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FACT SHEET ON KUWAIT
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GENERAL

Official Name

State of Kuwait

Capital

Kuwait City

Area

17,818 sq km

Population (2021)

4.33 million

Life Expectancy (2020)

78.5 yrs

Languages

Major language (and the official language too) is Arabic; English is also widely spoken

Religions

The official religion of the State is Islam

Internet Penetration

100%

Mobile Penetration

178.5%

Urbanization

100%

ECONOMY

Currency

Kuwaiti Dinar subdivided into 1000 Fils.
1 Kuwaiti Dinar = INR 244.858

GDP

US$136.20 billion (2019)

GDP Growth Rate

4.7% (q-o-q Dec 2020)

GDP Per Capita(PPP)

USD 49,853.74 (Dec 2019)

Major Sectors(% of GDP)
(CY 2020)

The major sectors of Kuwaiti Economy are as follows:

  • Extraction of crude petroleum and natural gas and service activities incidental to oil and gas, worth USD 36.8 billion (34.5% of GDP)
  • Public Administration and Defence worth of USD 16.33 billion USD (15.3% of GDP)
  • Financial intermediation and insurance worth of USD 13.62 billion (12.7% of GDP)
  • Other services worth of USD 12.85 billion (12% of GDP)
  • Education worth of USD 8.9 billion (8.3% of GDP)
  • Manufacturing worth of USD 7.07 billion (6.6% of GDP)

Unemployment

2.0% (2021)

Inflation

4.3% (Jan 2022)

Total Trade

Total trade in goods - US$ 67.7 billion (2020)

Total Trade in Services – US$ 38.14bn (2019)

Exports

US$ 39.9 billion (2020)

Imports

US$ 27.7 billion (2020)

Balance of Trade

+ US$ 12.15 billion (2020)

Major trading partners

Top 10 sources of Kuwaiti imports (2020)


Country

US$ million

People's Republic Of China

5,195.09

United States Of America

2,409.50

United Arab Emirates

2,360.38

Japan

1,687.19

Saudi Arabia

1,665.51

India

1,376.67

Germany

1,310.66

Italy

1,062.51

France

654.33

Turkey

633.83

Top 10 destinations of Kuwait’s exports (Non – oil data for 2020)


Country

US$ million

Saudi Arabia

658.72

People's Republic Of China

578.52

United Arab Emirates

540.09

India

504.09

Iraq

371.75

Qatar

284.10

Sultanate Of Oman

172.78

Pakistan

166.67

Jordan

96.21

Nigeria

70.47

POLITICAL

Political Structure

A hereditary constitutional monarchy with a democratic constitution, an elected National Assembly and a nominated government.  Amir is the Head of State and appoints the Prime Minister who heads the Government.

Head of State

H.H. Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah, HH the Amir of the State of  Kuwait

Head of Government

H.H. Sheikh Sabah Khaled Al-Hamad Al-Sabah, Prime Minister of the State of Kuwait

Minister of Foreign Affairs

H.E. Sheikh Dr. Ahmad Nasser Al-Mohammad Al-Sabah, Minister of Foreign Affairs of the State of Kuwait

Legislature

Kuwait has a National Assembly having 50 elected members. Elections are held every 4 years.

BILATERAL

Bilateral Trade

US$  6,27 billion (2020-21) 

Indian Exports

US$  1.05 billion (2020-21) 

Imports into India

US$  5.21 billion (2020-21) 

Major items of Export and Import from Kuwait

Exports: Mineral Fuels, Aircraft and parts, organic chemicals, plastics, nautical structures, copper, iron & steel, aluminium etc.
Imports:  Cereals, ceramic products, machinery & mechanical appliances, vehicles, electrical machinery, cofee & tea, iron & iron products, marine foods, jewellery etc.

Kuwait’s investments in India

Investments (predominantlythrough Fund managers) by Kuwait’s Sovereign Wealth Fund are over US$ 5bn.

Indian Organisations

Indian PSUs viz. TCIL, New India Assurance, LIC Housing & Finance, etc have offices in Kuwait, in association with local sponsors, as per prevailing regulations.
Other Indian companies (mainly EPCs) such as L&T, ShapoorjiPallonji, Kalpataru Power Transmission Ltd, TERI, WIPRO etc. have executed/are executing various projects in Kuwait.
Many Indianbanks have agreements with major Exchange Houses in Kuwait to facilitate remittances into India.

Indian Community in Kuwait

Indians estimated to about 1 million (2021) constitute about one-fourth of Kuwait’s total population. There are 24 CBSE affiliated Indian schools in Kuwait with more than 50,000 students (predominantly Indian).

 

March 2022
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