| 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. Oil production declined
by an estimated 8% in 2002 but is expected to return to the
2001 level in 2003. |
| GDP |
purchasing
power parity - $36.85 billion (2002 est.) |
| GDP
- real growth rate |
-2% (2002
est.) |
| GDP
- per capita |
purchasing
power parity - $17,500 (2002 est.) |
| GDP
- composition by sector |
agriculture:
60%
industry: 39.7%
services: 0.3% (2000) |
| Population
below poverty line |
NA% |
| Inflation
rate (consumer prices) |
2% (2002
est.) |
| Labor
force |
1.3 million
note: non-Kuwaitis represent about 80% of the labor force.
(1998 est.) |
| Labor
force - by occupation |
agriculture
NA, industries NA, services NA |
| Unemployment
rate |
7% (2002
est.) |
| Industries |
petroleum,
petrochemicals, desalination, food processing, construction
materials |
| Industrial
production growth rate |
-5% (2002
est.) |
