International Trade in Kuwait

International Trade in Kuwait

Kuwait is a rich country with a high per capita income of about 30,000 USD. Its GDP has experienced a growth rate of more than 20% during the past five years. The country has 9% of the world oil reserves.  Kuwait is trying to position itself as the entrance gate for investment in the area.... Read more

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Market Analyses About Kuwait (32)

Import and Export Services in Kuwait (396)

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    Media/Graphic Design, Kuwait

    Graphic Design Agency, providing creative services for established and entrepreneurial brands, businesses. We develop strategy-based...

Business Tips About Kuwait (10)

Agents and Distributors in Kuwait (64)

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    Spanish Food Prodespa, S.L.

    Export Management, Kuwait

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    AW SUNNY STEEL

    Metal Sales and Distribution, Kuwait

    sunnyofsteel at g m a i l c o m Excellent in nickel monel inconel incoloy hastelloy duplex stainless steel pipe tube flange flanges...

Overview About International Trade in Kuwait

Main Industry Sectors

Agriculture activity is very limited due to lack of water and arable land. Agriculture contributes only 2% to GDP.

With 100 billion barrels of oil in reserve (i.e. 9% of the world's total and representing 100 years of production), the country's industry is based on oil exploitation. Income from this sector represents more than half of GDP and more than 90% of exports, i.e. more than 95% of the country's income. By 2030, Kuwait is also planning to invest more than USD 87 billion in the oil sector, especially in creating new oil refineries.

The non-oil sector is dominated by services, mostly real estate and financial services, which were relatively hit by the financial crisis.

For further information, consult the "Doing Business in Kuwait" guide by the National Bank of Kuwait.

 

Economic Overview

Kuwait is a rich country with a high per capita income of about 30,000 USD. Its GDP has experienced a growth rate of more than 20% during the past five years. The country has 9% of the world oil reserves.  Kuwait is trying to position itself as the entrance gate for investment in the area. The public sector dominates the economy and concentrates three quarters of the country's

News Related to International Trade in Kuwait

  • kuwait-and-turkey-forge-mou-to-boost-bilateral-investments - Aug 02, 2019

    Title: Kuwait and Turkey forge MoU to boost bilateral investments Article Date: 11/15/2017 Page Content: President Recep Tayyip Erdo?an??s official visit in Kuwait to hold talks with Kuwait??s Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah saw a number of agreements concluded in fields such as the economy, military, culture, science, and sports.   Among the agreements was an MoU for the encouragement of bilateral investments between Turkey and Kuwait that was inked by ISPAT President Arda Ermut and Director General of Kuwait??s Direct Investment Promotion Authority (KDIPA) Sheikh Dr. Meshaal Jaber Al Ahmed Al-Sabah. Under the terms of the MoU, the two investment promotion agencies will exchange investment related information, expertise, and technical know-how with the aim to increase mutual investments and expand available investment opportunities.   On a separate occasion later the same month, the ISPAT delegation together with Turkish private equity companies visited Kuwait and Qatar to cultivate long-term relations between global limited partners and Turkish general partners. Page Description: Kuwait and Turkey forge MoU to boost bilateral investments. Page Image:

    Source: INVEST IN TURKEY

  • Kuwait Airways launches direct flights to Baku - Jul 27, 2019

    Kuwait Airways launches direct flights to Baku

    Source: TODAY AZERBAIJAN

  • Kuwait Airlines to start regular flights between Baku & Kuwait City - Jul 14, 2019

    Kuwait Airlines to start regular flights between Baku & Kuwait City

    Source: TODAY AZERBAIJAN