Economy of Kuwait
Kuwait city cityscape.jpg
Kuwait City skyline
CurrencyKuwaiti dinar (KWD)
1 April – 31 March
Trade organisations
WTO, OPEC and GCC
Country group
Statistics
PopulationIncrease 4,270,563 (2020)[3]
GDP
  • Decrease $132.266 billion (nominal, 2021 est.)[4]
  • Increase $208.786 billion (PPP, 2021 est.)[4]
GDP growth
  • 1.2% (2018) 0.7% (2019e)
  • 0.0% (2020f) 1.6% (2021f)[5]
GDP per capita
  • Decrease $32,373 (nominal, 2020 est.)[4]
  • Decrease $41,735 (PPP, 2020 est.)[4]
GDP by sector
agriculture (0.4%), industry (58.7%), services (40.9%) (2017 est.)[6]
0.579% (2018)[4]
Unemployment2.1% (2017 est.)[6]
Main industries
petroleum, petrochemicals, steelmaking, cement, shipbuilding and repair, desalination, food processing, construction materials
Increase 83rd (easy, 2020)[7]
External
Exports$40.16 billion (2020 est.)[8]
Export goods
oil and refined products, acyclic alcohols, motor cars and other motor vehicles, lightvessels, floating cranes, floating docks, dredgers[9]
Main export partners
 India(+) 1.6%
 China(+) 1.3%
 UAE(+) 1.1%
 Iraq(+) 0.9%
 Saudi Arabia(+) 0.8% (2020 est.)[9][10][11][12]
Imports$28.34 billion (2020 est.)[8]
Import goods
food, construction materials, vehicles and parts, clothing
Main import partners
 China(-) 16.7%
 United States(+) 8.7%
 UAE(+) 8.6%
 Japan(+) 5.9% (2020 est.)[9]
Negative increase$48.91 billion (31 December 2017 est.)[6]
Public finances
Negative increase13.74 (2021 est.)[13]
Revenues$24.97 billion (2020 est.)[6]
Expenses$71.58 billion (2020 est.)[6]
Economic aidN/A
Standard & Poor's:[14]
AA- (Domestic)
AA- (Foreign)
AA+ (T&C Assessment)
Outlook: Stable[15]
Moody's:[15]
Aa2
Outlook: Stable
Fitch:[15]
AA
Outlook: Stable
Main data source: CIA World Fact Book
All values, unless otherwise stated, are in US dollars.

The economy of Kuwait is a wealthy petroleum-based economy.[16] Kuwait is one of the richest countries in the world.[17][18][19] The Kuwaiti dinar is the highest-valued unit of currency in the world.[20] According to the World Bank, Kuwait is the fifth richest country in the world by gross national income per capita.[21] Kuwait's economy is the world's twentieth-largest by GDP per capita.[17] As a result of various diversification policies, petroleum now accounts for 43% of the total GDP and 70% of export earnings.[9] Steel manufacturing is Kuwait's second biggest industry.[22] Kuwait is self-sufficient in steel.[23][24][25][26]

In 2019, Kuwait's main export products were mineral fuels including oil (89.1% of total exports), aircraft and spacecraft (4.3%), organic chemicals (3.2%), plastics (1.2%), iron and steel (0.2%), gems and precious metals (0.1%), machinery including computers (0.1%), aluminum (0.1%), copper (0.1%), and salt, sulphur, stone and cement (0.1%).[27] Kuwait was the world's biggest exporter of sulfonated, nitrated and nitrosated hydrocarbons in 2019.[28] Kuwait was ranked 63rd out of 157 countries in the 2019 Economic Complexity Index (ECI).[28] Iraq was Kuwait's leading export market in 2019 and food/agricultural products accounted for 94.2% of total export commodities.[29]

Petroleum and natural gas

Main articles: Oil reserves in Kuwait and Petroleum industry in Kuwait

In 1934, the Emir of Kuwait granted an oil concession to the Kuwait Oil Co. (KOC), jointly owned by the Anglo-Persian Oil Company (later British Petroleum Company) and Gulf Oil Corporation In 1976, the Kuwaiti Government nationalized KOC.

