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Kuwait has a geographically small, but wealthy, relatively open economy with self-reported crude oil reserves of about 104 billion barrels - about 9% 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. Kuwait survived the economic crisis on the strength of budget surpluses generated by high oil prices, posting its eleventh consecutive budget surplus in 2009. Kuwait has done little to diversify its economy, in part, because of this positive fiscal situa...  More..

Economy of Kuwait
SOURCE: CIA - The World Factbook
Currency Kuwaiti Dinar
Fiscal Year 01 April - 31 March
GDP (PPP) $145.7 billion (2009 est.)
GDP (per capita) $54,100 (2009 est.)
Exports $49.77 billion (2009 est.)
Imports $20.8 billion (2009 est.)
Main Industries Petroleum, Petrochemicals, Cement, Shipbuilding and Repair, Water Desalination, Food Processing, Construction Materials
Exports - Commodities Oil and Refined Products, Fertilizers
Imports - Commodities Food, Construction Materials, Vehicles and Parts, Clothing
Exports Partners Japan 18.5%, South Korea 14.7%, India 10.9%, Taiwan 9.8%, US 9%, Singapore 8%, China 6.1% (2008)
Imports Partners US 11.7%, Japan 9.1%, Germany 8%, China 7.5%, Saudi Arabia 6.9%, Italy 4.7%, UK 4.2% (2008)

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