View source for Economy of Kuwait

{{Short description|None}}
{{Use dmy dates|date=December 2020}} 
{{Infobox economy
| country = [[Kuwait]]
| image = File:Kuwait city  cityscape.jpg
| image_size = 310px
| caption = [[Kuwait City]] skyline
| currency = [[Kuwaiti dinar]] (KWD)
| fixed exchange = 
| year = 1 April – 31 March
| organs = [[WTO]], [[OPEC]] and [[Gulf Cooperation Council|GCC]]
| group = {{plainlist|
*[[Developing country|Developing/Emerging]]<ref name="msci2020">{{Cite web|title=Kuwait's Move from Frontier to Emerging Market|date=14 December 2020|url=https://www.msci.com/www/blog-posts/kuwait-s-move-from-frontier-to/02240043624|access-date=16 June 2021|archive-date=29 July 2021|archive-url=https://web.archive.org/web/20210729065417/https://www.msci.com/www/blog-posts/kuwait-s-move-from-frontier-to/02240043624|url-status=live}}</ref>
*[[World Bank high-income economy|High-income economy]]<ref name="worldbank-knowledgebase-2019">{{cite web |url=https://datahelpdesk.worldbank.org/knowledgebase/articles/906519-world-bank-country-and-lending-groups |title=World Bank Country and Lending Groups |publisher=[[World Bank]] |website=datahelpdesk.worldbank.org |access-date=29 September 2019 |archive-date=28 October 2019 |archive-url=https://web.archive.org/web/20191028223324/https://datahelpdesk.worldbank.org/knowledgebase/articles/906519-world-bank-country-and-lending-groups |url-status=live }}</ref>}}
| population = {{IncreaseNeutral}} 4,853,420 (2023)<ref>{{cite web | url=https://data.worldbank.org/indicator/SP.POP.TOTL?locations=KW&most_recent_value_desc=true | title=Population, total - Kuwait &#124; Data | access-date=19 January 2022 | archive-date=19 January 2022 | archive-url=https://web.archive.org/web/20220119202759/https://data.worldbank.org/indicator/SP.POP.TOTL?locations=KW&most_recent_value_desc=true | url-status=live }}</ref>
| gdp = {{plainlist|
*{{decrease}} $160.23 billion (nominal, 2024 est)<ref name="GCCWEO-OCT24">{{cite web |url=https://www.imf.org/en/Publications/WEO/weo-database/2024/October/weo-report?c=419,443,449,453,456,466,&s=NGDP_RPCH,NGDPD,PPPGDP,NGDPDPC,PPPPC,PCPIPCH,LP,&sy=2022&ey=2028&ssm=0&scsm=1&scc=0&ssd=1&ssc=0&sic=0&sort=country&ds=.&br=1 |title=Report for Selected Countries and Subjects: October 2024|publisher=[[International Monetary Fund]]|website=imf.org}}</ref>
*{{decrease}} $249.255 billion ([[Purchasing power parity|PPP]], 2024 est.)<ref name="GCCWEO-OCT24"/>}}
| gdp rank = {{plainlist|
*[[List of countries by GDP (nominal)|58th (nominal, 2024)]]
*[[List of countries by GDP (PPP)|72nd (PPP, 2024)]]}}
| growth = {{plainlist|
*{{increase}} -3.6%&nbsp;(2023)
*{{increase}} -2.7%&nbsp;(2024e)
*{{increase}} 3.3%&nbsp;(2025f)<ref name="GCCWEO-OCT24"/>}}
| per capita = {{plainlist|
*{{decrease}} $32,289 (nominal, 2024 est.)<ref name="GCCWEO-OCT24"/>
*{{decrease}} $51,200 ([[Purchasing power parity|PPP]], 2025 est.)<ref name="GCCWEO-OCT24"/>}}
| per capita rank = {{plainlist|
*[[List of countries by GDP (nominal) per capita|37th (nominal, 2024)]]
*[[List of countries by GDP (PPP) per capita|39th (PPP, 2024)]]}}
| components = 
| sectors = agriculture (0.4%), industry (67%), services (43.6%) (2022 est.)<ref name="cia.gov"/>
| inflation = {{decreasepositive}} 3.0% (2024)<ref name="GCCWEO-OCT24"/>
| unemployment = {{decreasepositive}} 2.1% <ref name=cia.gov>{{cite web|url=https://www.cia.gov/the-world-factbook/countries/kuwait/|title=Kuwait|work=[[The World Factbook]]|publisher=Central Intelligence Agency (CIA)|year=2018|access-date=21 April 2018|archive-date=4 February 2021|archive-url=https://web.archive.org/web/20210204143932/https://www.cia.gov/the-world-factbook/countries/kuwait/|url-status=live}}</ref>
| gini = 
| hdi = {{plainlist|
*{{increase}} 0.847 {{color|darkgreen|very high}} (2022)<ref name="kwhdi">{{Cite web |date=13 March 2024 |title=Human Development Report 2023/2024 |url=https://hdr.undp.org/system/files/documents/global-report-document/hdr2023-24reporten.pdf|url-status=live |archive-url=https://web.archive.org/web/20240313164319/https://hdr.undp.org/system/files/documents/global-report-document/hdr2023-24reporten.pdf |archive-date=13 March 2024 |access-date=15 June 2024 |publisher=[[United Nations Development Programme]] |language=en}}</ref> ([[List of countries by Human Development Index|49th]])
*N/A [[List of countries by inequality-adjusted HDI|IHDI]] (2022)}}
| industries = [[petroleum]], [[petrochemicals]], [[steelmaking]], [[cement]], [[shipbuilding]] and repair, [[desalination]], [[food processing]], construction materials
| exports = $95.476 billion (2023 est.)<ref name="TrendEconomy">{{cite web |url=https://trendeconomy.com/data/h2/Kuwait/TOTAL |title=Kuwait |website=IMF.org |access-date=3 November 2020 |archive-date=24 February 2021 |archive-url=https://web.archive.org/web/20210224200914/https://trendeconomy.com/data/h2/Kuwait/TOTAL |url-status=live }}</ref>
| export-goods = oil and refined products, acyclic alcohols, motor cars and other motor vehicles, [[lightvessels]], floating cranes, floating docks, dredgers.<ref name="newes"/>
| export-partners = {{flag|China}} 24% <br /> {{flag|India}} 15% <br /> {{flag|South Korea}} 11% <br /> {{flag|Japan}} 9% <br /> {{flag|Taiwan}} 7% 
(2022 est.)<ref name=newes>{{cite web|url=https://santandertrade.com/en/portal/analyse-markets/kuwait/foreign-trade-figures|title=Foreign Trade in Figures|quote=Kuwait exports to a wide number of countries, the main ones being India (1.6%), China (1.3%), United Arab Emirates (1.1%), Iraq (0.9%) and Saudi Arabia (0.8%). Kuwait’s largest suppliers are China (16.7%), the United States (8.7%), the UAE (8.6%) and Japan (5.9%).|access-date=14 May 2021|archive-date=26 November 2022|archive-url=https://web.archive.org/web/20221126224416/https://santandertrade.com/en/portal/analyse-markets/kuwait/foreign-trade-figures|url-status=live}}</ref><ref name=kuwait_trade_figures>{{cite web|url=https://globaledge.msu.edu/countries/kuwait/tradestats|title=Kuwait: Trade Statistics}}</ref><ref name=kuwait_trade_figures2>{{cite web|url=https://trendeconomy.com/data/h2/Kuwait/TOTAL|title=Kuwait: Imports and Exports|access-date=15 May 2021|archive-date=15 May 2021|archive-url=https://web.archive.org/web/20210515104915/https://trendeconomy.com/data/h2/Kuwait/TOTAL|url-status=live}}</ref><ref name=kuwait_trade_figures3>{{cite web|url=https://webgate.ec.europa.eu/isdb_results/factsheets/country/details_kuwait_en.pdf|title=Kuwait, Trade with World|page=8|publisher=[[European Union]]|access-date=15 May 2021|archive-date=15 May 2021|archive-url=https://web.archive.org/web/20210515115607/https://webgate.ec.europa.eu/isdb_results/factsheets/country/details_kuwait_en.pdf|url-status=live}}</ref>
| imports = $63.43 billion (2023 est.)<ref name="TrendEconomy" />
| import-goods = food, construction materials, vehicles and parts, clothing
| import-partners = {{flag|UAE}} 20% <br /> {{flag|China}} 16% <br /> {{flag|Saudi Arabia}} 9% <br /> {{flag|US}} 7% <br /> {{flag|Japan}} 4% (2022 est.)<ref name="newes"/>
| gross external debt = {{increaseNegative}}$48.91 billion (31 December 2017 est.)<ref name="cia.gov"/>
| FDI = 
| debt = {{increaseNegative}}$13.74 billion (2021 est.)<ref>{{cite web|url=https://www.ceicdata.com/en/indicator/kuwait/government-debt--of-nominal-gdp|title=Import Partners of Kuwait|publisher=CEIC Data|year=2018|access-date=2018-04-21|archive-date=7 September 2020|archive-url=https://web.archive.org/web/20200907005603/https://www.ceicdata.com/en/indicator/kuwait/government-debt--of-nominal-gdp|url-status=live}}</ref>
| revenue = $24.97 billion (2020 est.)<ref name="cia.gov"/>
| expenses = $71.58 billion (2020 est.)<ref name="cia.gov"/>
| aid = N/A
| credit = [[Standard & Poor's]]:<ref>{{cite web |title=Sovereigns rating list |publisher=Standard & Poor's |url=http://www.standardandpoors.com/ratings/sovereigns/ratings-list/en/eu/?subSectorCode=39 |access-date=26 May 2011 |archive-date=28 September 2011 |archive-url=https://web.archive.org/web/20110928234500/http://www.standardandpoors.com/ratings/sovereigns/ratings-list/en/eu/?subSectorCode=39 |url-status=live }}</ref><br />AA- (Domestic)<br />AA- (Foreign)<br />AA+ (T&C Assessment)<br />Outlook: Stable<ref name=guardian>{{cite news |title=How Fitch, Moody's and S&P rate each country's credit rating |date=15 April 2011 |first1=Simon |last1=Rogers |first2=Ami |last2=Sedghi |work=The Guardian |url=https://www.theguardian.com/news/datablog/2010/apr/30/credit-ratings-country-fitch-moodys-standard |access-date=31 May 2011 |archive-date=1 August 2013 |archive-url=https://web.archive.org/web/20130801105234/http://www.theguardian.com/news/datablog/2010/apr/30/credit-ratings-country-fitch-moodys-standard |url-status=live }}</ref><br />[[Moody's]]:<ref name=guardian/><br />Aa2<br />Outlook: Stable<br />[[Fitch Group|Fitch]]:<ref name=guardian/><br />AA<br />Outlook: Stable
| reserves = 
| spelling = 
}}
[[Kuwait]] has a petroleum-based economy that is classified as [[Developing country|emerging]]<ref name="msci2020"/> and [[World Bank high-income economy|high-income]].<ref name="worldbank-knowledgebase-2019"/><ref name=cia>{{cite web |url=https://www.cia.gov/the-world-factbook/countries/kuwait/ |title=Kuwait |website=[[The World Factbook]] |publisher=[[Central Intelligence Agency]] |date=10 April 2015 |access-date=24 January 2021 |archive-date=4 February 2021 |archive-url=https://web.archive.org/web/20210204143932/https://www.cia.gov/the-world-factbook/countries/kuwait/ |url-status=live }}</ref> By various per-capita measures of economic output, [[Kuwait]] is one of the wealthiest countries in the world.<ref name=worldbank>[http://data.worldbank.org/indicator/NY.GDP.PCAP.PP.CD?order=wbapi_data_value_2014+wbapi_data_value+wbapi_data_value-last&sort=desc "GDP per capita, PPP (current international $)", World Development Indicators database] {{Webarchive|url=https://web.archive.org/web/20150730030307/http://data.worldbank.org/indicator/NY.GDP.PCAP.PP.CD?order=wbapi_data_value_2014+wbapi_data_value+wbapi_data_value-last&sort=desc |date=30 July 2015 }}, World Bank. Database updated on 14 April 2015.</ref><ref>[https://web.archive.org/web/20070613004710/https://www.cia.gov/library/publications/the-world-factbook/rankorder/2004rank.html GDP – per capita (PPP)], [[The World Factbook]], Central Intelligence Agency.</ref><ref>[http://www.imf.org/external/pubs/ft/weo/2015/02/weodata/weorept.aspx?sy=2014&ey=2014&ssd=1&sort=country&ds=.&br=1&pr1.x=16&pr1.y=7&c=512%2C668%2C914%2C672%2C612%2C946%2C614%2C137%2C311%2C962%2C213%2C674%2C911%2C676%2C193%2C548%2C122%2C556%2C912%2C678%2C313%2C181%2C419%2C867%2C513%2C682%2C316%2C684%2C913%2C273%2C124%2C868%2C339%2C921%2C638%2C948%2C514%2C943%2C218%2C686%2C963%2C688%2C616%2C518%2C223%2C728%2C516%2C558%2C918%2C138%2C748%2C196%2C618%2C278%2C522%2C692%2C622%2C694%2C156%2C142%2C624%2C449%2C626%2C564%2C628%2C565%2C228%2C283%2C924%2C853%2C233%2C288%2C632%2C293%2C636%2C566%2C634%2C964%2C238%2C182%2C662%2C453%2C960%2C968%2C423%2C922%2C935%2C714%2C128%2C862%2C611%2C135%2C321%2C716%2C243%2C456%2C248%2C722%2C469%2C942%2C253%2C718%2C642%2C724%2C643%2C576%2C939%2C936%2C644%2C961%2C819%2C813%2C172%2C199%2C132%2C733%2C646%2C184%2C648%2C524%2C915%2C361%2C134%2C362%2C652%2C364%2C174%2C732%2C328%2C366%2C258%2C734%2C656%2C144%2C654%2C146%2C336%2C463%2C263%2C528%2C268%2C923%2C532%2C738%2C944%2C578%2C176%2C537%2C534%2C742%2C536%2C866%2C429%2C369%2C433%2C744%2C178%2C186%2C436%2C925%2C136%2C869%2C343%2C746%2C158%2C926%2C439%2C466%2C916%2C112%2C664%2C111%2C826%2C298%2C542%2C927%2C967%2C846%2C443%2C299%2C917%2C582%2C544%2C474%2C941%2C754%2C446%2C698%2C666&s=PPPPC&grp=0&a=World Economic Outlook Database, October 2015], [http://www.imf.org/external/ns/cs.aspx?id=28 International Monetary Fund] {{Webarchive|url=https://wayback.archive-it.org/all/20060214005019/http://www.imf.org/external/ns/cs.aspx?id=28 |date=14 February 2006 }}. Database updated on 6 October 2015.</ref><ref name=usatoday>{{cite web|author=Grant Suneson|url=https://www.usatoday.com/story/money/2019/07/07/richest-countries-in-the-world/39630693/|title=These are the 25 richest countries in the world|website=[[USA Today]]|date=7 July 2019|access-date=16 June 2021|archive-date=11 September 2023|archive-url=https://web.archive.org/web/20230911054415/https://www.usatoday.com/story/money/2019/07/07/richest-countries-in-the-world/39630693/|url-status=live}}</ref> [[Kuwait]] advocates since it's independence for a [[state capitalism|state-led capitalist]] [[economy system]].<ref>https://www.kuwaitembassy.org/about-kuwait/economy</ref>

