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
Latest (2024)
17.5%
Change on year
down 9.5%
World rank
12th
of 191 countries
All-time high
71.1%
in 1974
All-time low
-108.8%
in 1991
Years of data
60
1965–2024
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% |
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)
- Households and NPISHs Final consumption expenditure (current LCU) 5.46 % change on previous year (2024)
- Households and NPISHs Final consumption expenditure (current LCU) 0.1275 current LCU per US$ of GDP (2024)
- Households and NPISHs Final consumption expenditure (current LCU) 4,190 current LCU per person (2024)
- Households and NPISHs Final consumption expenditure (constant 2015) 2.56 % change on previous year (2024)
- Households and NPISHs Final consumption expenditure (constant 2015) 0.3371 constant 2015 US$ per US$ of GDP (2024)
- Households and NPISHs Final consumption expenditure (constant 2015) 11,077 constant 2015 US$ per person (2024)
- Final consumption expenditure (current US$), annual growth rate 4.22 % change on previous year (2024)
- Final consumption expenditure (current US$), per unit of GDP 0.6738 current US$ per US$ of GDP (2024)
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.
Download this data
CSV · JSON — 60 observations, free to reuse under CC BY 4.0 (Our World in Data).
About this data
Exports of goods and services minus imports of goods and services divided by gross domestic product, expressed as a percentage.