External balance on goods and services in Kuwait
Kuwait: External balance on goods and services was 8.65 billion current LCU in 2024. ◆ Volatile
Latest (2024)
8.65 billion current LCU
Change on year
down 12.2%
World rank
53rd
of 193 countries
All-time high
23.61 billion current LCU
in 2012
All-time low
-3.41 billion current LCU
in 1991
Years of data
60
1965–2024
External balance on goods and services in Kuwait, 1965–2024
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in current LCU.
Analysis
Kuwait recorded 8.65 billion current LCU for external balance on goods and services in 2024.
The figure is down 12.2% on the previous year and down 49.5% over ten years.
Over the whole period, external balance on goods and services in Kuwait peaked at 23.61 billion current LCU in 2012 and was at its lowest, -3.41 billion current LCU, in 1991.
That places Kuwait 53rd out of 193 countries with data for 2024, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
External balance on goods and services in Kuwait, year by year
| Year | current LCU | Change |
|---|---|---|
| 1965 | 334.00 million current LCU | — |
| 1966 | 353.00 million current LCU | +5.7% |
| 1967 | 271.00 million current LCU | -23.2% |
| 1968 | 339.00 million current LCU | +25.1% |
| 1969 | 342.00 million current LCU | +0.9% |
| 1970 | 366.40 million current LCU | +7.1% |
| 1971 | 658.90 million current LCU | +79.8% |
| 1972 | 701.80 million current LCU | +6.5% |
| 1973 | 798.30 million current LCU | +13.8% |
| 1974 | 2.71 billion current LCU | +239.7% |
| 1975 | 1.90 billion current LCU | -30.0% |
| 1976 | 1.74 billion current LCU | -8.2% |
| 1977 | 1.16 billion current LCU | -33.5% |
| 1978 | 1.31 billion current LCU | +13.0% |
| 1979 | 3.36 billion current LCU | +157.0% |
| 1980 | 3.41 billion current LCU | +1.4% |
| 1981 | 2.17 billion current LCU | -36.5% |
| 1982 | 133.00 million current LCU | -93.9% |
| 1983 | 594.79 million current LCU | +347.2% |
| 1984 | 994.00 million current LCU | +67.1% |
| 1985 | 705.00 million current LCU | -29.1% |
| 1986 | -95.00 million current LCU | -113.5% |
| 1987 | 961.00 million current LCU | -1111.6% |
| 1988 | 267.00 million current LCU | -72.2% |
| 1989 | 788.00 million current LCU | +195.1% |
| 1990 | -697.00 million current LCU | -188.5% |
| 1991 | -3.41 billion current LCU | +388.6% |
| 1992 | -801.00 million current LCU | -76.5% |
| 1993 | 252.00 million current LCU | -131.5% |
| 1994 | 629.00 million current LCU | +149.6% |
| 1995 | 843.00 million current LCU | +34.0% |
| 1996 | 1.24 billion current LCU | +46.5% |
| 1997 | 1.22 billion current LCU | -1.1% |
| 1998 | -572.00 million current LCU | -146.8% |
| 1999 | 596.00 million current LCU | -204.2% |
| 2000 | 3.05 billion current LCU | +411.1% |
| 2001 | 1.69 billion current LCU | -44.6% |
| 2002 | 928.00 million current LCU | -45.0% |
| 2003 | 2.52 billion current LCU | +171.0% |
| 2004 | 4.30 billion current LCU | +70.9% |
| 2005 | 8.43 billion current LCU | +96.0% |
| 2006 | 12.19 billion current LCU | +44.7% |
| 2007 | 11.44 billion current LCU | -6.2% |
| 2008 | 16.18 billion current LCU | +41.5% |
| 2009 | 9.17 billion current LCU | -43.3% |
| 2010 | 12.01 billion current LCU | +31.1% |
| 2011 | 20.12 billion current LCU | +67.4% |
| 2012 | 23.61 billion current LCU | +17.4% |
| 2013 | 21.79 billion current LCU | -7.7% |
| 2014 | 17.11 billion current LCU | -21.5% |
| 2015 | 3.04 billion current LCU | -82.2% |
| 2016 | -295.22 million current LCU | -109.7% |
| 2017 | 1.67 billion current LCU | -664.6% |
| 2018 | 4.96 billion current LCU | +197.3% |
| 2019 | 5.32 billion current LCU | +7.3% |
| 2020 | 1.84 billion current LCU | -65.4% |
| 2021 | 9.60 billion current LCU | +421.4% |
| 2022 | 16.85 billion current LCU | +75.5% |
| 2023 | 9.85 billion current LCU | -41.6% |
| 2024 | 8.65 billion current LCU | -12.2% |
Kuwait compared with similar countries
- Kuwait's 8.65 billion current LCU is above the median for high income countries, which is 3.18 billion current LCU, 2.7× the median. (72 countries reporting)
- Kuwait's 8.65 billion current LCU is above the median for Middle East, North Africa, Afghanistan & Pakistan, which is -4.55 billion current LCU. (23 countries reporting)
Biggest year-on-year movements
Years where External balance on goods and services 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 | +1111.6% | -95.00 million current LCU | 961.00 million current LCU |
| 2017 | +664.6% | -295.22 million current LCU | 1.67 billion current LCU |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 327.80 million current LCU | 271.00 million current LCU | 353.00 million current LCU | 5 |
| 1970s | 1.47 billion current LCU | 366.40 million current LCU | 3.36 billion current LCU | 10 |
| 1980s | 992.48 million current LCU | -95.00 million current LCU | 3.41 billion current LCU | 10 |
| 1990s | -69.95 million current LCU | -3.41 billion current LCU | 1.24 billion current LCU | 10 |
| 2000s | 6.99 billion current LCU | 928.00 million current LCU | 16.18 billion current LCU | 10 |
| 2010s | 10.93 billion current LCU | -295.22 million current LCU | 23.61 billion current LCU | 10 |
| 2020s | 9.36 billion current LCU | 1.84 billion current LCU | 16.85 billion current LCU | 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)
- Foreign direct investment, net outflows (BoP, current US$), gaps 2.99 billion BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.019 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 614.43 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 413.09 million BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual -32.78 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0026 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 84.91 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 1.99 % change on previous year (2025)
Frequently asked questions
- What is external balance on goods and services in Kuwait?
- External balance on goods and services in Kuwait was 8.65 billion current LCU in 2024, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest external balance on goods and services recorded in Kuwait?
- The highest recorded value was 23.61 billion current LCU in 2012.
- What is the lowest external balance on goods and services recorded in Kuwait?
- The lowest recorded value was -3.41 billion current LCU in 1991.
- How does Kuwait rank for external balance on goods and services?
- Kuwait ranks 53rd out of 193 countries with data for 2024.
- Is external balance on goods and services rising or falling in Kuwait?
- Over the last ten years it is down 49.5%. The long-run trend across the full record is volatile.
- Where does this Kuwait data come from?
- The figures come from Country official statistics, National Statistical Organizations and/or Central Banks, published as part of External balance on goods and services (current LCU). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 60 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
The balance of international trade in goods and services is the difference between the exports and imports of goods and services. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.