==Energy==
===Petroleum and natural gas ===
{{Main|Oil reserves in Kuwait|Petroleum industry in Kuwait}}
In 1934, the Emir of Kuwait granted an oil concession to the [[Kuwait Oil Co.|Kuwait Oil Co. (KOC)]], jointly owned by the [[Anglo-Iranian Oil Company|Anglo-Persian Oil Company]] (later [[BP|British Petroleum Company]]) and [[Gulf Oil Corporation]] In 1976, the Kuwaiti Government nationalized KOC.
[[File:KuwaitiOilFires-STS037-152-91-(2).jpg|thumb|Smoke from burning Kuwait oil fields after Saddam Hussein set fire to during Gulf war]]
The [[Kuwait Petroleum Corporation]] (KPC), an integrated international oil company, is the parent company of the government's operations in the petroleum sector, and includes Kuwait Oil Company, which produced oil and gas; Kuwait National Petroleum Co., refining and domestic sales; Petrochemical Industries Co., producing ammonia and urea; Kuwait Foreign Petroleum Exploration Co., with several concessions in developing countries; Kuwait Oil Tanker Co.; and Santa Fe International Corp. The latter, purchased outright in 1982, gives KPC a worldwide presence in the petroleum industry.

KPC also has purchased from Gulf Oil Co. refineries and associated service stations in the Benelux nations and Scandinavia, as well as storage facilities and a network of service stations in Italy. In 1987, KPC bought a 19% share in British Petroleum, which was later reduced to 10%. KPC markets its products in Europe under the brand [[Kuwait Petroleum Corporation|Q8]] and is interested in the markets of the United States and Japan.

Kuwait has about {{convert|94|Goilbbl|km3}} of recoverable oil reserves. Estimated capacity, before the war, was about {{convert|2.4|Moilbbl/d}}. During the Iraqi occupation, Kuwait's oil-producing capacity was reduced to practically nothing. However, tremendous recovery and improvements have been made since. Oil production was {{convert|1.5|Moilbbl/d}} by the end of 1992, and pre-war capacity was restored in 1993. Kuwait's production capacity is estimated to be {{convert|2.5|Moilbbl/d}}. Kuwait plans to increase its capacity to {{convert|3.5|Moilbbl/d}} by 2005.

As part of Kuwait Vision 2035, Kuwait aims to position itself as a global hub for the petrochemical industry.<ref name="kuwaitvision">{{cite web|url=https://www.valve-world.net/webarticles/2021/06/22/al-zour-kuwaits-vision-of-becoming-an-international-hub-in-the-middle-east.html|title=Al-Zour: Kuwait's vision of becoming an international hub in the Middle East|website=Valve World|author=Ellie Pritchard|date=22 June 2021|access-date=21 July 2021|archive-date=21 January 2022|archive-url=https://web.archive.org/web/20220121165954/https://valve-world.net/webarticles/2021/06/22/al-zour-kuwaits-vision-of-becoming-an-international-hub-in-the-middle-east.html|url-status=dead}}</ref><ref name="chambers">{{cite web|url=https://chambers.com/content/item/3216|title=KUWAIT: An Introduction|website=[[Chambers and Partners]]|access-date=14 June 2021|archive-date=5 June 2021|archive-url=https://web.archive.org/web/20210605175836/https://chambers.com/content/item/3216|url-status=live}}</ref> [[Al Zour Refinery]] is the largest refinery in the Middle East.<ref name="zour1">{{cite web|title=Sinopec completes main unit of the Middle East's largest refinery|work=Hydrocarbon Processing|url=https://www.hydrocarbonprocessing.com/news/2019/12/sinopec-completes-main-unit-of-the-middle-easts-largest-refinery|date=16 December 2019}}</ref><ref name="zour2">{{cite web|title=Largest Refinery Project in the Middle East|work=Process Worldwide|url=https://www.process-worldwide.com/largest-refinery-project-in-the-middle-east-a-547741/|date=24 August 2016|access-date=14 June 2021|archive-date=22 April 2021|archive-url=https://web.archive.org/web/20210422065558/https://www.process-worldwide.com/largest-refinery-project-in-the-middle-east-a-547741/|url-status=live}}</ref><ref name="zour3">{{cite web|title=Start-up of Kuwait's al-Zour refinery still months off|work=[[Argus Media]]|url=https://www.argusmedia.com/en/news/2196345-startup-of-kuwaits-alzour-refinery-still-months-off|date=16 March 2021|access-date=14 June 2021|archive-date=16 March 2021|archive-url=https://web.archive.org/web/20210316153723/https://www.argusmedia.com/en/news/2196345-startup-of-kuwaits-alzour-refinery-still-months-off|url-status=dead}}</ref><ref name="alzour_env">{{cite journal|url=https://onepetro.org/SPEKOGS/proceedings-abstract/19KOGS/3-19KOGS/D033S018R006/218128|title=Site Preparation & Soil remediation for Kuwait's Largest Environmental Friendly oil Refinery, by Utilizing Dredging & Soil Compaction|website=OnePetro|author=Talal Aljiran; Walid Alkandari|date=13 October 2019|doi=10.2118/198101-MS|s2cid=210318313|access-date=21 July 2021|archive-date=21 July 2021|archive-url=https://web.archive.org/web/20210721064952/https://onepetro.org/SPEKOGS/proceedings-abstract/19KOGS/3-19KOGS/D033S018R006/218128|url-status=live|url-access=subscription}}</ref><ref name="kuwaitvision"/> Al Zour Refinery is a Kuwait-China cooperation project under the [[Belt and Road Initiative]].<ref name="chinakuwaitzour">{{cite web|url=http://www.xinhuanet.com/english/2019-12/14/c_138629489.htm|archive-url=https://web.archive.org/web/20191214024129/http://www.xinhuanet.com/english/2019-12/14/c_138629489.htm|url-status=dead|archive-date=14 December 2019|title=Feature: Kuwait's refinery project showcases Chinese concept of "win-win cooperation"|website=[[Xinhua News Agency]]|date=14 December 2019}}</ref>

