External balance on goods and services in Kuwait
Kuwait: External balance on goods and services was 28.19 billion current US$ in 2024. ◆ Volatile
Latest (2024)
28.19 billion current US$
Change on year
down 12.0%
World rank
19th
of 193 countries
All-time high
84.33 billion current US$
in 2012
All-time low
-11.98 billion current US$
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 US$.
Analysis
The most recent figure for external balance on goods and services in Kuwait is 28.19 billion current US$, measured in 2024.
Compared with earlier readings it is down 12.0% on the previous year and down 53.1% over ten years.
Over the whole period, external balance on goods and services in Kuwait peaked at 84.33 billion current US$ in 2012 and was at its lowest, -11.98 billion current US$, in 1991.
That places Kuwait 19th out of 193 countries with data for 2024, putting it in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
External balance on goods and services in Kuwait, year by year
| Year | current US$ | Change |
|---|---|---|
| 1965 | 935.20 million current US$ | — |
| 1966 | 988.40 million current US$ | +5.7% |
| 1967 | 758.80 million current US$ | -23.2% |
| 1968 | 949.20 million current US$ | +25.1% |
| 1969 | 957.60 million current US$ | +0.9% |
| 1970 | 1.03 billion current US$ | +7.1% |
| 1971 | 1.85 billion current US$ | +80.4% |
| 1972 | 2.13 billion current US$ | +15.3% |
| 1973 | 2.69 billion current US$ | +26.2% |
| 1974 | 9.25 billion current US$ | +243.6% |
| 1975 | 6.55 billion current US$ | -29.2% |
| 1976 | 5.96 billion current US$ | -9.0% |
| 1977 | 4.04 billion current US$ | -32.2% |
| 1978 | 4.76 billion current US$ | +17.7% |
| 1979 | 12.16 billion current US$ | +155.8% |
| 1980 | 12.62 billion current US$ | +3.7% |
| 1981 | 7.77 billion current US$ | -38.4% |
| 1982 | 461.95 million current US$ | -94.1% |
| 1983 | 2.04 billion current US$ | +341.7% |
| 1984 | 3.36 billion current US$ | +64.5% |
| 1985 | 2.34 billion current US$ | -30.2% |
| 1986 | -326.92 million current US$ | -113.9% |
| 1987 | 3.45 billion current US$ | -1154.9% |
| 1988 | 956.89 million current US$ | -72.3% |
| 1989 | 2.68 billion current US$ | +180.3% |
| 1990 | -2.42 billion current US$ | -190.2% |
| 1991 | -11.98 billion current US$ | +395.0% |
| 1992 | -2.73 billion current US$ | -77.2% |
| 1993 | 834.44 million current US$ | -130.6% |
| 1994 | 2.12 billion current US$ | +153.8% |
| 1995 | 2.82 billion current US$ | +33.4% |
| 1996 | 4.12 billion current US$ | +46.0% |
| 1997 | 4.03 billion current US$ | -2.4% |
| 1998 | -1.88 billion current US$ | -146.6% |
| 1999 | 1.96 billion current US$ | -204.3% |
| 2000 | 9.93 billion current US$ | +407.2% |
| 2001 | 5.50 billion current US$ | -44.6% |
| 2002 | 3.05 billion current US$ | -44.5% |
| 2003 | 8.44 billion current US$ | +176.4% |
| 2004 | 14.58 billion current US$ | +72.8% |
| 2005 | 28.85 billion current US$ | +97.8% |
| 2006 | 42.02 billion current US$ | +45.6% |
| 2007 | 40.23 billion current US$ | -4.3% |
| 2008 | 60.18 billion current US$ | +49.6% |
| 2009 | 31.85 billion current US$ | -47.1% |
| 2010 | 41.92 billion current US$ | +31.6% |
| 2011 | 72.89 billion current US$ | +73.9% |
| 2012 | 84.33 billion current US$ | +15.7% |
| 2013 | 76.84 billion current US$ | -8.9% |
| 2014 | 60.14 billion current US$ | -21.7% |
| 2015 | 10.12 billion current US$ | -83.2% |
| 2016 | -977.11 million current US$ | -109.7% |
| 2017 | 5.49 billion current US$ | -662.3% |
| 2018 | 16.41 billion current US$ | +198.7% |
| 2019 | 17.51 billion current US$ | +6.7% |
| 2020 | 6.01 billion current US$ | -65.7% |
| 2021 | 31.82 billion current US$ | +429.3% |
| 2022 | 55.01 billion current US$ | +72.9% |
| 2023 | 32.05 billion current US$ | -41.7% |
| 2024 | 28.19 billion current US$ | -12.0% |
Kuwait compared with similar countries
- Kuwait's 28.19 billion current US$ is above the median for high income countries, which is 3.43 billion current US$, 8.2× the median. (72 countries reporting)
- Kuwait's 28.19 billion current US$ is above the median for Middle East, North Africa, Afghanistan & Pakistan, which is -4.68 billion current US$. (23 countries reporting)
Biggest year-on-year movements
Years where External balance on goods and services in Kuwait changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1987 | +1154.9% | -326.92 million current US$ | 3.45 billion current US$ |
| 2017 | +662.3% | -977.11 million current US$ | 5.49 billion current US$ |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 917.84 million current US$ | 758.80 million current US$ | 988.40 million current US$ | 5 |
| 1970s | 5.04 billion current US$ | 1.03 billion current US$ | 12.16 billion current US$ | 10 |
| 1980s | 3.54 billion current US$ | -326.92 million current US$ | 12.62 billion current US$ | 10 |
| 1990s | -312.24 million current US$ | -11.98 billion current US$ | 4.12 billion current US$ | 10 |
| 2000s | 24.47 billion current US$ | 3.05 billion current US$ | 60.18 billion current US$ | 10 |
| 2010s | 38.47 billion current US$ | -977.11 million current US$ | 84.33 billion current US$ | 10 |
| 2020s | 30.62 billion current US$ | 6.01 billion current US$ | 55.01 billion current US$ | 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$), annual growth rate 1.99 % change on previous year (2025)
Frequently asked questions
- What is external balance on goods and services in Kuwait?
- External balance on goods and services in Kuwait was 28.19 billion current US$ 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 84.33 billion current US$ in 2012.
- What is the lowest external balance on goods and services recorded in Kuwait?
- The lowest recorded value was -11.98 billion current US$ in 1991.
- How does Kuwait rank for external balance on goods and services?
- Kuwait ranks 19th 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 53.1%. 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 US$). 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 indicator is expressed in United States dollars.