Kuwait Snapshot - PESTLE, SWOT, Risk and Macroeconomic Trends Analysis
Kuwait Snapshot - PESTLE, SWOT, Risk and Macroeconomic Analysis report is designed to provide in-depth information about Kuwait including it’s PESTLE (political, economic, social, technological, legal and environmental), SWOT (Strengths, Weaknesses, Opportunities and Threats) and country risk analysis backed by macroeconomic data.
Kuwait’s small and open economy is undiversified and almost fully based on the oil sector, which is a source of financial strength, but also a severe structural weakness. Kuwait holds the sixth-largest proven oil reserves in the world, enough to sustain current production of 3m bpd for 90 years. Kuwait is the world's eighth-largest oil producer.
Kuwait is estimated to have population of 4.895 million in the year 2023 and expected to reach 5.23 million by 2027, increasing at a CAGR of 1.67%.
Kuwait’s real gross domestic product (GDP) was KWD 36.006 billion in 2020 and while recovering from the COVID-19 impact it increased by 1.29% to be around KWD 36.477 billion in 2021. It is further expected to increase by a CAGR of 3.62% and reach KWD 45.14 billion by 2027.
Kuwait’s unemployment rate was 3.3% of total labor force in 2020. Despite slowdown in global economic activity due to COVID-19 pandemic, the unemployment in Kuwait decreased by 17.86% and reached 2.8% in 2021.
Kuwait’s per capita GDP was USD 38,123.224 whereas purchasing power parity (PPP) based per capita GDP was USD 51,527.916 for the year 2022.
In 2022, Kuwait government’s revenue was KWD 30.571 billion whereas the expenditure was KWD 22.706 billion. This resulted in Kuwait government’s net lending / borrowing positive at KWD 7.865 billion in 2022 indicating that enough financial resources were made available by the Kuwait government to boost economic growth.
The current account balance for Kuwait was positive USD 53.328 billion for the year 2022 and is expected to further decrease at a CAGR of 11.35% and reach positive USD 29.19 billion by 2027. This positive current account balance indicates that Kuwait will remain a net lender to rest of the world till 2027.
Scope of Kuwait Snapshot – PESTLE, SWOT, Risk Macroeconomic Analysis Report
Kuwait’s small and open economy is undiversified and almost fully based on the oil sector, which is a source of financial strength, but also a severe structural weakness. Kuwait holds the sixth-largest proven oil reserves in the world, enough to sustain current production of 3m bpd for 90 years. Kuwait is the world's eighth-largest oil producer.
Kuwait is estimated to have population of 4.895 million in the year 2023 and expected to reach 5.23 million by 2027, increasing at a CAGR of 1.67%.
Kuwait’s real gross domestic product (GDP) was KWD 36.006 billion in 2020 and while recovering from the COVID-19 impact it increased by 1.29% to be around KWD 36.477 billion in 2021. It is further expected to increase by a CAGR of 3.62% and reach KWD 45.14 billion by 2027.
Kuwait’s unemployment rate was 3.3% of total labor force in 2020. Despite slowdown in global economic activity due to COVID-19 pandemic, the unemployment in Kuwait decreased by 17.86% and reached 2.8% in 2021.
Kuwait’s per capita GDP was USD 38,123.224 whereas purchasing power parity (PPP) based per capita GDP was USD 51,527.916 for the year 2022.
In 2022, Kuwait government’s revenue was KWD 30.571 billion whereas the expenditure was KWD 22.706 billion. This resulted in Kuwait government’s net lending / borrowing positive at KWD 7.865 billion in 2022 indicating that enough financial resources were made available by the Kuwait government to boost economic growth.
The current account balance for Kuwait was positive USD 53.328 billion for the year 2022 and is expected to further decrease at a CAGR of 11.35% and reach positive USD 29.19 billion by 2027. This positive current account balance indicates that Kuwait will remain a net lender to rest of the world till 2027.
Scope of Kuwait Snapshot – PESTLE, SWOT, Risk Macroeconomic Analysis Report
- This report provides information about key macroeconomic indicators for Kuwait.
- This report provides PESTLE (political, economic, social, technological, legal and environmental) analysis for Kuwait.
- This report provides SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis for Kuwait.
- This report provides risk analysis for Kuwait.
- This report provides information on Coronavirus (COVID-19) pandemic related policy response of Kuwait.