===Renewable energy===
As part of Kuwait Vision 2035, Kuwait inaugurated its largest renewable energy park, Shagaya Renewable Energy Park, which includes concentrated solar power, solar photovoltaic, and wind power plants.<ref name="shagaya2">{{cite web|url=https://meconstructionnews.com/33566/kuwait-launches-phase-one-of-shagaya-renewable-energy-park|date=24 February 2019|title=Kuwait launches Phase One of Shagaya Renewable Energy Park|work=ME Construction News|access-date=6 August 2021|archive-date=16 April 2021|archive-url=https://web.archive.org/web/20210416202649/https://meconstructionnews.com/33566/kuwait-launches-phase-one-of-shagaya-renewable-energy-park|url-status=live}}</ref><ref name="renewable">{{cite web|url=https://www.mordorintelligence.com/industry-reports/kuwait-solar-energy-market|date=2021|title=Kuwait Solar Energy Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021–2026)|work=Mordor Intelligence|access-date=6 August 2021|archive-date=25 July 2021|archive-url=https://web.archive.org/web/20210725000741/https://www.mordorintelligence.com/industry-reports/kuwait-solar-energy-market|url-status=live}}</ref><ref name="shagaya">{{cite web|url=https://www.kuna.net.kw/ArticleDetails.aspx?id=2778772&language=en|date=20 February 2019|title=Shagaya power plant 1st phase launched|work=Kuwait News Agency (KUNA)|access-date=6 August 2021|archive-date=18 April 2021|archive-url=https://web.archive.org/web/20210418094018/https://www.kuna.net.kw/ArticleDetails.aspx?id=2778772&language=en|url-status=live}}</ref><ref name="shagaya1">{{cite news|url=https://www.utilities-me.com/news/12453-first-phase-of-kuwaits-shagaya-renewable-energy-park-launched|date=25 February 2019|title=First Phase Of Kuwait's Shagaya Renewable Energy Park Launched|work=Utilities Middle East|access-date=6 August 2021|archive-date=10 May 2021|archive-url=https://web.archive.org/web/20210510151140/https://www.utilities-me.com/news/12453-first-phase-of-kuwaits-shagaya-renewable-energy-park-launched|url-status=live}}</ref> The park consists of four phases with a target capacity of 4,000 MW.<ref name="shagaya4">{{cite web|url=https://www.zawya.com/mena/en/projects/story/PROJECTS_Kuwait_to_invite_consultancy_bids_for_renewable_energy_project-ZAWYA20210518081129/|date=18 May 2021|title=PROJECTS: Kuwait to invite consultancy bids for renewable energy project|work=Zawya|access-date=6 August 2021|archive-date=5 June 2021|archive-url=https://web.archive.org/web/20210605145736/https://www.zawya.com/mena/en/projects/story/PROJECTS_Kuwait_to_invite_consultancy_bids_for_renewable_energy_project-ZAWYA20210518081129/|url-status=live}}</ref><ref name="renewable" /><ref name="shagaya5">{{cite web|url=https://www.meed.com/kuwait-extends-renewable-advisory-deadline|date=23 June 2021|title=Kuwait extends renewable advisory deadline|work=[[MEED]]|quote=Various phases of the Shagaya renewable energy project will have a combined capacity of 4GW once completed|access-date=6 August 2021|archive-date=28 June 2021|archive-url=https://web.archive.org/web/20210628052145/https://www.meed.com/kuwait-extends-renewable-advisory-deadline|url-status=live}}</ref> It is set to be one of the largest renewable energy parks in the world.

==Steel manufacturing==
Steel manufacturing is Kuwait's second biggest industry.<ref name="steel">{{cite web|title=Faisal Awwad Al Khaldi: Go Big or Go Home|work=The Business Year|url=https://www.thebusinessyear.com/kuwait-2019/go-big-or-go-home/interview|date=2019|access-date=14 June 2021|archive-date=2 February 2022|archive-url=https://web.archive.org/web/20220202054418/https://www.thebusinessyear.com/kuwait-2019/go-big-or-go-home/interview|url-status=dead}}</ref> United Steel Industrial Company (KWT Steel) is Kuwait's main steel manufacturing company, the company caters to all of Kuwait's domestic market demands (particularly construction).<ref name="steel1">{{cite web|title=KWT Steel: Our ultimate goal is to become a fully-integrated steel manufacturer|work=Steel Orbis|url=https://www.steelorbis.com/steel-news/interviews/kwt-steel-our-ultimate-goal-is-to-become-a-fully_integrated-steel-manufacturer-1065742.htm|date=13 November 2018|access-date=14 June 2021|archive-date=22 September 2022|archive-url=https://web.archive.org/web/20220922032608/https://www.steelorbis.com/steel-news/interviews/kwt-steel-our-ultimate-goal-is-to-become-a-fully_integrated-steel-manufacturer-1065742.htm|url-status=live}}</ref><ref name="steel4">{{cite web|title=United Steel Industries covers Kuwait's demand for steel -- Chairman|work=[[Kuwait News Agency]]|url=https://www.kuna.net.kw/ArticleDetails.aspx?id=1708673&language=en|date=6 February 2007|access-date=14 June 2021|archive-date=2 October 2022|archive-url=https://web.archive.org/web/20221002224601/https://www.kuna.net.kw/ArticleDetails.aspx?id=1708673&language=en|url-status=live}}</ref><ref name="steel2">{{cite web|title=New rebar capacity coming up in Kuwait|work=Steel Orbis|url=https://www.steelorbis.com/steel-news/latest-news/new-rebar-capacity-coming-up-in-kuwait-1120965.htm|date=19 November 2019|access-date=14 June 2021|archive-date=22 September 2022|archive-url=https://web.archive.org/web/20220922052154/https://www.steelorbis.com/steel-news/latest-news/new-rebar-capacity-coming-up-in-kuwait-1120965.htm|url-status=live}}</ref><ref name="steel3">{{cite web|title=United Steel Industrial Co. (KWTSTEEL)|work=Epicos|url=https://www.epicos.com/company/11120/united-steel-industrial-co-kwtsteel|date=19 August 2019|access-date=14 June 2021|archive-date=27 January 2023|archive-url=https://web.archive.org/web/20230127183806/https://www.epicos.com/company/11120/united-steel-industrial-co-kwtsteel|url-status=live}}</ref> Kuwait is self-sufficient in steel.<ref name="steel1"/><ref name="steel4"/><ref name="steel2"/><ref name="steel3"/>

==Agriculture==
In 2016, Kuwait's food self-sufficiency ratio was 49.5% in vegetables, 38.7% in meat, 12.4% in dairy, 24.9% in fruits, and 0.4% in cereals.<ref name="food_selfsufficient">{{cite web|title=Food self-sufficiency ratio in Kuwait in 2016, by type|work=Statista|url=https://www.statista.com/statistics/678034/kuwait-food-self-sufficiency-ratio-by-type/|date=26 August 2020|access-date=14 June 2021|archive-date=14 June 2021|archive-url=https://web.archive.org/web/20210614174344/https://www.statista.com/statistics/678034/kuwait-food-self-sufficiency-ratio-by-type/|url-status=live}}</ref> 8.5% of Kuwait's entire territory consists of agricultural land, while arable land covers 0.6% of Kuwait's entire territory.<ref name="agri2">{{cite web|author=Choi Moon-hee|title=South Korean Companies Building Smart Farms in the Middle East|work=Business Korea|url=http://www.businesskorea.co.kr/news/articleView.html?idxno=67375|date=18 May 2021|access-date=14 June 2021|archive-date=14 June 2021|archive-url=https://web.archive.org/web/20210614175754/http://www.businesskorea.co.kr/news/articleView.html?idxno=67375|url-status=live}}</ref><ref name="agri3">{{cite web|title=Land use - The World Factbook - CIA|url=https://www.cia.gov/the-world-factbook/field/land-use/|access-date=14 June 2021|archive-date=14 August 2021|archive-url=https://web.archive.org/web/20210814084025/https://www.cia.gov/the-world-factbook/field/land-use|url-status=live}}</ref> Historically, Jahra was a predominantly agricultural area. There are currently various farms in Jahra.<ref>[https://www.aidanbrooks.co.uk/farmers-of-jahra/nyrzyh4fvwxx7o49vf4ynub8vyfbrq Farmers of Jahra]{{Dead link|date=December 2023 |bot=InternetArchiveBot |fix-attempted=yes }}</ref>

In 2017, agriculture (including fisheries) accounted for almost 0.4 percent of the [[gross domestic product]].<ref name="cia.gov"/> Around 4 percent of the economically active population works in agriculture, almost all foreigners.<ref>{{Cite web|url=https://data.worldbank.org/indicator/SL.AGR.EMPL.ZS?name_desc=true|title=Employment in agriculture (% of total employment) (modeled ILO estimate) {{!}} Data|website=data.worldbank.org|language=en-us|access-date=2018-04-24|archive-date=31 July 2020|archive-url=https://web.archive.org/web/20200731015040/https://data.worldbank.org/indicator/SL.AGR.EMPL.ZS?name_desc=true|url-status=live}}</ref> The majority of farm owners are investors.<ref name=":0" /> The total agricultural land covered 1,521&nbsp;km<sup>2</sup> in 2014.<ref name=":0">{{Cite web|url=http://www.fao.org/countryprofiles/index/en/?iso3=KWT|title=general profile|website=Food and Agriculture Organization of the United Nations|language=en|access-date=2018-04-22|archive-date=3 December 2020|archive-url=https://web.archive.org/web/20201203113522/http://www.fao.org/countryprofiles/index/en/?iso3=KWT|url-status=live}}</ref>

The agriculture industry is hampered by the limited water and arable land. The government has experimented in growing food through [[hydroponics]] and carefully managed farms. However, most of the soil which was suitable for farming in south central Kuwait was destroyed when Iraqi troops set fire to oil wells in the area and created vast "oil lakes". Fish and shrimp are plentiful in territorial waters, and largescale [[commercial fishing]] has been undertaken locally and in the [[Indian Ocean]].

==Finance==
Kuwait has a leading position in the financial industry in the GCC.<ref name=wages>{{cite book |url=https://books.google.com/books?id=laODBQAAQBAJ|title=The Wages of Oil: Parliaments and Economic Development in Kuwait and the UAE|editor=Michael Herb|isbn=9780801454684|last1=Herb|first1=Michael|date=18 December 2014|publisher=Cornell University Press }}</ref> The Emir has promoted the idea that Kuwait should focus its energies, in terms of economic development, on the financial industry.<ref name=wages/>

The historical preeminence of Kuwait (among the Gulf monarchies) in finance dates back to the founding of the [[National Bank of Kuwait]] in 1952.<ref name=wages/> The bank was the first local publicly traded corporation in the Gulf.<ref name=wages/> In the late 1970s and early 1980s, an alternative stock market, trading in shares of Gulf companies, emerged in Kuwait, the [[Souk Al-Manakh stock market crash|Souk Al-Manakh]].<ref name=wages/> At its peak, its market capitalization was the third highest in the world, behind only the [[United States|U.S.]] and [[Japan]], and ahead of the [[United Kingdom|UK]] and [[France]].<ref name=wages/>

Kuwait has a large wealth-management industry.<ref name=wages/> Kuwaiti investment companies administer more assets than those of any other GCC country, save the much larger Saudi Arabia.<ref name=wages/> The Kuwait Financial Centre, in a rough calculation, estimated that Kuwaiti firms accounted for over one-third of the total assets under management in the GCC.<ref name=wages/>

The relative strength of Kuwait in the financial industry extends to its stock market.<ref name=wages/> For many years, the total valuation of all companies listed on the Kuwaiti exchange far exceeded the value of those on any other GCC bourse, except Saudi Arabia.<ref name=wages/> In 2011, financial and banking companies made up more than half of the market capitalization of the Kuwaiti bourse; among all the Gulf states, the market capitalization of Kuwaiti financial-sector firms was, in total, behind only that of Saudi Arabia.<ref name=wages/> In recent years, Kuwaiti investment companies have invested large percentages of their assets abroad, and their foreign assets have become substantially larger than their domestic assets.<ref name=wages/>

Kuwait is a major source of foreign economic assistance to other states through the [[Kuwait Fund for Arab Economic Development]], an autonomous state institution created in 1961 on the pattern of Western and international development agencies. Over the years aid was annually provided to Egypt, Syria, and Jordan, as well as the Palestine Liberation Organization. In 1974, the fund's lending mandate was expanded to include all developing countries in the world.

