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2023
Economic Complexity
Trade 0.21Rank 53 of 132
2021
Economic Complexity
Technology -1.77Rank 94 of 96
2022
Economic Complexity
Research -0.43Rank 80 of 140
2023
Product
Exports | Imports $71B | $40.5B47 of 226 |  62 of 226
2023
Per Capita Product
Exports | Imports $14.6k | $8.34k28 of 220 |  77 of 220

About

Overview In 2023, Kuwait was the number 58 economy in the world in terms of GDP (current US$), the number 47 in total exports, the number 62 in total imports, the number 39 economy in terms of GDP per capita (current US$) and the number 53 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Kuwait are Crude Petroleum ($35.7B), Refined Petroleum ($23.7B), Petroleum Gas ($3.27B), Cyclic Hydrocarbons ($1.31B), and Sulfonated, Nitrated or Nitrosated Hydrocarbons ($903M), exporting mostly to China ($17.4B), India ($9.51B), Japan ($9.13B), Chinese Taipei ($4.74B), and United Kingdom ($3.31B).

In 2023, Kuwait was the world's biggest exporter of Sulfonated, Nitrated or Nitrosated Hydrocarbons ($903M)

Imports The top imports of Kuwait are Cars ($4.79B), Petroleum Gas ($2.43B), Broadcasting Equipment ($1.46B), Packaged Medicaments ($1.23B), and Jewellery ($1.18B), importing mostly from China ($7.14B), United Arab Emirates ($3.99B), United States ($3.74B), Saudi Arabia ($2.25B), and Japan ($2.24B).

Location Kuwait borders Iraq and Saudi Arabia by land and Iran by sea.

Latest Trends

Latest Trade

Flow
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Y-AXIS SCALE

The following section uses the most recent trade data from partners of Kuwait.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2023)Crude Petroleum$35.7B
Top Destination (2023)China$17.4B

In 2023, Kuwait exported a total of $71B, making it the number 47 exporter in the world. During the last five reported years the exports of Kuwait have changed by -$5.57B from $76.5B in 2018 to $71B in 2023.

The most recent exports are led by Crude Petroleum ($35.7B), Refined Petroleum ($23.7B), Petroleum Gas ($3.27B), Cyclic Hydrocarbons ($1.31B), and Sulfonated, Nitrated or Nitrosated Hydrocarbons ($903M). The most common destination for the exports of Kuwait are China ($17.4B), India ($9.51B), Japan ($9.13B), Chinese Taipei ($4.74B), and United Kingdom ($3.31B).

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Exports (2023)
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Destinations (2023)
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Market Growth

Flow
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Growth
Fastest Growing Export Markets (2022 - 2023)
Oman$1.4B (+ 409%)
Singapore$1.35B (+ 302%)
Ethiopia$982M (+ 283%)
Fastest Growing Import Markets (2022 - 2023)
Qatar$1.56B (+ 569%)
China$1.01B (+ 16.5%)
Japan$387M (+ 20.9%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

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Service Trade

Service Trade

Kuwait Exports Services (2020)$7.41B
Kuwait Imports Services (2020)$18B

In 2020, Kuwait exported $7.41B worth of services. The top services exported by Kuwait in 2020 were Telecommunications services ($4.27B), Personal travel ($730M), Insurance services ($614M), Other government services ($555M), and Sea transport ($487M).

The top services imported by Kuwait in 2020 were Personal travel ($5.74B), Construction in the compiling economy ($3.53B), Other transport ($3.33B), Other government services ($1.85B), and Miscellaneous business, professional, and technical services ($1.56B).

Service Exports (2020)

Service Imports (2020)

Economic Complexity

Overview

Economic Complexity (Trade)0.21Rank 53 of 132
Economic Complexity (Technology)-1.77Rank 94 of 96
Economic Complexity (Research)-0.43Rank 80 of 140

Most Specialized Products by RCA Index

Kuwait has a high level of specialization in Sulfonated, Nitrated or Nitrosated Hydrocarbons (128), Sulphur (12.5), Cyclic Hydrocarbons (10.1), Crude Petroleum (8.88), and Refined Petroleum (8.1). Specialization is measured using RCA, an index that takes the ratio between Kuwait observed and expected exports in each product.

Most Complex Products by PCI

The highest complexity exports of Kuwait according to the product complexity index (PCI) are Scent sprays and similar toilet sprays and mounts and heads therefor; powder-puffs... (1.02), Clocks, other, n.e.c. (0.6), Cyclic hydrocarbons (0.49), Friction material and articles thereof (e.g. sheets, rolls, strips, segments, discs, washers,... (0.44), and Polymers of propylene or of other olefins, in primary forms (0.22). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Kuwait according to the relatedness index, were Nitrogenous Fertilizers (0.046), Sulfur (0.046), Ammonia (0.045), Typewriters (0.043), and Raw Aluminium (0.043). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Kuwait is not specialized in.

Product Space

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of Kuwait. These are products that tend to be co-exported with the products that Kuwait exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2023)

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Kuwait's⁩ ⁨economy has become relatively more complex, moving from the ⁩⁨59th to the 53rd⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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ECI (Trade) Ranking by Country

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