Economic Growth in Kuwait
Kuwait recorded an average real GDP growth of 0.9% in the decade to 2020, below the 2.6% average for the Middle East & North Africa. In 2020, real GDP growth was -8.9%. For more GDP information, visit our dedicated page.
Kuwait GDP Chart
Note: This chart displays Economic Growth (GDP, annual variation in %) for Kuwait from 2014 to 2023.
Source: Macrobond.
Kuwait GDP Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, ann. var. %) | 2.6 | -4.8 | 2.3 | 5.9 | -3.6 |
| GDP (USD bn) | 141 | 111 | 148 | 184 | 164 |
| GDP (KWD bn) | 42.8 | 34.0 | 44.8 | 56.3 | 50.3 |
| Economic Growth (Nominal GDP, ann. var. %) | 2.5 | -20.5 | 31.7 | 25.8 | -10.7 |
| Economic Growth (GDP Oil, ann. var. %) | -1.0 | -8.5 | -0.9 | 12.1 | -4.3 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Kuwaiti GDP projections for the next ten years from a panel of 21 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable GDP forecast available for Kuwaiti GDP.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Kuwaiti GDP projections.
Want to get access to the full dataset of Kuwaiti GDP forecasts? Send an email to info@focus-economics.com.