36
354,000 bbl/day (2010 est.)

Oil - exports World Ranking: 8
2.127 million bbl/day (2009 est.)

Oil - imports World Ranking: 207
0 bbl/day (2009 est.)

Oil - proved reserves World Ranking: 6
104 billion bbl (1 January 2011 est.)

Natural gas - production World Ranking: 41
11.49 billion cu m (2009 est.)

Natural gas - consumption World Ranking: 42
12.38 billion cu m (2009 est.)

Natural gas - exports World Ranking: 127
0 cu m (2009 est.)

Natural gas - imports World Ranking: 61
890 million cu m (2009 est.)

Natural gas - proved reserves World Ranking: 20
1.798 trillion cu m (1 January 2011 est.)

Current account balance World Ranking: 8
$70.85 billion (2011 est.)
$38.29 billion (2010 est.)

Exports World Ranking: 39
$104.3 billion (2011 est.)
$67.62 billion (2010 est.)

Exports - commodities
Oil and refined products, fertilizers

Exports - partners
South Korea 18.3%, Japan 14.2%, India 13.4%, China 9.9%, US 8.7% (2011)

Imports World Ranking: 72
$21.96 billion (2011 est.)
$20.07 billion (2010 est.)

Imports - commodities
Food, construction materials, vehicles and parts, clothing

Imports - partners
US 11.9%, India 10%, China 9.3%, Saudi Arabia 8%, South Korea 6.3%, Japan 5.9%, Germany 4.8%, UAE 4.1% (2011)

Reserves of foreign exchange and gold World Ranking: 53
$25.93 billion (31 December 2011 est.)
$21.35 billion (31 December 2010 est.)

Debt - external World Ranking: 61
$41.73 billion (31 December 2011 est.)
$44.88 billion (31 December 2010 est.)

Stock of direct foreign investment - at home World Ranking: 89
$2.764 billion (31 December 2011 est.)
$2.366 billion (31 December 2010 est.)

Stock of direct foreign investment - abroad World Ranking: 34
$48.39 billion (31 December 2011 est.)
$39.68 billion (31 December 2010 est.)

Exchange rates
Kuwaiti dinars (KD) per US dollar -
0.276 (2011 est.)
0.2866 (2010 est.)
0.2877 (2009)
0.2679 (2008)
0.2844 (2007)

Fiscal year
1 April - 31 March


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  Kuwait (Kuwait City):


  GPS points from Kuwait (Kuwait City)

Khawr Shaytanah Muhafazat Jahra'

Al Jleeb Muhafazat Al Wafrah

Al-sada Muhafazat Al Wafrah

Al Lugit Muhafazat Al Wafrah

Khabrat Al Mijmad Muhafazat Al Wafrah

Ar Rawdah Muhafazat Al `asimah

Silsilat Tilal Al Mutlar Muhafazat Al Wafrah

Markaz Al Fawaris Muhafazat Al Wafrah




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