Gross Domestic Product — Value Standard Local Currency in Kuwait
Kuwait: Gross Domestic Product — Value Standard Local Currency was 48,641 million SLC in 2024. ◆ Volatile
Gross Domestic Product — Value Standard Local Currency in Kuwait, 1970–2024
Source: Food and Agriculture Organization of the United Nations. Measured in million SLC.
Analysis
The most recent figure for gross domestic product — value standard local currency in Kuwait is 48,641 million SLC, measured in 2024.
That represents a change of down 3.3% on the previous year and up 5.1% over ten years.
Over the whole period, gross domestic product — value standard local currency in Kuwait peaked at 56,332 million SLC in 2022 and was at its lowest, 1,026 million SLC, in 1970.
That places Kuwait 164th out of 218 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Gross Domestic Product — Value Standard Local Currency in Kuwait, year by year
| Year | million SLC | Change |
|---|---|---|
| 1970 | 1,026 million SLC | — |
| 1971 | 1,382 million SLC | +34.7% |
| 1972 | 1,463 million SLC | +5.9% |
| 1973 | 1,603 million SLC | +9.6% |
| 1974 | 3,812 million SLC | +137.8% |
| 1975 | 3,485 million SLC | -8.6% |
| 1976 | 3,836 million SLC | +10.1% |
| 1977 | 4,052 million SLC | +5.6% |
| 1978 | 4,264 million SLC | +5.2% |
| 1979 | 6,840 million SLC | +60.4% |
| 1980 | 7,755 million SLC | +13.4% |
| 1981 | 7,039 million SLC | -9.2% |
| 1982 | 6,214 million SLC | -11.7% |
| 1983 | 6,083 million SLC | -2.1% |
| 1984 | 6,425 million SLC | +5.6% |
| 1985 | 6,450 million SLC | +0.4% |
| 1986 | 5,203 million SLC | -19.3% |
| 1987 | 6,233 million SLC | +19.8% |
| 1988 | 5,773 million SLC | -7.4% |
| 1989 | 7,143 million SLC | +23.7% |
| 1990 | 5,328 million SLC | -25.4% |
| 1991 | 3,131 million SLC | -41.2% |
| 1992 | 5,826 million SLC | +86.1% |
| 1993 | 7,231 million SLC | +24.1% |
| 1994 | 7,380 million SLC | +2.1% |
| 1995 | 7,925 million SLC | +7.4% |
| 1996 | 9,429 million SLC | +19.0% |
| 1997 | 9,207 million SLC | -2.4% |
| 1998 | 7,907 million SLC | -14.1% |
| 1999 | 9,170 million SLC | +16.0% |
| 2000 | 11,570 million SLC | +26.2% |
| 2001 | 10,700 million SLC | -7.5% |
| 2002 | 11,590 million SLC | +8.3% |
| 2003 | 14,267 million SLC | +23.1% |
| 2004 | 17,516 million SLC | +22.8% |
| 2005 | 23,593 million SLC | +34.7% |
| 2006 | 29,470 million SLC | +24.9% |
| 2007 | 32,581 million SLC | +10.6% |
| 2008 | 39,620 million SLC | +21.6% |
| 2009 | 30,496 million SLC | -23.0% |
| 2010 | 33,079 million SLC | +8.5% |
| 2011 | 42,512 million SLC | +28.5% |
| 2012 | 48,722 million SLC | +14.6% |
| 2013 | 49,392 million SLC | +1.4% |
| 2014 | 46,285 million SLC | -6.3% |
| 2015 | 34,473 million SLC | -25.5% |
| 2016 | 33,056 million SLC | -4.1% |
| 2017 | 36,611 million SLC | +10.8% |
| 2018 | 41,865 million SLC | +14.4% |
| 2019 | 42,766 million SLC | +2.2% |
| 2020 | 34,006 million SLC | -20.5% |
| 2021 | 44,782 million SLC | +31.7% |
| 2022 | 56,332 million SLC | +25.8% |
| 2023 | 50,288 million SLC | -10.7% |
| 2024 | 48,641 million SLC | -3.3% |
Kuwait compared with similar countries
- Kuwait's 48,641 million SLC is below the median for high income countries, which is 257,567 million SLC, 19% of the median. (72 countries reporting)
- Kuwait's 48,641 million SLC is below the median for Middle East, North Africa, Afghanistan & Pakistan, which is 1.54 million million SLC, 3% of the median. (21 countries reporting)
Biggest year-on-year movements
Years where Gross Domestic Product — Value Standard Local Currency 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 |
|---|---|---|---|
| 1974 | +137.8% | 1,603 million SLC | 3,812 million SLC |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 3,176 million SLC | 1,026 million SLC | 6,840 million SLC | 10 |
| 1980s | 6,432 million SLC | 5,203 million SLC | 7,755 million SLC | 10 |
| 1990s | 7,253 million SLC | 3,131 million SLC | 9,429 million SLC | 10 |
