Kuwait: Trade balance, percent of GDP
* indicates monthly or quarterly data series
| Kuwait |
Trade balance as percent of GDP |
|---|---|
| Latest value | 8.25 |
| Year | 2019 |
| Measure | percent |
| Data availability | 1965 - 2019 |
| Average | 22.25 |
| Min - Max | -108.81 - 71.12 |
| Source | The World Bank |
The latest value from 2019 is 8.25 percent, a decline from 11.88 percent in 2018. In comparison, the world average is -3.47 percent, based on data from 170 countries. Historically, the average for Kuwait from 1965 to 2019 is 22.25 percent. The minimum value, -108.81 percent, was reached in 1991 while the maximum of 71.12 percent was recorded in 1974.
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* indicates monthly or quarterly data series
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The trade balance for Kuwait and other countries is calculated as the difference between the exports and imports of goods and services, as percent of GDP. A positive number means trade surplus and a negative number means trade deficit.
Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services).
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Terms of trade | 124.96 | 2021 | percent |
| Trade openness | 90.70 | 2022 | percent |
| Financial openness | 1.034 | 2021 | index points |
| Exports, percent of GDP | 60.30 | 2022 | percent |
| Exports, billion dollars | 110.92 | 2022 | billion U.S. dollars |
| Growth of exports | -10.05 | 2019 | percent |
| Imports, percent of GDP | 44.08 | 2019 | percent |
| Imports, billion dollars | 55.91 | 2022 | billion U.S. dollars |
| Foreign Direct Investment, percent of GDP | 1.31 | 2023 | percent |
| Foreign Direct Investment, billion dollars | 2.11 | 2023 | billion U.S. dollars |
| Portfolio investment inflows, equities | -374.81 | 2023 | million dollars (current) |
| Current account, percent of GDP | 31.40 | 2023 | percent |
| Current account, in dollars | 51.40 | 2023 | billion U.S. dollars |
| Trade balance, percent of GDP | 8.25 | 2019 | percent |
| Trade balance, in dollars | 32.05 | 2023 | billion U.S. dollars |
| Reserves | 52.62 | 2023 | billion U.S. dollars |
| Remittances, percent of GDP | 0.01 | 2023 | percent |
| Remittances | 22.93 | 2023 | million U.S. dollars |
| Net errors and omissions | -694.68 | 2023 | million USD |
| Foreign exchange reserves | 12.70 | 3/2025 | billion |