External balance on goods and services as a percent of GDP in Kuwait
Kuwait: External balance on goods and services as a percent of GDP was 17.5% in 2024. ◆ Volatile
External balance on goods and services as a percent of GDP in Kuwait, 1965–2024
Source: National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data. Measured in % of GDP.
Analysis
Kuwait recorded 17.5% for external balance on goods and services as a percent of gdp in 2024.
The figure is down 9.5% on the previous year and down 52.6% over ten years.
Over the whole period, external balance on goods and services as a percent of gdp in Kuwait peaked at 71.1% in 1974 and was at its lowest, -108.8%, in 1991.
Kuwait ranks 12th of 191 countries on this measure, in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
External balance on goods and services as a percent of GDP in Kuwait, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1965 | 44.6% | — |
| 1966 | 41.3% | -7.3% |
| 1967 | 31.1% | -24.8% |
| 1968 | 35.6% | +14.7% |
| 1969 | 34.6% | -3.0% |
| 1970 | 35.7% | +3.2% |
| 1971 | 47.7% | +33.6% |
| 1972 | 47.9% | +0.5% |
| 1973 | 49.8% | +3.8% |
| 1974 | 71.1% | +42.9% |
| 1975 | 54.5% | -23.4% |
| 1976 | 45.4% | -16.7% |
| 1977 | 28.6% | -37.0% |
| 1978 | 30.7% | +7.3% |
| 1979 | 49.2% | +60.2% |
| 1980 | 44.1% | -10.4% |
| 1981 | 31.0% | -29.6% |
| 1982 | 2.1% | -93.1% |
| 1983 | 9.8% | +356.7% |
| 1984 | 15.5% | +58.2% |
| 1985 | 10.9% | -29.4% |
| 1986 | -1.8% | -116.7% |
| 1987 | 15.4% | -944.3% |
| 1988 | 4.6% | -70.0% |
| 1989 | 11.0% | +138.5% |
| 1990 | -13.1% | -219.0% |
| 1991 | -108.8% | +728.5% |
| 1992 | -13.7% | -87.4% |
| 1993 | 3.5% | -125.4% |
| 1994 | 8.5% | +144.5% |
| 1995 | 10.4% | +21.9% |
| 1996 | 13.1% | +26.1% |
| 1997 | 13.3% | +1.3% |
| 1998 | -7.2% | -154.6% |
| 1999 | 6.5% | -189.8% |
| 2000 | 26.3% | +305.0% |
| 2001 | 15.8% | -40.1% |
| 2002 | 8.0% | -49.2% |
| 2003 | 17.6% | +120.2% |
| 2004 | 24.5% | +39.2% |
| 2005 | 35.7% | +45.5% |
| 2006 | 41.4% | +15.9% |
| 2007 | 35.1% | -15.2% |
| 2008 | 40.8% | +16.3% |
| 2009 | 30.1% | -26.4% |
| 2010 | 36.3% | +20.8% |
| 2011 | 47.3% | +30.3% |
| 2012 | 48.5% | +2.4% |
| 2013 | 44.1% | -8.9% |
| 2014 | 37.0% | -16.2% |
| 2015 | 8.8% | -76.1% |
| 2016 | -0.9% | -110.1% |
| 2017 | 4.6% | -609.7% |
| 2018 | 11.8% | +160.0% |
| 2019 | 12.4% | +5.0% |
| 2020 | 5.4% | -56.4% |
| 2021 | 21.5% | +296.2% |
| 2022 | 30.0% | +39.8% |
| 2023 | 19.4% | -35.4% |
| 2024 | 17.5% | -9.5% |
Kuwait compared with similar countries
- Kuwait's 17.5% is above the median for high income countries, which is 2.2%, 7.8× the median. (72 countries reporting)
- Kuwait's 17.5% is above the median for Middle East, North Africa, Afghanistan & Pakistan, which is -5.3%. (23 countries reporting)
Biggest year-on-year movements
Years where External balance on goods and services as a percent of GDP in Kuwait changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1987 | +944.3% | -1.8% | 15.4% |
| 1991 | -728.5% | -13.1% | -108.8% |
| 2017 | +609.7% | -0.9% | 4.6% |
| 1983 | +356.7% | 2.1% | 9.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 37.4% | 31.1% | 44.6% | 5 |
| 1970s | 46.0% | 28.6% | 71.1% | 10 |
| 1980s | 14.3% | -1.8% | 44.1% | 10 |
| 1990s | -8.8% | -108.8% | 13.3% | 10 |
| 2000s | 27.5% | 8.0% | 41.4% | 10 |
| 2010s | 25.0% | -0.9% | 48.5% | 10 |
| 2020s | 18.7% | 5.4% | 30.0% | 5 |
Countries ranked near Kuwait
More economy & growth data for Kuwait
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.82 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2.61 Percent per annum (2029)
- SDRs holdings, US dollar, annual growth rate 5.56 % change on previous year (2025)
- SDRs holdings, US dollar, per unit of GDP 0.0284 units per US$ of GDP (2025)
- SDRs holdings, US dollar, per capita 916.14 units per person (2025)
- SDRs holdings, SDR, annual growth rate 0.517 % change on previous year (2025)
- SDRs holdings, SDR, per unit of GDP 0.0207 units per US$ of GDP (2025)
- SDRs holdings, SDR, per capita 668.96 units per person (2025)
- IMF holdings of currency, US dollar, annual growth rate 2.97 % change on previous year (2025)
- IMF holdings of currency, US dollar, per unit of GDP 0.0124 units per US$ of GDP (2025)
Frequently asked questions
- What is external balance on goods and services as a percent of gdp in Kuwait?
- External balance on goods and services as a percent of gdp in Kuwait was 17.5% in 2024, according to National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data.
- What is the highest external balance on goods and services as a percent of gdp recorded in Kuwait?
- The highest recorded value was 71.1% in 1974.
- What is the lowest external balance on goods and services as a percent of gdp recorded in Kuwait?
- The lowest recorded value was -108.8% in 1991.
- How does Kuwait rank for external balance on goods and services as a percent of gdp?
- Kuwait ranks 12th out of 191 countries with data for 2024.
- Is external balance on goods and services as a percent of gdp rising or falling in Kuwait?
- Over the last ten years it is down 52.6%. The long-run trend across the full record is volatile.
- Where does this Kuwait data come from?
- The figures come from National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data, published as part of External balance on goods and services as a percent of GDP. Statizoid updates them automatically from the source API.
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About this data
Exports of goods and services minus imports of goods and services divided by gross domestic product, expressed as a percentage.