===Reserve funds===
{{main|Kuwait Investment Authority}}
The [[Kuwait Investment Authority]] (KIA) is Kuwait's [[sovereign wealth fund]] specializing in foreign investment. The KIA is the world's oldest sovereign wealth fund. Since 1953, the Kuwaiti government has directed investments into Europe, the United States and the [[Asia–Pacific]]. In 2021, the holdings were valued at around $700 billion in assets.<ref name="swf1"/> It was the [[Sovereign wealth fund#Largest sovereign wealth funds|3rd largest]] sovereign wealth fund in the world.<ref name="swf1">{{cite web|title=SWFI|url=https://www.swfinstitute.org/fund-rankings/sovereign-wealth-fund|date=16 July 2021|access-date=16 July 2021|archive-date=8 May 2020|archive-url=https://web.archive.org/web/20200508173939/https://www.swfinstitute.org/fund-rankings/sovereign-wealth-fund|url-status=live}}</ref><ref name="bloomberg_swf">{{Cite web|url=https://www.bloomberg.com/news/articles/2021-07-02/kuwait-s-life-after-oil-fund-swells-to-a-record-700-billion|title=World's Oldest Wealth Fund Swells to Record and Cracks the Top 3|date=2 July 2021|website=[[Bloomberg News|Bloomberg]]|access-date=16 July 2021|archive-date=26 November 2022|archive-url=https://web.archive.org/web/20221126052253/https://www.bloomberg.com/news/articles/2021-07-02/kuwait-s-life-after-oil-fund-swells-to-a-record-700-billion|url-status=live}}</ref>

The KIA manages two funds: the General Reserve Fund (GRF) and Future Generations Fund (FGF).<ref name="kia">{{cite web|url=http://fletcher.tufts.edu/SWFI-OLD/~/media/Fletcher/Microsites/swfi/pdfs/2012/profiles/KIA%20Fund%20Profile_v2.pdf|title=Fund Profile: Kuwait Investment Authority (KIA)|pages=1–3|access-date=17 August 2014|archive-date=26 December 2013|archive-url=https://web.archive.org/web/20131226152729/https://fletcher.tufts.edu/SWFI-OLD/~/media/Fletcher/Microsites/swfi/pdfs/2012/profiles/KIA%20Fund%20Profile_v2.pdf|url-status=dead}}</ref> The GRF is the main treasurer for the government.<ref name=kia/> It receives all state revenues and all national expenditures are paid out of this fund.<ref name=kia/> The KIA does not disclose its financial assets in public, but it is estimated that the KIA has $410 billion in assets as of February 2014.

The KIA was the main source of capital for the Kuwaiti government during the [[Gulf War]]. The Kuwaiti government relied on the KIA to pay for coalition expenses and postwar reconstruction.<ref>{{cite web
|url=http://www.ideationcenter.com/ideation_research/ideation_article/vital_role_of_sovereign_wealth_funds_in_the_gcc
|title=The Vital Role of Sovereign Wealth Funds in the GCC's Future
|access-date=17 August 2014
|archive-date=19 August 2014
|archive-url=https://web.archive.org/web/20140819091052/http://www.ideationcenter.com/ideation_research/ideation_article/vital_role_of_sovereign_wealth_funds_in_the_gcc
|url-status=dead
}}</ref> The KIA was worth $100 billion prior to 1990, KIA funds were depleted to $40–$50 billion after the Gulf War.

In July 2023, Kuwait plans to create a new sovereign fund, Ciyada, in partnership with the Kuwait Investment Authority (KIA). While the value of the fund has not been specified, the KIA, which currently manages over $800 billion in assets, will play a significant role in studying and implementing the proposed fund. The aim is to develop the local economy, attract foreign investment, and finance major projects to promote economic diversification in Kuwait.<ref>{{Cite news |last= Hagagy |first= Ahmed |date= 2023-07-16 |title= Kuwait to set up new sovereign fund to develop mega projects and local economy |language= en |work= Reuters |url= https://www.reuters.com/world/middle-east/kuwait-set-up-new-sovereign-fund-develop-mega-projects-local-economy-2023-07-16/ |access-date= 2023-07-31 |archive-date= 31 July 2023 |archive-url= https://web.archive.org/web/20230731083812/https://www.reuters.com/world/middle-east/kuwait-set-up-new-sovereign-fund-develop-mega-projects-local-economy-2023-07-16/ |url-status= live }}</ref>

;Future Generations Fund
The Future Generations Fund (FGF) was created in 1976 by transferring 50% from the general reserve fund at that time. The FGF is a saving funds for future generations. 25% of all state revenues are annually transferred to the fund.<ref>{{cite web|url=http://ccsi.columbia.edu/files/2014/04/nrf_Kuwait_September2013_RWI_VCC.pdf|title=Kuwait's Future Generations Fund|pages=2|access-date=17 August 2014|archive-date=19 August 2014|archive-url=https://web.archive.org/web/20140819102844/http://ccsi.columbia.edu/files/2014/04/nrf_Kuwait_September2013_RWI_VCC.pdf|url-status=dead}}</ref>

All of the FGF is invested abroad, with an estimated 75% invested in the US and [[Europe]] and the rest in emerging markets, mainly China and India.

==Health==
{{further|Health in Kuwait}}
Kuwait has a state-funded [[Healthcare in Kuwait|healthcare system]], which provides treatment without charge to Kuwaiti nationals. There are outpatient clinics in every residential area in Kuwait. A public insurance scheme exists to provide reduced cost healthcare to expatriates. Private healthcare providers also run medical facilities in the country, available to members of their insurance schemes. As part of [[Kuwait Vision 2035]], many new hospitals have opened.<ref name="health4" /><ref name="health5" /><ref name=health1>{{cite web|url=https://www.oxfordbusinessgroup.com/analysis/substantial-investment-series-mega-projects-are-set-boost-hospital-capacity|title=Mega-projects boost hospital capacity in Kuwait|work=Oxford Business Group|year=2016|url-status=live|archive-url=https://web.archive.org/web/20161220074237/https://www.oxfordbusinessgroup.com/analysis/substantial-investment-series-mega-projects-are-set-boost-hospital-capacity|archive-date=20 December 2016}}</ref> In the years leading up to the [[COVID-19 pandemic]], Kuwait invested in its health care system at a rate that was proportionally higher than most other GCC countries.<ref name="health3">{{cite web|title=Covid-19 Response Report Kuwait|work=Oxford Business Group|page=6|date=26 March 2021|url=https://oxfordbusinessgroup.com/sites/default/files/blog/specialreports/960401/KISR_CRR_SLIDE.pdf|access-date=26 April 2021|archive-date=26 April 2021|archive-url=https://web.archive.org/web/20210426080818/https://oxfordbusinessgroup.com/sites/default/files/blog/specialreports/960401/KISR_CRR_SLIDE.pdf|url-status=live}}</ref> As a result, the public hospital sector significantly increased its capacity.<ref name="health1" /><ref name="health4">{{cite web|title=Kuwait 2020 Health Infrastructure Report|date=4 April 2020|url=https://www.kuwaitbuildingshow.com/news6|access-date=26 April 2021|archive-date=2 November 2021|archive-url=https://web.archive.org/web/20211102153127/https://www.kuwaitbuildingshow.com/news6|url-status=usurped}}</ref><ref name="health5">{{cite web|title=Healthcare Infrastructure in Kuwait: On Solid Footing|year=2017|url=https://www.arabhealthonline.com/magazine/en/latest-issue/Issue-6/Healthcare-Infrastructure-in-Kuwait-On-Solid-Footing.html|access-date=26 April 2021|archive-date=18 April 2021|archive-url=https://web.archive.org/web/20210418094019/https://www.arabhealthonline.com/magazine/en/latest-issue/Issue-6/Healthcare-Infrastructure-in-Kuwait-On-Solid-Footing.html|url-status=live}}</ref> Kuwait currently has 20 public hospitals.<ref name="health6">{{cite journal|title=Baseline assessment of patient safety culture in public hospitals in Kuwait.|date=March 2018|page=5|journal=[[BMC Health Services Research]]|doi=10.1186/s12913-018-2960-x|issn=1472-6963|volume=18|quote=There are 20 public hospitals in Kuwait, however, we selected 16 hospitals as the remaining facilities had only recently been established and as such did not meet our inclusion criteria as detailed below.|doi-access=free|last1=Ali|first1=Hayfaa|last2=Ibrahem|first2=Samaa Zenhom|last3=Al Mudaf|first3=Buthaina|last4=Al Fadalah|first4=Talal|last5=Jamal|first5=Diana|last6=El-Jardali|first6=Fadi|issue=1|pmid=29510705|pmc=5840785}}</ref><ref name="health5" /> The new Sheikh Jaber Al-Ahmad Hospital is considered the largest hospital in the Middle East.<ref name=health2>{{cite web|url=http://www.arabianbusiness.com/mideast-s-largest-hospital-open-in-kuwait-by-end-of-2016-651711.html|title=MidEast's largest hospital to open in Kuwait by end of 2016|year=2016|url-status=live|archive-url=https://web.archive.org/web/20161213024255/http://www.arabianbusiness.com/mideast-s-largest-hospital-open-in-kuwait-by-end-of-2016-651711.html|archive-date=13 December 2016}}</ref> Kuwait also has 16 private hospitals.<ref name="health4" />

==Entrepreneurship==
In the past five years, there has been a significant rise in [[entrepreneurship]] and small business creation in Kuwait.<ref>{{cite news |first=Naeimah |last=Al-Kharafi |url=http://news.kuwaittimes.net/encouraging-social-entrepreneurship-kuwait-special-report/ |archive-url=https://web.archive.org/web/20141129082746/http://news.kuwaittimes.net/encouraging-social-entrepreneurship-kuwait-special-report/ |url-status=dead |archive-date=2014-11-29 |title=Encouraging social entrepreneurship in Kuwait – Special report |newspaper=Kuwait Times |date=12 October 2014}}</ref><ref>{{cite news |last=Saltzman |first=Jason |url=http://www.entrepreneur.com/article/240022 |title=Keeping Up With Kuwaiti Connection: The Startup Circuit In Kuwait Is Up And At 'Em |magazine=Entrepreneur Middle East |date=11 November 2014 |url-status=live |archive-url=https://web.archive.org/web/20141124080621/http://www.entrepreneur.com/article/240022 |archive-date=24 November 2014 }}</ref> The [[informal sector]] is also on the rise,<ref>{{cite news |first=Jamie |last=Etheridge |url=http://news.kuwaittimes.net/whats-behind-growth-kuwaits-informal-economy/ |archive-url=https://web.archive.org/web/20141129083014/http://news.kuwaittimes.net/whats-behind-growth-kuwaits-informal-economy/ |url-status=dead |archive-date=2014-11-29 |title=What's behind the growth of Kuwait's informal economy |newspaper=Kuwait Times |date=27 February 2014 }}</ref> mainly due to the popularity of Instagram businesses.<ref>{{cite news |last=Greenfield |first=Rebecca |url=http://www.thewire.com/technology/2013/07/kuwait-instagram-accounts-are-big-business/67127/ |archive-url=https://web.archive.org/web/20141129145729/http://www.thewire.com/technology/2013/07/kuwait-instagram-accounts-are-big-business/67127/ |url-status=dead |archive-date=2014-11-29 |title=In Kuwait, Instagram Accounts Are Big Business |newspaper=The Wire: News for the Atlantic |date=12 July 2013}}</ref><ref>{{cite news |last1=Kuo |first1=Lily |last2=Foxman |first2=Simone |url=http://qz.com/104499/a-rising-class-of-instagram-entrepreneurs-in-kuwait-is-selling-comics-make-up-and-sheep/ |title=A rising class of Instagram entrepreneurs in Kuwait is selling comics, makeup and sheep |work=[[Quartz (publication)|Quartz]] |date=16 July 2013 |url-status=live |archive-url=https://web.archive.org/web/20141123114438/http://qz.com/104499/a-rising-class-of-instagram-entrepreneurs-in-kuwait-is-selling-comics-make-up-and-sheep/ |archive-date=23 November 2014 }}</ref><ref>{{cite web |url=http://kottke.org/13/07/kuwaits-booming-instagram-economy |title=Kuwait's booming Instagram economy |website=kottke.org |date=12 July 2013 |url-status=live |archive-url=https://web.archive.org/web/20141129171815/http://kottke.org/13/07/kuwaits-booming-instagram-economy |archive-date=29 November 2014 }}</ref> In 2020, Kuwait ranked fourth in the MENA region in startup funding after the UAE, Egypt and Saudi Arabia.<ref>{{Cite web|title=Kuwait: Crisis Complicates Reform|work=[[Global Finance (magazine)|Global Finance]]|author=Chloe Domat|date=February 2021|url=https://www.gfmag.com/magazine/february-2021/kuwait-crisis-complicates-reform|access-date=4 April 2021|archive-date=29 May 2023|archive-url=https://web.archive.org/web/20230529150616/https://www.gfmag.com/magazine/february-2021/kuwait-crisis-complicates-reform|url-status=live}}</ref>