The Kuwait Petroleum Corporation (KPC), an integrated international oil company, is the parent company of the government's operations in the petroleum sector, and includes Kuwait Oil Company, which produced oil and gas; Kuwait National Petroleum Co., refining and domestic sales; Petrochemical Industries Co., producing ammonia and urea; Kuwait Foreign Petroleum Exploration Co., with several concessions in developing countries; Kuwait Oil Tanker Co.; and Santa Fe International Corp. The latter, purchased outright in 1982, gives KPC a worldwide presence in the petroleum industry.

KPC also has purchased from Gulf Oil Co. refineries and associated service stations in the Benelux nations and Scandinavia, as well as storage facilities and a network of service stations in Italy. In 1987, KPC bought a 19% share in British Petroleum, which was later reduced to 10%. KPC markets its products in Europe under the brand Q8 and is interested in the markets of the United States and Japan.

Kuwait has about 94 billion barrels (14.9 km3) of recoverable oil reserves. Estimated capacity, before the war, was about 2.4 million barrels per day (380×10^3 m3/d). During the Iraqi occupation, Kuwait's oil-producing capacity was reduced to practically nothing. However, tremendous recovery and improvements have been made since. Oil production was 1.5 million barrels per day (240×10^3 m3/d) by the end of 1992, and pre-war capacity was restored in 1993. Kuwait's production capacity is estimated to be 2.5 million barrels per day (400×10^3 m3/d). Kuwait plans to increase its capacity to 3.5 million barrels per day (560×10^3 m3/d) by 2005.

Environmental sustainability

As part of Kuwait Vision 2035, Kuwait aims to position itself as a global hub for the petrochemical industry.[30][31] Al Zour Refinery is the largest refinery in the Middle East.[32][33][34] It is Kuwait's largest environmental friendly oil refinery.[35][30] Al Zour Refinery is a Kuwait-China cooperation project under the Belt and Road Initiative.[36]

Al Zour LNG Terminal is the Middle East's largest import terminal for liquefied natural gas.[37][38][39] It is the world's largest capacity LNG storage and regasification green field project.[40][41] The project has attracted investments worth US$3 billion.[42][43] Other megaprojects include biofuel and clean fuels.[44][45] Sulaibiya Wastewater Treatment Plant is the world's largest wastewater purification plant using membrane technology.[46][47][48][49][50] Umm Al Hayman Wastewater Treatment Plant is one of the world's largest ecologically sustainable sewage treatment plants.[51][52][53][54][55][56] With an estimated value of US$1.8 billion, it is a pioneering PPP megaproject.[51][57][52][58][55][56][59] It was the region's fourth largest megaproject awarded in 2020.[60]

Kuwait Environmental Remediation Programme (KERP) is the largest environmental remediation project in the world.[61][62][63] There are various other major infrastructure projects under Kuwait Vision 2035.[64][65] Kuwait is currently building the largest judicial building in the Middle East,[66][67][68] the new judicial complexes are environment friendly.[68][69][70][71][72] Other major landmark developments include KIPCO's Hessah Al Mubarak District.[66][73]

Renewable energy

As part of Kuwait Vision 2035, Kuwait inaugurated its largest renewable energy park, Shagaya Renewable Energy Park, which includes concentrated solar power, solar photovoltaic, and wind power plants.[74][75][76][77] The park consists of four phases with a target capacity of 4,000 MW.[78][75][79] It is set to be one of the largest renewable energy parks in the world.