| 2000s | 22,140 million SLC | 10,700 million SLC | 39,620 million SLC | 10 |
| 2010s | 40,876 million SLC | 33,056 million SLC | 49,392 million SLC | 10 |
| 2020s | 46,810 million SLC | 34,006 million SLC | 56,332 million SLC | 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 gross domestic product — value standard local currency in Kuwait?
- Gross domestic product — value standard local currency in Kuwait was 48,641 million SLC in 2024, according to Food and Agriculture Organization of the United Nations.
- What is the highest gross domestic product — value standard local currency recorded in Kuwait?
- The highest recorded value was 56,332 million SLC in 2022.
- What is the lowest gross domestic product — value standard local currency recorded in Kuwait?
- The lowest recorded value was 1,026 million SLC in 1970.
- How does Kuwait rank for gross domestic product — value standard local currency?
- Kuwait ranks 164th out of 218 countries with data for 2024.
- Is gross domestic product — value standard local currency rising or falling in Kuwait?
- Over the last ten years it is up 5.1%. The long-run trend across the full record is volatile.
- Where does this Kuwait data come from?
- The figures come from Food and Agriculture Organization of the United Nations, published as part of Gross Domestic Product — Value Standard Local Currency. Statizoid updates them automatically from the source API.
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About this data
The FAOSTAT Macro Indicators database provides a selection of country-level macro indicators relating to total economy (Gross Domestic Product, Gross Fixed Capital Formation); agriculture activity; agriculture, forestry and fishing activity; total manufacturing activity; manufacturing of food products and beverages activity; manufacturing activity of tobacco products; and manufacturing activity of food, beverage and tobacco products.It releases time series for a selection of National Accounts variables, including gross domestic product, gross fixed capital formation, industry-level value added and gross output. The database also proposes additional indicators such as gross domestic product per capita, year-on-year growth rates and measures of industry contribution to gross domestic product. All data relating to Gross Domestic Product, Gross Fixed Capital Formation, agriculture, forestry and fishing activity, and to total manufacturing activity originates from the United Nations Statistics Division (UNSD) National Accounts Estimates of Main Aggregates database, which consists of a complete and consistent set of time series of the main National Accounts aggregates of all UN Members States and other territories in the world for which National Accounts information is available. The UNSD database's content is based on the countries' official National Accounts data reported to UNSD through the annual National Accounts Questionnaire, supplemented with data estimates for any years and countries with incomplete or inconsistent information (See http://unstats.un.org/unsd/snaama/Introduction.asp). Data series relating to the sub-industry Agriculture activity are obtained from the UNSD national accounts Official Country Data databases while series on the Manufacturing activity of food and beverages products, manufacturing activity of tobacco products and manufacturing activity of food, beverages and tobacco products originates from the United Nations Industrial Development Organization (UNIDO) INDSTAT2 database. In order to ensure that sub-industry series are consistent in levels with National Accounts based series, which is needed to support comparability across industries (agriculture vs. agro-industry and sub-industries), UNIDO originating series are rescaled on UNSD National Accounts Estimates of Main Aggregates data series (See Section 17.5 for a more detailed description of the data processing steps).