Many Kuwaiti entrepreneurs use the Instagram-based business model.<ref>{{cite web |first=Yara |last=al-Wazir |url=http://english.alarabiya.net/en/views/business/2014/08/23/How-Kuwaitis-are-Instagramming-a-business-revolution.html |title=How Kuwaitis are Instagramming a business revolution |website=Al Arabiya News |date=23 August 2014 |access-date=29 August 2016 |archive-date=5 August 2020 |archive-url=https://web.archive.org/web/20200805065754/https://english.alarabiya.net/en/views/business/2014/08/23/How-Kuwaitis-are-Instagramming-a-business-revolution.html |url-status=live }}</ref>

==Tourism==
{{further|Tourism in Kuwait}}
[[File:The Palms Beach Hotel & Spa in Kuwait.jpg|thumb|The Palms Beach Hotel & Spa in Kuwait]]
In 2020, Kuwait's domestic travel and tourism spending reached $6.1 billion (up from $1.6 billion in 2019) with family tourism a rapidly growing segment.<ref name="inbound">{{cite web|title=RLA hailed for expertise on Kuwait development|website=Hospitality Net|url=https://www.hospitalitynet.org/news/4103108.html|date=23 February 2021|quote=In 2020, domestic travel and tourism spending for Kuwait reached $6.1bn, up from $1.6bn, with family tourism a rapidly-growing segment.|access-date=14 June 2021|archive-date=14 June 2021|archive-url=https://web.archive.org/web/20210614225407/https://www.hospitalitynet.org/news/4103108.html|url-status=live}}</ref> The [[World Travel and Tourism Council|WTTC]] named Kuwait as one of the world's fastest-growing countries in travel and tourism [[GDP]] in 2019, with 11.6% year-on-year growth.<ref name="inbound"/> In 2016, the tourism industry generated nearly $500&nbsp;million in revenue.<ref>{{cite web|url=http://news.kuwaittimes.net/website/kuwait-tenth-total-arab-countries-tourism-revenue/|title=Kuwait tenth in total Arab countries' tourism revenue|date=27 August 2016|url-status=live|archive-url=https://web.archive.org/web/20160828133633/http://news.kuwaittimes.net/website/kuwait-tenth-total-arab-countries-tourism-revenue/|archive-date=28 August 2016}}</ref> In 2015, tourism accounted for 1.5 percent of the [[GDP]].<ref>{{cite web|url=https://www.wttc.org/-/media/files/reports/economic%20impact%20research/countries%202015/kuwait2015.pdf|title=Travel & Tourism Economic Impact 2015|work=World Travel & Tourism Council|archive-url=https://web.archive.org/web/20161011034315/https://www.wttc.org/-/media/files/reports/economic%20impact%20research/countries%202015/kuwait2015.pdf|archive-date=11 October 2016}}</ref><ref>{{cite web|url=http://www.bq-magazine.com/industries/hospitality/2016/04/kuwaits-investments-in-travel-and-tourism-sector-to-grow-by-4-3-percent-per-annum|title=Kuwait's investments in travel and tourism sector to grow by 4.3% per annum|work=BQ Magazine|archive-url=https://web.archive.org/web/20160921152716/http://www.bq-magazine.com/industries/hospitality/2016/04/kuwaits-investments-in-travel-and-tourism-sector-to-grow-by-4-3-percent-per-annum|archive-date=21 September 2016}}</ref>

In 2023, there was a rise in the spending of Kuwaiti citizens on tourism and travel, recorded to be 4.39 billion dinars, marking an increase of 9.2% from the 4 billion dinars recorded in 2022. The surge in tourism expenditures is largely attributable to the introduction of new travel destinations, expanded offerings from airlines catering to family travel, and an increase in interest in events like the [[Riyadh]] Season and other festivities. The first quarter of 2023 saw the highest spending (1.36 billion dinars), followed by the second (1.01 billion dinars), third (1.15 billion dinars), and the fourth (870 million dinars), making it the year with the highest spending on travel by Kuwaiti citizens since the outbreak of the [[COVID-19 pandemic]]. Moreover, spending by foreign tourists in Kuwait increased by approximately 60%, reaching 533.3 million dinars by the end of 2023, up from 332.6 million dinars in 2022.<ref>{{cite web |date=8 May 2024 |title=Kuwaitis shell out 4.39 billion dinars on travel in 2023 |url=https://www.arabtimesonline.com/news/kuwaitis-shell-out-4-39-billion-dinars-on-travel-in-2023/ |access-date=8 May 2024 |archive-date=8 May 2024 |archive-url=https://web.archive.org/web/20240508121705/https://www.arabtimesonline.com/news/kuwaitis-shell-out-4-39-billion-dinars-on-travel-in-2023/ |url-status=live }}</ref>

The [[Amiri Diwan of Kuwait|Amiri Diwan]] recently inaugurated the new [[Kuwait National Cultural District]] (KNCD), which comprises [[Sheikh Abdullah Al Salem Cultural Centre]], [[Sheikh Jaber Al Ahmad Cultural Centre]], [[Al Shaheed Park]], and [[Al Salam Palace (Kuwait)|Al Salam Palace]].<ref name="kncd2">{{Cite web|url=https://alshaheedparkmuseums.com/kuwait-national-cultural-district/|title=Kuwait National Cultural District|access-date=26 April 2021|archive-date=17 April 2021|archive-url=https://web.archive.org/web/20210417122527/https://alshaheedparkmuseums.com/kuwait-national-cultural-district/|url-status=dead}}</ref><ref name="kncd">{{cite web|url=http://aeminternational.co.uk/wp-content/uploads/2017/02/Director-JACC-Candidate-Briefing-Document.pdf|archive-url=https://web.archive.org/web/20180125015530/http://aeminternational.co.uk/wp-content/uploads/2017/02/Director-JACC-Candidate-Briefing-Document.pdf|url-status=dead|archive-date=2018-01-25|title=Kuwait National Cultural District Museums Director|date=28 August 2017}}</ref> With a capital cost of more than US$1&nbsp;billion, the project is one of the largest cultural investments in the world.<ref name=kncd/> In November 2016, the [[Sheikh Jaber Al Ahmad Cultural Centre]] opened.<ref name="alb">{{cite web|url=http://www.albawaba.com/business/kuwait-unveils-775m-sheikh-jaber-al-ahmad-cultural-centre-912430|title=Kuwait unveils $775M Sheikh Jaber Al Ahmad Cultural Centre|date=7 December 2016|url-status=live|archive-url=https://web.archive.org/web/20161227165043/http://www.albawaba.com/business/kuwait-unveils-775m-sheikh-jaber-al-ahmad-cultural-centre-912430|archive-date=27 December 2016}}</ref> It is the largest cultural centre and opera house in the Middle East.<ref name="newkuwait">{{usurped|1=[https://web.archive.org/web/20210426083940/https://newkuwaitsummit.com/venue Sheikh Jaber Al-Ahmad Cultural Centre]}} New Kuwait.</ref><ref name="omnd">{{cite web|url=http://2016.omandaily.om/?p=402914|archive-url=https://web.archive.org/web/20170829034751/http://2016.omandaily.om/?p=402914|url-status=dead|archive-date=2017-08-29|title=أمير الكويت يدشن أكبر مركز ثقافي في الشرق الأوسط.. و4 جواهر تضيء شاطئ الخليج|work=Oman Daily|language=ar}}</ref> The Kuwait National Cultural District is a member of the [[Global Cultural Districts Network]].<ref name="gcdn">{{cite web|title=Current Members – Global Cultural Districts Network|date=25 September 2017|url=https://gcdn.net/member/the-kuwait-national-cultural-district-test/|publisher=[[Global Cultural Districts Network]]|access-date=26 April 2021|archive-date=21 April 2021|archive-url=https://web.archive.org/web/20210421031046/https://gcdn.net/member/the-kuwait-national-cultural-district-test/|url-status=live}}</ref> The annual "Hala Febrayer" festival attracts tourists from neighboring GCC countries,<ref name="halafeb">{{cite web|url=http://news.kuwaittimes.net/website/hala-february-kicks-off-with-a-bang/|title=Hala February kicks off with a bang|work=Kuwait Times|date=29 January 2016|url-status=live|archive-url=https://web.archive.org/web/20160913192534/http://news.kuwaittimes.net/website/hala-february-kicks-off-with-a-bang/|archive-date=13 September 2016}}</ref> and includes a variety of events including music concerts, parades, and carnivals.<ref name=halafeb/><ref>{{cite web|url=http://www.albawaba.com/business/pr/hala-febrayer-2016-carnival-attracts-thousands-participants-808956|title=Hala Febrayer 2016 Carnival attracts thousands of participants|work=Al Bawaba|url-status=live|archive-url=https://web.archive.org/web/20160911104642/http://www.albawaba.com/business/pr/hala-febrayer-2016-carnival-attracts-thousands-participants-808956|archive-date=11 September 2016}}</ref><ref>{{cite web|url=http://ameinfo.com/technology/telecom/ooredoo-sponsors-kuwaits-biggest-annual-festival/|title=Ooredoo Sponsors Kuwait's Biggest Annual Festival|date=17 January 2016|url-status=live|archive-url=https://web.archive.org/web/20161011005713/http://ameinfo.com/technology/telecom/ooredoo-sponsors-kuwaits-biggest-annual-festival/|archive-date=11 October 2016}}</ref> The festival is a month-long commemoration of the [[liberation of Kuwait]], and runs from 1 to 28 February. [[Liberation Day]] itself is celebrated on 26 February.<ref>{{Cite news |url=http://news.kuwaittimes.net/website/flag-hoisting-ceremony-signals-start-kuwait-national-celebrations-2017/ |title=Flag-hoisting ceremony signals start of Kuwait national celebrations of 2017 |date=3 February 2017 |newspaper=[[Kuwait Times]] |access-date=25 February 2017 |archive-url=https://web.archive.org/web/20170203194108/http://news.kuwaittimes.net/website/flag-hoisting-ceremony-signals-start-kuwait-national-celebrations-2017/ |archive-date=3 February 2017}}</ref>