1. EXECUTIVE SUMMARY
Scope of Kuwait Snapshot – PESTLE, SWOT, Risk Macroeconomic Analysis Report
Research Methodology
2. PESTLE ANALYSIS OF KUWAIT
2.1 Political Factors
2.2 Economic Factor
2.2.1 National Accounts Indicators
2.2.1.1 Real Gross Domestic Product
2.2.1.2 Nominal Gross Domestic Product
2.2.1.3 Gross Domestic Product Deflator
2.2.1.4 Per Capita Gross Domestic Product
2.2.1.5 Purchasing-Power-Parity (PPP) Based Per Capita GDP
2.2.1.6 Total Investment / Gross Capital Formation
2.2.1.7 Gross National Savings
2.2.2 Monetary Indicators
2.2.2.1 Consumer Price Index (CPI) Inflation
2.2.3 Trade Indicators
2.2.3.1 Change in Import Volume of Goods & Services
2.2.3.2 Change in Export Volume of Goods & Services
2.2.4 Government Finance Indicators
2.2.4.1 Government Revenue
2.2.4.2 Government Expenditure
2.2.4.3 Government Net Lending / Borrowing
2.2.4.4 Government Gross Debt
2.2.5 Balance of Payment Indicators
2.2.5.1 Current Account Balance
2.3 Social Factors
2.3.1 Population
2.3.2 Unemployment
2.4 Technological Factors
2.5 Legal Factors
2.6 Environmental Factors
3. SWOT ANALYSIS OF KUWAIT
3.1 Strengths
3.2 Weaknesses
3.3 Opportunities
3.4 Threats
4. RISK ANALYSIS OF KUWAIT
5. COVID-19 RELATED POLICY RESPONSE OF KUWAIT
5.1 Coronavirus (COVID-19) Containment Measures of Kuwait
5.2 Coronavirus (COVID-19) Related Fiscal Policy Measures by Kuwait
5.3 Coronavirus (COVID-19) Related Monetary Policy Measures by Kuwait
5.4 Coronavirus (COVID-19) Related Policy Measures for MSMEs by Kuwait
List of Exhibits
Notes
Company Information
Scope of Kuwait Snapshot – PESTLE, SWOT, Risk Macroeconomic Analysis Report
Research Methodology
2. PESTLE ANALYSIS OF KUWAIT
2.1 Political Factors
2.2 Economic Factor
2.2.1 National Accounts Indicators
2.2.1.1 Real Gross Domestic Product
2.2.1.2 Nominal Gross Domestic Product
2.2.1.3 Gross Domestic Product Deflator
2.2.1.4 Per Capita Gross Domestic Product
2.2.1.5 Purchasing-Power-Parity (PPP) Based Per Capita GDP
2.2.1.6 Total Investment / Gross Capital Formation
2.2.1.7 Gross National Savings
2.2.2 Monetary Indicators
2.2.2.1 Consumer Price Index (CPI) Inflation
2.2.3 Trade Indicators
2.2.3.1 Change in Import Volume of Goods & Services
2.2.3.2 Change in Export Volume of Goods & Services
2.2.4 Government Finance Indicators
2.2.4.1 Government Revenue
2.2.4.2 Government Expenditure
2.2.4.3 Government Net Lending / Borrowing
2.2.4.4 Government Gross Debt
2.2.5 Balance of Payment Indicators
2.2.5.1 Current Account Balance
2.3 Social Factors
2.3.1 Population
2.3.2 Unemployment
2.4 Technological Factors
2.5 Legal Factors
2.6 Environmental Factors
3. SWOT ANALYSIS OF KUWAIT
3.1 Strengths
3.2 Weaknesses
3.3 Opportunities
3.4 Threats
4. RISK ANALYSIS OF KUWAIT
5. COVID-19 RELATED POLICY RESPONSE OF KUWAIT
5.1 Coronavirus (COVID-19) Containment Measures of Kuwait
5.2 Coronavirus (COVID-19) Related Fiscal Policy Measures by Kuwait
5.3 Coronavirus (COVID-19) Related Monetary Policy Measures by Kuwait
5.4 Coronavirus (COVID-19) Related Policy Measures for MSMEs by Kuwait
List of Exhibits
Notes
Company Information
LIST OF EXHIBITS
Exhibit 2.1 Real GDP of Kuwait (in KWD billion) 2020-2027
Exhibit 2.2 Nominal GDP of Kuwait (in KWD billion) 2020-2027
Exhibit 2.3 Nominal GDP of Kuwait (in USD billion) 2020-2027
Exhibit 2.4 GDP Deflator Index for Kuwait 2020-2027
Exhibit 2.5 Per Capita GDP of Kuwait (in USD) 2020-2027
