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Economy
 
             Kuwait is a small, rich, relatively open economy with self-reported crude oil reserves of about 96 billion barrels - 10% of world reserves. Petroleum accounts for nearly half of GDP, 95% of export revenues, and 80% of government income. Kuwait's climate limits agricultural development. Consequently, with the exception of fish, it depends almost wholly on food imports. About 75% of potable water must be distilled or imported. Kuwait continues its discussions with foreign oil companies to develop fields in the northern part of the country.
GDP (purchasing power parity): $53.31 billion (2005 est.)
GDP (official exchange rate): $55.8 billion (2005 est.)
GDP - real growth rate: 5.6% (2005 est.)
GDP - per capita (PPP): $22,800 (2005 est.)
GDP - composition by sector: agriculture: 0.5%
industry: 52.1%
services: 47.4% (2005 est.)
Labor force: 1.67 million
note: non-Kuwaitis represent about 80% of the labor force (2005 est.)
Labor force - by occupation: agriculture NA%, industry NA%, services NA%
Unemployment rate: 2.2% (2004 est.)
Population below poverty line: NA%
Household income or consumption by percentage share: lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices): 3.5% (2005 est.)
Investment (gross fixed): 6.6% of GDP (2005 est.)
Budget: revenues: $47.21 billion
expenditures: $20.77 billion; including capital expenditures of $NA (2005 est.)
Public debt: 17.6% of GDP (2005 est.)

Agriculture - products: practically no crops; fish
Industries: petroleum, petrochemicals, cement, shipbuilding and repair, desalination, food processing, construction materials
Industrial production growth rate: -5% (2002 est.)
Electricity - production: 38.19 billion kWh (2003)
Electricity - consumption: 35.52 billion kWh (2003)
Electricity - exports: 0 kWh (2003)
Electricity - imports: 0 kWh (2003)
Oil - production: 2.418 million bbl/day (2005 est.)
Oil - consumption: 305,000 bbl/day (2003 est.)
Oil - exports: 1.97 million bbl/day (2003)
Oil - imports: NA bbl/day
Oil - proved reserves: 96.5 billion bbl (2005 est.)
Natural gas - production: 8.3 billion cu m (2003 est.)
Natural gas - consumption: 8.3 billion cu m (2003 est.)
Natural gas - exports: 0 cu m (2002 est.)
Natural gas - imports: 0 cu m (2002 est.)
Natural gas - proved reserves: 1.572 trillion cu m (2005)
Current account balance: $31.51 billion (2005 est.)
Exports: $44.43 billion f.o.b. (2005 est.)
Exports - commodities: oil and refined products, fertilizers
Exports - partners: Japan 20.5%, South Korea 13.7%, US 12.4%, Singapore 11.3%, Taiwan 9.9% (2004)
Imports: $12.23 billion f.o.b. (2005 est.)
Imports - commodities: food, construction materials, vehicles and parts, clothing
Imports - partners: US 12.9%, Germany 11.9%, Japan 7.9%, UK 5.5%, Saudi Arabia 5.5%, Italy 5%, France 4.5%, China 4.1% (2004)
Reserves of foreign exchange and gold: $9.296 billion (2005 est.)
Debt - external: $14.93 billion (2005 est.)
Economic aid - recipient: $NA (2001)
Currency (code): Kuwaiti dinar (KD)
Exchange rates: Kuwaiti dinars per US dollar - 0.292 (2005), 0.2947 (2004), 0.298 (2003), 0.3039 (2002), 0.3067 (2001)
Fiscal year: 1 April - 31 March
 
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