==Science and technology==
According to the [[United States Patent and Trademark Office]], Kuwait registered 448 [[patents]] as of 31 December 2015,<ref name="uspto">{{cite web|url=http://www.uspto.gov/web/offices/ac/ido/oeip/taf/cst_all.htm|title=Patents By Country, State, and Year – All Patent Types|work=[[United States Patent and Trademark Office]]|access-date=12 March 2016|url-status=live|archive-url=https://web.archive.org/web/20160303212346/http://www.uspto.gov/web/offices/ac/ido/oeip/taf/cst_all.htm|archive-date=3 March 2016}}</ref><ref>{{cite web|url=https://www.zawya.com/story/Arab_World_to_have_more_than_197_million_Internet_users_by_2017_according_to_Arab_Knowledge_Economy_Report-ZAWYA20140527111931/|title=Arab World to have more than 197 million Internet users by 2017, according to Arab Knowledge Economy Report|archive-url=https://web.archive.org/web/20141129035613/https://www.zawya.com/story/Arab_World_to_have_more_than_197_million_Internet_users_by_2017_according_to_Arab_Knowledge_Economy_Report-ZAWYA20140527111931/|archive-date=29 November 2014|quote=To date, the United States Patent and Trademark Office (USPTO) have granted 858 patents to the Kingdom of Saudi Arabia, positioning it 29th in the world. Kuwait is at second place with 272 patents and Egypt at third with 212 patents, so far}}</ref><ref name="orient">{{cite web|url=http://www.orientplanet.com/akereport2014.pdf|title=Arab Economy Knowledge Report 2014|pages=20–22|archive-url=https://web.archive.org/web/20141129050446/http://www.orientplanet.com/akereport2014.pdf|archive-date=29 November 2014}}</ref><ref>{{cite web|url=http://www.unesco.org/new/fileadmin/MULTIMEDIA/HQ/SC/pdf/sc_usr05_arab_en.pdf|title=UNESCO Science Report 2005|page=162|url-status=live|archive-url=https://web.archive.org/web/20141207161411/http://www.unesco.org/new/fileadmin/MULTIMEDIA/HQ/SC/pdf/sc_usr05_arab_en.pdf|archive-date=7 December 2014}}</ref> In the early to mid 2010s, Kuwait registered the largest number of scientific publications and patents per capita regionally.<ref name="gain"/><ref>{{cite web|url=https://www.unescwa.org/sites/www.unescwa.org/files/publications/files/ictd-09-12.pdf|title=Regional Profile of the Information Society in Western Asia|page=53|url-status=live|archive-url=https://web.archive.org/web/20170822095646/https://www.unescwa.org/sites/www.unescwa.org/files/publications/files/ictd-09-12.pdf|archive-date=22 August 2017}}</ref><ref>{{cite web|url=http://www.unesco.org/new/fileadmin/MULTIMEDIA/HQ/SC/pdf/sc_usr10_arab_states_EN.pdf|title=Arab states|pages=264–265|url-status=live|archive-url=https://web.archive.org/web/20161011010006/http://www.unesco.org/new/fileadmin/MULTIMEDIA/HQ/SC/pdf/sc_usr10_arab_states_EN.pdf|archive-date=11 October 2016}}</ref><ref>{{cite web|url=http://www.sesrtcic.org/files/article/274.pdf|title=Science and Technology in the OIC Member Countries|page=7|url-status=usurped|archive-url=https://web.archive.org/web/20141220061847/http://www.sesrtcic.org/files/article/274.pdf|archive-date=20 December 2014}}</ref><ref name="mit">{{cite web|url=http://technologyreview.me/en/business/mixed-bag-scientific-commitment/ |title=A Mixed Bag of Scientific Commitment |work=[[MIT Technology Review]] |access-date=12 March 2016 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20160713142758/http://technologyreview.me/en/business/mixed-bag-scientific-commitment/ |archive-date=13 July 2016 }}</ref> The Kuwaiti government has implemented various programs to foster innovation resulting in patent rights.<ref name="gain">{{cite web|url=https://finance.yahoo.com/news/kuwait-sees-fastest-growth-gcc-140500793.html|title=Kuwait Sees Fastest Growth of GCC Countries in Obtaining U.S. Patents|work=[[Yahoo News]]|date=12 December 2013 |access-date=12 March 2016|url-status=live|archive-url=https://web.archive.org/web/20160409143121/http://finance.yahoo.com/news/kuwait-sees-fastest-growth-gcc-140500793.html|archive-date=9 April 2016}}</ref><ref name=mit/>  The WIPO [[Global Innovation Index]] found that Kuwait ranks 71st over 139 (for its innovation efficiency ratio (which shows how much innovation output a country is getting for its inputs).<ref name="patent20">{{cite web|title=Analysis of Patenting in Kuwait|work=KFAS|date=August 2020|url=https://www.kfas.org/media(MediaArchive:1370af6c-1f20-4549-93a3-5be5deef1d5f)|page=5|access-date=5 January 2024|archive-date=5 January 2024|archive-url=https://web.archive.org/web/20240105000031/https://www.kfas.org/media(MediaArchive:1370af6c-1f20-4549-93a3-5be5deef1d5f)|url-status=live}}</ref><ref>{{cite book|url=https://www.wipo.int/web-publications/global-innovation-index-2024/en/|title=Global Innovation Index 2024. Unlocking the Promise of Social Entrepreneurship|access-date=2024-10-22|author=[[World Intellectual Property Organization]]|year=2024|isbn=978-92-805-3681-2|doi= 10.34667/tind.50062|website=www.wipo.int|location=Geneva|page=18}}</ref>

Kuwait was the first country in the region to implement [[5G]] technology.<ref name="5g">{{cite web|title=5G's role in transforming Kuwait into a digital economy|date=25 January 2021|url=https://www.analysysmason.com/research/content/white-papers/5g-kuwait-digital-rma18-rdrk0/|work=Analysys Mason|access-date=26 April 2021|archive-date=8 April 2024|archive-url=https://web.archive.org/web/20240408001700/https://www.analysysmason.com/research/content/white-papers/5g-kuwait-digital-rma18-rdrk0/|url-status=live}}</ref> Kuwait is among the world's leading countries in 5G penetration.<ref name="5g" /><ref name="5gkw">{{cite web|url=https://www.realwire.com/releases/UK-ranked-sixth-in-global-5G-market-according-to-OMDIA|date=4 June 2020|title=UK ranked sixth in global 5G market, according to OMDIA|work=RealWire|access-date=26 April 2021|archive-date=8 April 2024|archive-url=https://web.archive.org/web/20240408001756/https://www.3blmedia.com/|url-status=live}}</ref> The Chinese company [[Huawei]] has a $1.7 billion investment license in Kuwait to develop the country's ICT sector in line with the Kuwait Vision 2035 strategy.<ref name="huawei">{{cite web|url=https://www.wamda.com/2017/07/internet-things-rising-kuwait|title=The internet of things is rising in Kuwait|date=11 July 2017|author=Rana Freifer|website=Wamda|access-date=17 July 2021|archive-date=17 July 2021|archive-url=https://web.archive.org/web/20210717030938/https://www.wamda.com/2017/07/internet-things-rising-kuwait|url-status=live}}</ref>

===Space===
[[File:Ksr circle.png|thumb|220x220px|[[Kuwait Space Rocket]]]]
Kuwait has an emerging space industry driven by the [[private sector]].<ref name="space">{{cite web|title=The Emerging Space Industry in Kuwait|work=Euro-Gulf Information Centre|date=1 February 2021|url=https://www.egic.info/emerging-space-industry-kuwait|access-date=9 May 2021|archive-date=9 May 2021|archive-url=https://web.archive.org/web/20210509034000/https://www.egic.info/emerging-space-industry-kuwait|url-status=live}}</ref>

;Kuwait's first satellite 
Kuwait's Orbital Space in collaboration with the Space Challenges Program<ref>{{Cite web|title=Space Challenges Program {{!}} www.spaceedu.net|url=https://www.spaceedu.net/|access-date=7 August 2020|website=Space Challenges|language=en-US|archive-date=4 August 2020|archive-url=https://web.archive.org/web/20200804224112/https://www.spaceedu.net/|url-status=live}}</ref> and [[EnduroSat]]<ref>{{Cite web|title=EnduroSat – Class-leading CubeSat Modules, NanoSats & Space Services|url=https://www.endurosat.com/|access-date=7 August 2020|website=CubeSat by EnduroSat|language=en-US|archive-date=7 August 2020|archive-url=https://web.archive.org/web/20200807030125/https://www.endurosat.com/|url-status=live}}</ref> introduced an international initiative called "Code in Space". The initiative allows students from around the world to send and execute their own code in space.<ref>{{Cite web|title=Code In Space!|url=https://www.orbital-space.com/codeinspace|access-date=7 August 2020|website=ORBITAL SPACE|language=en|archive-date=3 December 2020|archive-url=https://web.archive.org/web/20201203101132/https://www.orbital-space.com/codeinspace|url-status=dead}}</ref> The code is transmitted from a satellite ground station to a [[CubeSat|cubesat]] ([[Small satellite|nanosatellite]]) orbiting Earth {{cvt|500|km}} above sea level. The code is then executed by the satellite's onboard computer and tested under real space environment conditions. The nanosatellite is called "QMR-KWT" (Arabic: قمر الكويت) which means "Moon of Kuwait", translated from Arabic.<ref name="first_satellite2">{{Cite web|date=10 June 2021|title=Orbital Space confirms June 24 launch date for Kuwait's first CubeSat|url=https://arabspacenews.com/cubesat/|archive-url=https://web.archive.org/web/20210613075750/https://arabspacenews.com/cubesat/|url-status=dead|archive-date=2021-06-13|website=Arab Space News|language=en-US}}</ref>

QMR-KWT launched to space on 30 June 2021<ref name="first_satellite">{{Cite web|url=https://www.kuna.net.kw/ArticleDetails.aspx?id=2985865|title=Kuwait's first Satellite launched into space|date=30 June 2021|website=[[Kuwait News Agency]]|access-date=1 July 2021|archive-date=30 June 2021|archive-url=https://web.archive.org/web/20210630233816/https://www.kuna.net.kw/ArticleDetails.aspx?id=2985865|url-status=live}}</ref> on [[SpaceX]] [[Falcon 9 Block 5]] rocket and was part of the payload of a satellite carrier called ION SCV Dauntless David by D-Orbit.<ref>{{Cite web|title=D-Orbit's Coming Up With A WILD RIDE Via Their ION Satellite Carrier – SatNews|url=https://news.satnews.com/2021/05/31/d-orbits-coming-up-with-a-wild-ride-via-their-ion-satellite-carrier/|access-date=2021-09-23|website=news.satnews.com|archive-date=22 September 2021|archive-url=https://web.archive.org/web/20210922212732/https://news.satnews.com/2021/05/31/d-orbits-coming-up-with-a-wild-ride-via-their-ion-satellite-carrier/|url-status=live}}</ref> It was deployed into its final orbit ([[Sun-synchronous orbit]]) on 16 July 2021.<ref>{{Cite web|title=WILD RIDE MISSION UPDATES|url=https://www.dorbit.space/wildride-mission-updates|access-date=2021-09-23|website=D-Orbit|language=en|archive-date=16 October 2021|archive-url=https://web.archive.org/web/20211016065419/https://www.dorbit.space/wildride-mission-updates|url-status=live}}</ref> QMR-KWT is Kuwait's first satellite.<ref name="first_satellite"/><ref>{{Cite web|date=16 June 2020|title=Momentus and EnduroSat sign two launch agreements|url=https://spacenews.com/momentus-endurosat-contract/|access-date=7 August 2020|website=SpaceNews|language=en-US}}</ref><ref name="first_satellite2"/>

