Analysis and Studies - Country Analysis
Kuwait: a look at the market
February 17th 2025
Overview
In 2022, Kuwait ranked as the 56th largest economy in the world by GDP (current US$), the 42nd in total exports, and the 55th in total imports. It was also the 24th largest economy in terms of GDP per capita (current US$) and the 46th most complex economy, according to the Economic Complexity Index (ECI).
Exports
Kuwait's main exports include Crude Petroleum ($62.6B), Refined Petroleum ($16.8B), Petroleum Gas ($3.51B), Sulfonated, Nitrated, or Nitrosated Hydrocarbons ($3.23B), and Acyclic Alcohol Derivatives (halogenated, sulphonated, nitrated) ($2.79B). The largest export destinations for these products are China ($24.3B), India ($15B), South Korea ($10.8B), Japan ($8.64B), and Chinese Taipei ($7.34B). In 2022, Kuwait was the world's largest exporter of Sulfonated, Nitrated, or Nitrosated Hydrocarbons ($3.23B).
Imports
The top imports to Kuwait include Cars ($5.12B), Gold ($3.25B), Jewellery ($2.95B), Packaged Medicaments ($1.42B), and Broadcasting Equipment ($1.35B). The primary suppliers of these imports are the United Arab Emirates ($13B), China ($10.2B), Saudi Arabia ($5.91B), the United States ($4.72B), and Japan ($2.57B). In 2022, Kuwait was the world's largest importer of Sheep and Goats ($329M) and Cast Iron Pipes ($284M).
Location
Kuwait shares land borders with Iraq and Saudi Arabia, and has maritime borders with Iran.
Most Specialized Products by RCA Index
Kuwait shows a high degree of specialization in N/A. Specialization is measured using the RCA index, which compares Kuwait’s actual exports to the expected exports for each product.
Most Complex Products by PCI
Kuwait's most complex exports, according to the Product Complexity Index (PCI), are N/A. The PCI assesses the knowledge intensity of a product by evaluating the expertise of its exporters.
Data sourced from BACI HS6 REV. 1992 (1995 - 2022) and OEC Economic Complexity Indicators.
Source: https://oec.world/