Steel manufacturing

Steel manufacturing is Kuwait's second biggest industry.[22] United Steel Industrial Company (KWT Steel) is Kuwait's main steel manufacturing company, the company caters to all of Kuwait's domestic market demands (particularly construction).[23][24][25][26] Kuwait is self-sufficient in steel.[23][24][25][26]

Agriculture

In 2016, Kuwait's food self-sufficiency ratio was 49.5% in vegetables, 38.7% in meat, 12.4% in diary, 24.9% in fruits, and 0.4% in cereals.[80] 8.5% of Kuwait's entire territory consists of agricultural land, while arable land covers 0.6% of Kuwait's entire territory.[81][82] Historically, Jahra was a predominantly agricultural area. There are currently various farms in Jahra.[83]

In 2017, agriculture (including fisheries) accounted for almost 0.4 percent of the gross domestic product.[6] Around 4 percent of the economically active population works in agriculture, almost all foreigners.[84] The majority of farm owners are investors.[85] The total agricultural land covered 1,521 sq km in 2014.[85]

The agriculture industry is hampered by the limited water and arable land. The government has experimented in growing food through hydroponics and carefully managed farms. However, most of the soil which was suitable for farming in south central Kuwait was destroyed when Iraqi troops set fire to oil wells in the area and created vast "oil lakes". Fish and shrimp are plentiful in territorial waters, and largescale commercial fishing has been undertaken locally and in the Indian Ocean.

Finance

Kuwait has a leading position in the financial industry in the GCC.[86] The Emir has promoted the idea that Kuwait should focus its energies, in terms of economic development, on the financial industry.[86]

The historical preeminence of Kuwait (among the Gulf monarchies) in finance dates back to the founding of the National Bank of Kuwait in 1952.[86] The bank was the first local publicly traded corporation in the Gulf.[86] In the late 1970s and early 1980s, an alternative stock market, trading in shares of Gulf companies, emerged in Kuwait, the Souk Al-Manakh.[86] At its peak, its market capitalization was the third highest in the world, behind only the U.S. and Japan, and ahead of the UK and France.[86]

Kuwait has a large wealth-management industry that stands out in the region.[86] Kuwaiti investment companies administer more assets than those of any other GCC country, save the much larger Saudi Arabia.[86] The Kuwait Financial Centre, in a rough calculation, estimated that Kuwaiti firms accounted for over one-third of the total assets under management in the GCC.[86]

The relative strength of Kuwait in the financial industry extends to its stock market.[86] For many years, the total valuation of all companies listed on the Kuwaiti exchange far exceeded the value of those on any other GCC bourse, except Saudi Arabia.[86] In 2011, financial and banking companies made up more than half of the market capitalization of the Kuwaiti bourse; among all the Gulf states, the market capitalization of Kuwaiti financial-sector firms was, in total, behind only that of Saudi Arabia.[86] In recent years, Kuwaiti investment companies have invested large percentages of their assets abroad, and their foreign assets have become substantially larger than their domestic assets.[86]

Kuwait is a major source of foreign economic assistance to other states through the Kuwait Fund for Arab Economic Development, an autonomous state institution created in 1961 on the pattern of Western and international development agencies. Over the years aid was annually provided to Egypt, Syria, and Jordan, as well as the Palestine Liberation Organization. In 1974, the fund's lending mandate was expanded to include all developing countries in the world.

Reserve funds

Main article: Kuwait Investment Authority

The Kuwait Investment Authority (KIA) is Kuwait's sovereign wealth fund specializing in foreign investment. The KIA is the world's oldest sovereign wealth fund. Since 1953, the Kuwaiti government has directed investments into Europe, United States and Asia Pacific. In 2021, the holdings were valued at around $700 billion in assets.[87] It is the 3rd largest sovereign wealth fund in the world.[87][88]

The KIA manages two funds: the General Reserve Fund (GRF) and Future Generations Fund (FGF).[89] The GRF is the main treasurer for the government.[89] It receives all state revenues and all national expenditures are paid out of this fund.[89] The KIA does not disclose its financial assets in public, but it is estimated that the KIA has $410 billion in assets as of February 2014.