;Um Alaish 4
Seven years after the launch of the world's first communications satellite, [[Telstar 1]], Kuwait in October 1969 inaugurated the first satellite ground station in the Middle East, "Um Alaish".<ref>{{Cite web|last=Kuwait News Agency|first=KUNA|date=28 October 2001|title=UM AL-AISH" SATELLITE STATION, THE FIRST IN THE MIDDLE EAST|url=https://www.kuna.net.kw/ArticleDetails.aspx?language=en&id=1202610|access-date=7 August 2020|archive-date=3 December 2020|archive-url=https://web.archive.org/web/20201203103659/https://www.kuna.net.kw/ArticleDetails.aspx?language=en&id=1202610|url-status=live}}</ref> The Um Alaish satellite station complex housed several satellite ground stations including Um Alaish 1 (1969), Um Alaish 2 (1977), and Um Alaish 3 (1981). It provided satellite communication services in Kuwait until 1990 when it was destroyed by the Iraqi armed forces during the Iraqi invasion of Kuwait.<ref>{{Cite web|title=Kuwait scraps obsolete satellite station|url=https://www.arabianbusiness.com/kuwait-scraps-obsolete-satellite-station-41095.html|access-date=7 August 2020|website=ArabianBusiness.com|language=en|archive-date=9 July 2021|archive-url=https://web.archive.org/web/20210709182530/https://www.arabianbusiness.com/kuwait-scraps-obsolete-satellite-station-41095.html|url-status=live}}</ref> In 2019, Kuwait's Orbital Space established an amateur satellite ground station to provide free access to signals from satellites in orbit passing over Kuwait. The station was named Um Alaish 4 to continue the legacy of "Um Alaish" satellite station.<ref>{{Cite web|title=Um AlAish 4|url=https://www.orbital-space.com/qmrkwt|access-date=7 August 2020|website=ORBITAL SPACE|language=en|archive-date=3 December 2020|archive-url=https://web.archive.org/web/20201203101652/https://www.orbital-space.com/qmrkwt|url-status=dead}}</ref> Um Alaish 4 is member of FUNcube distributed [[ground station]] network<ref>{{Cite web|title=Ranking · AMSAT-UK Data Warehouse|url=http://warehouse.funcube.org.uk/ranking|access-date=7 August 2020|website=warehouse.funcube.org.uk|archive-date=5 February 2021|archive-url=https://web.archive.org/web/20210205130632/http://warehouse.funcube.org.uk/ranking|url-status=live}}</ref> and the Satellite Networked Open Ground Station project ([[SatNOGS]]).<ref>{{Cite web|title=SatNOGS Network – Ground Station Um Alaish 4|url=https://network.satnogs.org/stations/579/|access-date=7 August 2020|website=network.satnogs.org|archive-date=23 September 2020|archive-url=https://web.archive.org/web/20200923152543/https://network.satnogs.org/stations/579/|url-status=live}}</ref>

;Kuwait Space Rocket
{{Main|Kuwait Space Rocket}}
The [[Kuwait Space Rocket]] (KSR) is a Kuwaiti project to build and launch the first [[suborbital spaceflight|suborbital]] [[Liquid-propellant rocket|liquid bi-propellant rocket]]<!-- Note: "Bipropellant rocket" redirects to the same target article
 --> in [[Arabia]].<ref>{{Cite web|url=https://www.kuna.net.kw/ArticleDetails.aspx?id=2747736&language=en|title=Kuwaiti youth eager to put country on space exploration map|date=2018-09-24|website=[[Kuwait News Agency]] (KUNA)|access-date=14 February 2020|archive-date=28 April 2021|archive-url=https://web.archive.org/web/20210428021039/https://www.kuna.net.kw/ArticleDetails.aspx?id=2747736&language=en|url-status=live}}</ref> The project is divided into two phases with two separate vehicles: an initial testing phase with KSR-1 as a [[test article (aerospace)|test vehicle]] capable of reaching an altitude of {{cvt|8|km}} and a more expansive suborbital test phase with the KSR-2 planned to fly to an altitude of {{cvt|100|km}}.<ref>{{Cite web|url=http://al-seyassah.com/%D9%86%D8%A7%D8%B5%D8%B1-%D8%A3%D8%B4%D9%83%D9%86%D8%A7%D9%86%D9%8A-%D9%84%D9%80%D8%A7%D9%84%D8%B3%D9%8A%D8%A7%D8%B3%D8%A9-%D8%B5%D8%A7%D8%B1%D9%88%D8%AE-%D9%81%D8%B6%D8%A7%D8%A6%D9%8A-%D9%83/|title=ناصر أشكناني لـ"السياسة": صاروخ فضائي كويتي يضعنا في الدول المتقدمة|website=السياسة جريدة كويتية يومية {{!}} Al SEYASSAH Newspaper|archive-url=https://web.archive.org/web/20200212202244/http://al-seyassah.com/%D9%86%D8%A7%D8%B5%D8%B1-%D8%A3%D8%B4%D9%83%D9%86%D8%A7%D9%86%D9%8A-%D9%84%D9%80%D8%A7%D9%84%D8%B3%D9%8A%D8%A7%D8%B3%D8%A9-%D8%B5%D8%A7%D8%B1%D9%88%D8%AE-%D9%81%D8%B6%D8%A7%D8%A6%D9%8A-%D9%83/|language=ar|access-date=2020-02-14|archive-date=12 February 2020|url-status=dead}}</ref>

;TSCK experiment in space
Kuwait's Orbital Space in collaboration with the [[Kuwait Scientific Center]] (TSCK) introduced for the first time in Kuwait the opportunity for students to send a science experiment to space. The objectives of this initiative was to allow students to learn about (a) how science space missions are done; (b) [[Micro-g environment|microgravity]] (weightlessness) environment; (c) how to do science like a real scientist. This opportunity was made possible through Orbital Space agreement with [[DreamUp]] PBC and [[NanoRacks|Nanoracks]] LLC, which are collaborating with [[NASA]] under a Space Act Agreement.<ref>{{Cite web|title=Space Month|url=https://services.tsck.org.kw/space/CompetitionDetails.aspx|access-date=2021-03-01|website=services.tsck.org.kw|archive-date=9 July 2021|archive-url=https://web.archive.org/web/20210709181825/https://services.tsck.org.kw/space/CompetitionDetails.aspx|url-status=dead}}</ref> The students' experiment was named "Kuwait’s Experiment: E.coli Consuming Carbon Dioxide to Combat Climate Change".<ref>{{Cite web|title=ExperimentsInSpace|url=https://www.orbital-space.com/experiment-in-space|access-date=2021-03-01|website=Orbital Space|language=en|archive-date=22 April 2021|archive-url=https://web.archive.org/web/20210422162443/https://www.orbital-space.com/experiment-in-space|url-status=dead}}</ref> The experiment was launched on [[SpaceX CRS-21]] (SpX-21) spaceflight to the [[International Space Station]] (ISS) on 6 December 2020. Astronauts [[Shannon Walker]] (member of the ISS [[Expedition 64]]) conducted the experiment on behalf of the students.

;National satellite project
In July 2021, Kuwait University announced that it is launching a national satellite project as part of state-led efforts to pioneer the country's sustainable space sector.<ref name="national_satellite">{{Cite web|url=https://www.kuna.net.kw/ArticleDetails.aspx?id=2988219&language=en|title=Kuwait University reveals work for sustainable space sector|date=12 July 2021|website=[[Kuwait News Agency]]|access-date=16 July 2021|archive-date=16 July 2021|archive-url=https://web.archive.org/web/20210716032617/https://www.kuna.net.kw/ArticleDetails.aspx?id=2988219&language=en|url-status=live}}</ref><ref name="national_satellite2">{{Cite web|title=تمديد التسجيل للدفعة 2 في مشروع القمر الاصطناعي الكويتي إلى 15 الجاري|url=https://www.alanba.com.kw/ar/kuwait-news/1057147/13-07-2021-%D8%AA%D9%85%D8%AF%D9%8A%D8%AF-%D8%A7%D9%84%D8%AA%D8%B3%D8%AC%D9%8A%D9%84-%D9%84%D9%84%D8%AF%D9%81%D8%B9%D8%A9-%D9%85%D8%B4%D8%B1%D9%88%D8%B9-%D8%A7%D9%84%D9%82%D9%85%D8%B1-%D8%A7%D9%84%D8%A7%D8%B5%D8%B7%D9%86%D8%A7%D8%B9%D9%8A-%D8%A7%D9%84%D9%83%D9%88%D9%8A%D8%AA%D9%8A-%D8%A5%D9%84%D9%89-%D8%A7%D9%84%D8%AC%D8%A7%D8%B1%D9%8A/|date=13 July 2021|website=Al-Anba|language=Arabic|access-date=23 July 2021|archive-date=16 July 2021|archive-url=https://web.archive.org/web/20210716073614/https://www.alanba.com.kw/ar/kuwait-news/1057147/13-07-2021-%D8%AA%D9%85%D8%AF%D9%8A%D8%AF-%D8%A7%D9%84%D8%AA%D8%B3%D8%AC%D9%8A%D9%84-%D9%84%D9%84%D8%AF%D9%81%D8%B9%D8%A9-%D9%85%D8%B4%D8%B1%D9%88%D8%B9-%D8%A7%D9%84%D9%82%D9%85%D8%B1-%D8%A7%D9%84%D8%A7%D8%B5%D8%B7%D9%86%D8%A7%D8%B9%D9%8A-%D8%A7%D9%84%D9%83%D9%88%D9%8A%D8%AA%D9%8A-%D8%A5%D9%84%D9%89-%D8%A7%D9%84%D8%AC%D8%A7%D8%B1%D9%8A/|url-status=live}}</ref>

==Transport==
{{Main|Transport in Kuwait}}
[[File:Kuwait highway.jpg|thumb|300px|A highway in Kuwait City]]

Kuwait has a modern network of [[highway]]s. Roadways extended {{convert|5749|km|0|abbr=on}}, of which {{convert|4887|km|0|abbr=on}} is paved. There are more than 2 million passenger cars, and 500,000 commercial taxis, buses, and trucks in use. On major highways the maximum speed is {{convert|120|km/h|0|abbr=on}}. Since there is no railway system in the country, most people travel by automobiles.

