- According to the IMF, Kuwait’s real GDP growth grew by 1.3% in 2014 due to oil production and export growth. Kuwait benefits from elevated international oil prices as the export of crude oil accounts for the lion’s share of its foreign exchange earnings. Kuwait has the 2nd highest per capita GDP in the Middle East after Qatar.
- Kuwait was the United States’ 51st largest export market in 2014. Total two-way trade reached $15.2 billion in 2014. Total U.S. exports to Kuwait were $3.7 billion the same year, making Kuwait the 5th largest U.S. export market in the Middle East.
- There are many opportunities for U.S. products and services in the coming decade. With an affluent middle class, Kuwaiti consumer demand will continue to increase. Markets of opportunity includeeducation and training services, health care technologies, oil and gas equipment and services, power generation, information technologies, and defense.
- Doing business in Kuwait is not without risk, but the U.S. Embassy in Kuwait stands ready to assist U.S. companies wishing to enter this potentially lucrative market.
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