The KIA was the main source of capital for the Kuwaiti government during the Gulf War. The Kuwaiti government relied on the KIA to pay for coalition expenses and postwar reconstruction.[90] The KIA was worth $100 billion prior to 1990, KIA funds were depleted to $40–$50 billion after the Gulf War.

Future Generations Fund

The Future Generations Fund (FGF) was created in 1976 by transferring 50% from the general reserve fund at that time. The FGF is a saving funds for future generations. 25% of all state revenues are annually transferred to the fund.[91]

All of the FGF is invested abroad, with an estimated 75% invested in the US and Europe and the rest in emerging markets, mainly China and India.

Science and technology

Kuwait has a growing scientific research sector. According to the United States Patent and Trademark Office, Kuwait has registered 448 patents as of 31 December 2015,[92] Kuwait is the second largest patent producer in the Arab world.[92][93][94][95] In the early 2010s, Kuwait produced the largest number of scientific publications and patents per capita in the Arab world and OIC.[96][97][98][99][100] The Kuwaiti government has implemented various programs to foster innovation resulting in patent rights.[97][96] Between 2010 and 2014, Kuwait registered the highest growth in patents in the Arab world.[97][96][94] The WIPO Global Innovation Index found that Kuwait ranks relatively high for its innovation efficiency ratio (which shows how much innovation output a country is getting for its inputs).[101]

Kuwait was the first country in the region to implement 5G technology.[102] Kuwait is among the world's leading countries in 5G penetration.[102][103] The Chinese company Huawei has a $1.7 billion investment license in Kuwait to develop the country's ICT sector in line with the Kuwait Vision 2035 strategy.[104]

Space

Kuwait Space Rocket.

Kuwait has an emerging space industry driven by the private sector.[105]

Kuwait's first satellite

Kuwait's Orbital Space in collaboration with the Space Challenges Program[106] and EnduroSat[107] introduced an international initiative called "Code in Space". The initiative allows students from around the world to send and execute their own code in space.[108] The code is transmitted from a satellite ground station to a cubesat (nanosatellite) orbiting earth 500 km (310 mi) above sea level. The code is then executed by the satellite's onboard computer and tested under real space environment conditions. The nanosatellite is called "QMR-KWT" (Arabic: قمر الكويت) which means "Moon of Kuwait", translated from Arabic.[109]

QMR-KWT launched to space on 30 June 2021[110] on SpaceX Falcon 9 Block 5 rocket and was part of the payload of a satellite carrier called ION SCV Dauntless David by D-Orbit.[111] It was deployed into its final orbit (Sun-synchronous orbit) on 16 July 2021.[112] QMR-KWT is Kuwait's first satellite.[110][113][109]

Um Alaish 4

Seven years after the launch of the world's first communications satellite, Telstar 1, Kuwait in October 1969 inaugurated the first satellite ground station in the Middle East, "Um Alaish".[114] The Um Alaish satellite station complex housed several satellite ground stations including Um Alaish 1 (1969), Um Alaish 2 (1977), and Um Alaish 3 (1981). It provided satellite communication services in Kuwait until 1990 when it was destroyed by the Iraqi armed forces during the Iraqi invasion of Kuwait.[115] In 2019, Kuwait's Orbital Space established an amateur satellite ground station to provide free access to signals from satellites in orbit passing over Kuwait. The station was named Um Alaish 4 to continue the legacy of "Um Alaish" satellite station.[116] Um Alaish 4 is member of FUNcube distributed ground station network[117] and the Satellite Networked Open Ground Station project (SatNOGS).[118]

Kuwait Space Rocket

Main article: Kuwait Space Rocket

The Kuwait Space Rocket (KSR) is a Kuwaiti project to build and launch the first suborbital liquid bi-propellant rocket in Arabia.[119] The project is divided into two phases with two separate vehicles: an initial testing phase with KSR-1 as a test vehicle capable of reaching an altitude of 8 km (5.0 mi) and a more expansive suborbital test phase with the KSR-2 planned to fly to an altitude of 100 km (62 mi).[120]