The country's public transportation network consists almost entirely of bus routes. The state owned Kuwait Public Transportation Company was established in 1962. It runs local bus routes across Kuwait as well as longer distance services to other Gulf states.<ref name=KPTC>{{cite web|url=http://www.kptc.com.kw/newenglish/index.html|title=Public Transport Services|publisher=Kuwait Public Transportation Company|access-date=17 March 2015|archive-date=24 October 2016|archive-url=https://web.archive.org/web/20161024025550/http://kptc.com.kw/newenglish/index.html|url-status=dead}}</ref> The main private bus company is CityBus, which operates about 20 routes across the country. Another private bus company, Kuwait Gulf Link Public Transport Services, was started in 2006. It runs local bus routes across Kuwait and longer distance services to neighbouring Arab countries.<ref name=KGL>{{cite web|url=http://www.kglpts.com|title=Public Transport Services|publisher=KGL|url-status=dead|archive-url=https://web.archive.org/web/20110202091806/http://www.kglpts.com/|archive-date=2 February 2011}}</ref>

There are two airports in Kuwait. [[Kuwait International Airport]] serves as the principal hub for international air travel. State-owned [[Kuwait Airways]] is the largest airline in the country. A portion of the airport complex is designated as Al Mubarak Air Base, which contains the headquarters of the [[Kuwait Air Force]], as well as the Kuwait Air Force Museum. In 2004, the first private airline of Kuwait, [[Jazeera Airways]], was launched.<ref>{{cite web|url=http://seattletimes.nwsource.com/html/businesstechnology/2002594401_kuwait31.html|title=First flight for Kuwait's Jazeera Airways|work=[[The Seattle Times]]|date=31 October 2005|access-date=29 August 2016|archive-date=21 December 2011|archive-url=https://web.archive.org/web/20111221124401/http://seattletimes.nwsource.com/html/businesstechnology/2002594401_kuwait31.html|url-status=live}}</ref> In 2005, the second private airline, [[Wataniya Airways]] was founded.

Kuwait has one of the largest shipping industries in the region. The Kuwait Ports Public Authority manages and operates ports across Kuwait. The country's principal commercial seaports are [[Shuwaikh]] and Shuaiba which handled combined cargo of 753,334 TEU in 2006.<ref>{{cite web|url=http://www.arabianbusiness.com/13916-kuwaits-ports-continue-to-break-records-|title=Kuwait's ports continue to break records – Transportation|work=ArabianBusiness.com|date=4 June 2007|access-date=28 June 2015|archive-date=5 August 2020|archive-url=https://web.archive.org/web/20200805074256/https://www.arabianbusiness.com/13916-kuwaits-ports-continue-to-break-records-|url-status=live}}</ref> Mina Al-Ahmadi, the largest port in the country, handles most of Kuwait's oil exports.<ref>{{cite web|author=John Pike|url=http://www.globalsecurity.org/military/facility/mina-al-ahmadi.htm|title=Mina Al Ahmadi, Kuwait|work=Globalsecurity.org|access-date=28 June 2015|archive-date=26 January 2021|archive-url=https://web.archive.org/web/20210126022357/https://www.globalsecurity.org/military/facility/mina-al-ahmadi.htm|url-status=live}}</ref> [[Mubarak Al Kabeer Port]] in [[Bubiyan Island]] is currently under construction. The port is expected to handle 2 million [[Twenty-foot equivalent unit|TEU]] when operations start.

== Macro-economic ==
The following table shows the main economic indicators in 1995–2024.<ref>{{Cite web |title=Edit/Review Countries |url=https://www.imf.org/en/Publications/WEO/weo-database/2024/October/select-countries?grp=2001&sg=All%20countries |access-date=2025-01-25 |website=IMF |language=en}}</ref>
{| class="wikitable" style="text-align:center; vertical-align:middle;"
|- style="font-weight:bold;"
! Year
! GDP<br />(in billion US$ PPP)
! GDP per capita<br />(in US$ PPP)
!GDP<br />(in billion US$ nominal)
!GDP per capita<br />(in US$ nominal)
! GDP growth<br />(real)
! Gov. debt<br />(Percentage of GDP)
|-
|1995
|64.3
|35,659
|27.2
|15,088
|1.7%
|34.9%
|-
|1996
|65.8
|34,744
|31.5
|16,623
|0.6%
|26.5%
|-
|1997
|68.6
|34,663
|30.4
|15,330
|2.5%
|24.3%
|-
|1998
|71.9
|35,484
|25.9
|12,797
|3.7%
|25.6%
|-
|1999
|71.6
|33,999
|30.1
|14,297
|−1.8%
|25.5%
|-
|2000
|76.7
|35,873
|37.7
|17,639
|4.7%
|21.4%
|-
|2001
|78.6
|36,010
|34.9
|15,993
|0.2%
|23.0%
|-
|2002
|82.2
|36,350
|38.1
|16,857
|3.0%
|21.3%
|-
|2003
|98.4
|42,303
|47.9
|20,585
|17.3%
|17.2%
|-
|2004
|111.4
|46,584
|59.4
|24,864
|10.2%
|13.9%
|-
|2005
|127.0
|56,588
|80.8
|35,991
|10.6%
|10.2%
|-
|2006
|140.8
|60,477
|101.5
|43,618
|7.5%
|7.8%
|-
|2007
|153.3
|63,579
|114.6
|47,539
|6.0%
|7.0%
|-
|2008
|160.1
|57,636
|147.4
|53,059
|2.5%
|5.4%
|-
|2009
|149.7
|53,888
|106.0
|38,156
|−7.1%
|6.7%
|-
|2010
|147.9
|50,429
|115.4
|39,342
|−2.4%
|6.2%
|-
|2011
|165.5
|50,979
|154.0
|47,440
|9.6%
|4.6%
|-
|2012
|179.8
|52,446
|174.1
|50,784
|6.6%
|3.6%
|-
|2013
|184.9
|51,538
|174.2
|48,544
|1.1%
|3.1%
|-
|2014
|189.1
|50,508
|162.7
|43,459
|0.5%
|3.4%
|-
|2015
|192.0
|48,904
|114.6
|29,195
|0.6%
|4.6%
|-
|2016
|199.5
|48,857
|109.4
|26,796
|2.9%
|9.9%
|-
|2017
|193.5
|45,771
|120.7
|28,552
|−4.7%
|19.6%
|-
|2018
|222.1
|50,248
|138.7
|31,369
|2.7%
|14.3%
|-
|2019
|225.2
|50,451
|140.9
|31,550
|2.3%
|10.5%
|-
|2020
|182.4
|42,076
|111.0
|25,611
|−4.8%
|10.2
|-
|2021
|221.0
|52,420
|148.5
|35,205
|2.3%
|7.2%
|-
|2022
|250.7
|52,296
|184.0
|38,380
|5.9%
|2.9%
|-
|2023
|250.2
|50,933
|163.7
|33,321
|−3.6%
|3.2%
|-
|2024
|249.3
|49,736
|161.8
|32,290
|−2.7%
|7.2%
|}

In 2019, Kuwait's main export products were mineral fuels including oil (89.1% of total exports), aircraft and spacecraft (4.3%), organic chemicals (3.2%), plastics (1.2%), iron and steel (0.2%), gems and precious metals (0.1%), machinery including computers (0.1%), aluminum (0.1%), copper (0.1%), and salt, sulphur, stone and cement (0.1%).<ref name=exports>{{cite web|url=https://www.worldstopexports.com/kuwaits-top-10-exports/|title=Kuwait's Top 10 Exports|access-date=16 June 2021|archive-date=21 September 2022|archive-url=https://web.archive.org/web/20220921211618/https://www.worldstopexports.com/kuwaits-top-10-exports/|url-status=live}}</ref> Kuwait was the world's biggest exporter of sulfonated, nitrated and nitrosated hydrocarbons in 2019.<ref name=exports1>{{cite web|url=https://oec.world/en/profile/country/kwt|title=Kuwait|website=The Observatory of Economic Complexity|access-date=16 June 2021|archive-date=15 March 2023|archive-url=https://web.archive.org/web/20230315031328/https://oec.world/en/profile/country/kwt|url-status=live}}</ref> Kuwait was ranked 63rd out of 157 countries in the 2019 [[Economic Complexity Index]] (ECI).<ref name=exports1/> [[Iraq]] was Kuwait's leading export market in 2019 and food/agricultural products accounted for 94.2% of total export commodities.<ref name=hktdc>{{cite web|url=https://research.hktdc.com/en/article/MzU3OTgyNjcw|title=Kuwait: Market Profile|date=30 April 2021|website=[[Hong Kong Trade Development Council]]|access-date=23 October 2021|archive-date=20 September 2022|archive-url=https://web.archive.org/web/20220920170940/https://research.hktdc.com/en/article/MzU3OTgyNjcw|url-status=live}}</ref>

According to data from the Civil Service Commission (CSC), the level of joblessness amongst the Kuwaiti population continues to rise annually as of 2024.<ref name=":1">{{Cite web |date=2024-05-05 |title='Joblessness in Kuwaitis keeps rising yearly' |url=https://www.arabtimesonline.com/news/joblessness-in-kuwaitis-keeps-rising-yearly/ |access-date=2024-05-08 |website=ARAB TIMES - KUWAIT NEWS |language=en-US |archive-date=8 May 2024 |archive-url=https://web.archive.org/web/20240508123111/https://www.arabtimesonline.com/news/joblessness-in-kuwaitis-keeps-rising-yearly/ |url-status=live }}</ref> This is predominately due to a surplus of graduates in fields that lack demand within the workforce, as well as a discrepancy between labor market requirements and the skills obtained through certain specializations. Additional issues contributing to the unemployment rate include a lack of emphasis on the private sector and insufficient coordination among related authorities. Until substantial changes are made regarding the quality of educational outputs, the number of graduates in less required fields is likely to keep rising, further exacerbating unemployment issues.<ref name=":1" /> Statistics from the Central Statistics Bureau as of November 19, 2023 indicate that there are 8,727 unemployed Kuwaitis, including 4,177 males (approximately 48 percent) and 4,550 females (approximately 52 percent).<ref name=":1" />

According to recent statistics released by the Central Statistics Bureau, the population of Kuwait rose to 4.91 million on January 1, 2024 — an increase of 119,700 from 2024's 4.79 million population. The number of Kuwaiti citizens increased by 28,700, totaling 1.545 million, an increase from the 1.517 million figure from the start of 2023. Notably, the number of male citizens reached 758,700 and female citizens rose to 787,000 in January 2024. Additionally, the expatriate population witnessed a rise by 90,990, reaching 3.36 million, among which the male expatriates accounted for 2.26 million and female expatriates stood at 1.1 million in the same period.<ref>{{Cite web |date=2024-05-08 |title=Kuwait population hits 4.91 mn, compared to 4.79 mn in '23 |url=https://www.arabtimesonline.com/news/kuwait-population-hits-4-91-mn-on-jan-1-compared-to-4-79-mn-in-23/ |access-date=2024-05-08 |website=Arab Times Online |archive-date=8 May 2024 |archive-url=https://web.archive.org/web/20240508115629/https://www.arabtimesonline.com/news/kuwait-population-hits-4-91-mn-on-jan-1-compared-to-4-79-mn-in-23/ |url-status=live }}</ref>

==See also==
* [[Energy in Kuwait]]
* [[Telecommunications in Kuwait]]
* [[List of companies of Kuwait]]

==References==
{{Reflist}}

==External links==
* [http://www.kia.gov.kw Kuwait Investment Authority]
* [https://web.archive.org/web/20070331153442/http://www.kia.gov.kw/NR/exeres/73CF85E2-0C5A-4060-B94B-54E2D9EDA231.htm Kuwait Investment Office]

{{Kuwait topics}}
{{OPEC}}
{{World Trade Organization}}
{{Asia in topic|Economy of}}

[[Category:Economy of Kuwait| ]]
[[Category:World Trade Organization member economies|Kuwait]]
[[Category:Economy of the Arab League]]
[[Category:OPEC|Kuwait]]