Compare Kuwait (2007) - Kuwait (2008)

Compare Kuwait (2007) z Kuwait (2008)

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	Kuwait (2007)	Kuwait (2008)

Budget	revenues: $60.29 billion expenditures: $35.9 billion (2006 est.)	revenues: $66.92 billion expenditures: $36.39 billion (2007 est.)
Debt - external	$25.26 billion (2006 est.)	$33.61 billion (31 December 2007 est.)
Diplomatic representation from the US	chief of mission: Ambassador Richard LEBARON embassy: Bayan 36302, Area 14, Al-Masjed Al-Aqsa Street (near the Bayan palace), Kuwait City mailing address: P. O. Box 77 Safat 13001 Kuwait; or PSC 1280 APO AE 09880-9000 telephone: [965] 259-1001 FAX: [965] 538-0282	chief of mission: Ambassador (vacant); Charge d'Affaires Alan MISENHEIMER embassy: Bayan 36302, Area 14, Al-Masjed Al-Aqsa Street (near the Bayan palace), Kuwait City mailing address: P. O. Box 77 Safat 13001 Kuwait; or PSC 1280 APO AE 09880-9000 telephone: [965] 259-1001 FAX: [965] 538-0282
Economic aid - recipient	$NA (2004)	$2.6 million (2004)
Economy - overview	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. High oil prices in recent years have helped build Kuwait's budget and trade surpluses and foreign reserves. As a result of this positive fiscal situation, the need for economic reforms is less urgent and the government has not earnestly pushed through new initiatives.	Kuwait is a small, rich, relatively open economy with self-reported crude oil reserves of about 104 billion barrels - 10% of world reserves. Petroleum accounts for nearly half of GDP, 95% of export revenues, and 80% of government income. High oil prices in recent years have helped build Kuwait's budget and trade surpluses and foreign reserves. As a result of this positive fiscal situation, the need for economic reforms is less urgent and the government has not earnestly pushed through new initiatives. Despite its vast oil reserves, Kuwait experienced power outages during the summer months in 2006 and 2007 because demand exceeded power generating capacity. Power outages are likely to worsen, given its high population growth rates, unless the government can increase generating capacity. In May 2007 Kuwait changed its currency peg from the US dollar to a basket of currencies in order to curb inflation and to reduce its vulnerability to external shocks.
Exchange rates	Kuwaiti dinars per US dollar - 0.29 (2006), 0.292 (2005), 0.2947 (2004), 0.298 (2003), 0.3039 (2002)	Kuwaiti dinars per US dollar - 0.2844 (2007), 0.29 (2006), 0.292 (2005), 0.2947 (2004), 0.298 (2003)
GDP - composition by sector	agriculture: 0.4% industry: 56.9% services: 42.8% (2006 est.)	agriculture: 0.4% industry: 54.7% services: 44.9% (2007 est.)
GDP - real growth rate	12.7% (2006 est.)	5.6% (2007 est.)
Imports	NA bbl/day	2,611 bbl/day (2004)
Imports - partners	US 14.1%, Japan 7.8%, Germany 7.7%, Saudi Arabia 6.8%, China 5.7%, UK 5.4%, Italy 4.6% (2006)	US 14.1%, Germany 7.9%, Japan 7.8%, Saudi Arabia 6.8%, China 5.7%, UK 5.4%, Italy 4.6% (2006)
Industrial production growth rate	13.1% (2005 est.)	0.8% (2007 est.)
Inflation rate (consumer prices)	3% (2006 est.)	3.9% (2007 est.)
Labor force	1.168 million note: non-Kuwaitis represent about 80% of the labor force (2006 est.)	1.167 million note: non-Kuwaitis represent about 80% of the labor force (2007 est.)
Pipelines	gas 269 km; oil 540 km; refined products 57 km (2006)	gas 269 km; oil 540 km; refined products 57 km (2007)

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