Exhibit 2.6 PPP Per Capita GDP of Kuwait (in USD) 2020-2027
Exhibit 2.7 Total Investment of Kuwait (in %) 2020-2027
Exhibit 2.8 Gross National Savings of Kuwait (in %) 2020-2027
Exhibit 2.9 Consumer Price Index (CPI) Inflation of Kuwait 2020-2027
Exhibit 2.10 Change in Import Volume of Goods & Services of Kuwait (in %) 2020-2027
Exhibit 2.11 Change in Export Volume of Goods & Services of Kuwait (in %) 2020-2027
Exhibit 2.12 Government Revenue of Kuwait (in KWD billion) 2020-2027
Exhibit 2.13 Government Revenue of Kuwait (in % of GDP) 2020-2027
Exhibit 2.14 Government Expenditure of Kuwait (in KWD billion) 2020-2027
Exhibit 2.15 Government Expenditure of Kuwait (in % of GDP) 2020-2027
Exhibit 2.16 Government Net Lending / Borrowing of Kuwait (in KWD billion) 2020-2027
Exhibit 2.17 Government Net Lending / Borrowing of Kuwait (in % of GDP) 2020-2027
Exhibit 2.18 Government Gross Debt of Kuwait (in KWD billion) 2020-2027
Exhibit 2.19 Government Gross Debt of Kuwait (in % of GDP) 2020-2027
Exhibit 2.20 Current Account Balance of Kuwait (in USD billion) 2020-2027
Exhibit 2.21 Current Account Balance of Kuwait (in % of GDP) 2020-2027
Exhibit 2.22 Kuwait – Top 10 Export Countries (in USD million) & % Share in 2021
Exhibit 2.23 Kuwait – Top 10 Import Countries (in USD million) & % Share in 2021
Exhibit 2.24 Population of Kuwait (in million) 2020-2027
Exhibit 2.25 Unemployment Level in Kuwait (in %) 2020-2021
Exhibit 3.1 SWOT Analysis of Kuwait
Exhibit 5.1 Covid-19 Policy Response for Supporting MSMEs by Kuwait
Exhibit 2.1 Real GDP of Kuwait (in KWD billion) 2020-2027
Exhibit 2.2 Nominal GDP of Kuwait (in KWD billion) 2020-2027
Exhibit 2.3 Nominal GDP of Kuwait (in USD billion) 2020-2027
Exhibit 2.4 GDP Deflator Index for Kuwait 2020-2027
Exhibit 2.5 Per Capita GDP of Kuwait (in USD) 2020-2027
Exhibit 2.6 PPP Per Capita GDP of Kuwait (in USD) 2020-2027
Exhibit 2.7 Total Investment of Kuwait (in %) 2020-2027
Exhibit 2.8 Gross National Savings of Kuwait (in %) 2020-2027
Exhibit 2.9 Consumer Price Index (CPI) Inflation of Kuwait 2020-2027
Exhibit 2.10 Change in Import Volume of Goods & Services of Kuwait (in %) 2020-2027
Exhibit 2.11 Change in Export Volume of Goods & Services of Kuwait (in %) 2020-2027
Exhibit 2.12 Government Revenue of Kuwait (in KWD billion) 2020-2027
Exhibit 2.13 Government Revenue of Kuwait (in % of GDP) 2020-2027
Exhibit 2.14 Government Expenditure of Kuwait (in KWD billion) 2020-2027
Exhibit 2.15 Government Expenditure of Kuwait (in % of GDP) 2020-2027
Exhibit 2.16 Government Net Lending / Borrowing of Kuwait (in KWD billion) 2020-2027
Exhibit 2.17 Government Net Lending / Borrowing of Kuwait (in % of GDP) 2020-2027
Exhibit 2.18 Government Gross Debt of Kuwait (in KWD billion) 2020-2027
Exhibit 2.19 Government Gross Debt of Kuwait (in % of GDP) 2020-2027
Exhibit 2.20 Current Account Balance of Kuwait (in USD billion) 2020-2027
Exhibit 2.21 Current Account Balance of Kuwait (in % of GDP) 2020-2027
Exhibit 2.22 Kuwait – Top 10 Export Countries (in USD million) & % Share in 2021
Exhibit 2.23 Kuwait – Top 10 Import Countries (in USD million) & % Share in 2021
Exhibit 2.24 Population of Kuwait (in million) 2020-2027
Exhibit 2.25 Unemployment Level in Kuwait (in %) 2020-2021
Exhibit 3.1 SWOT Analysis of Kuwait
Exhibit 5.1 Covid-19 Policy Response for Supporting MSMEs by Kuwait