TSCK experiment in space

Kuwait's Orbital Space in collaboration with the Kuwait Scientific Center (TSCK) introduced for the first time in Kuwait the opportunity for students to send a science experiment to space. The objectives of this initiative was to allow students to learn about (a) how science space missions are done; (b) microgravity (weightlessness) environment; (c) how to do science like a real scientist. This opportunity was made possible through Orbital Space agreement with DreamUp PBC and Nanoracks LLC, which are collaborating with NASA under a Space Act Agreement.[121] The students' experiment was named "Kuwait’s Experiment: E.coli Consuming Carbon Dioxide to Combat Climate Change".[122] The experiment was launched on SpaceX CRS-21 (SpX-21) spaceflight to the International Space Station (ISS) on 6 December 2020. Astronauts Shannon Walker (member of the ISS Expedition 64) conducted the experiment on behalf of the students.

National satellite project

In July 2021, Kuwait University announced that it is launching a national satellite project as part of state-led efforts to pioneer the country's sustainable space sector.[123][124]

Health

Further information: Health in Kuwait

Kuwait has a state-funded healthcare system, which provides treatment without charge to Kuwaiti nationals. There are outpatient clinics in every residential area in Kuwait. A public insurance scheme exists to provide reduced cost healthcare to expatriates. Private healthcare providers also run medical facilities in the country, available to members of their insurance schemes. As part of Kuwait Vision 2035, many new hospitals have opened.[125][126][127] In the years leading up to the COVID-19 pandemic, Kuwait invested in its health care system at a rate that was proportionally higher than most other GCC countries.[128] As a result, the public hospital sector significantly increased its capacity.[127][125][126] Kuwait currently has 20 public hospitals.[129][126] The new Sheikh Jaber Al-Ahmad Hospital is considered the largest hospital in the Middle East.[130] Kuwait also has 16 private hospitals.[125]

Entrepreneurship

In the past five years, there has been a significant rise in entrepreneurship and small business start-ups in Kuwait.[131][132] The informal sector is also on the rise,[133] mainly due to the popularity of Instagram businesses.[134][135][136] In 2020, Kuwait ranked fourth in the MENA region in startup funding after the UAE, Egypt and Saudi Arabia.[137]

Many Kuwaiti entrepreneurs use the Instagram-based business model.[138]

Tourism

Main article: Tourism in Kuwait

In 2020, Kuwait's domestic travel and tourism spending reached $6.1 billion (up from $1.6 billion in 2019) with family tourism a rapidly growing segment.[139] The WTTC named Kuwait as one of the world's fastest-growing countries in travel and tourism GDP in 2019, with 11.6% year-on-year growth.[139] In 2016, the tourism industry generated nearly $500 million in revenue.[140] In 2015, tourism accounted for 1.5 percent of the GDP.[141][142]

The Amiri Diwan recently inaugurated the new Kuwait National Cultural District (KNCD), which comprises Sheikh Abdullah Al Salem Cultural Centre, Sheikh Jaber Al Ahmad Cultural Centre, Al Shaheed Park, and Al Salam Palace.[143][144] With a capital cost of more than US$1 billion, the project is one of the largest cultural investments in the world.[144] In November 2016, the Sheikh Jaber Al Ahmad Cultural Centre opened.[145] It is the largest cultural centre and opera house in the Middle East.[146][147] The Kuwait National Cultural District is a member of the Global Cultural Districts Network.[148] The annual "Hala Febrayer" festival attracts many tourists from neighboring GCC countries,[149] and includes a variety of events including music concerts, parades, and carnivals.[149][150][151] The festival is a month-long commemoration of the liberation of Kuwait, and runs from 1 to 28 February. Liberation Day itself is celebrated on 26 February.[152]

Transport

Main article: Transport in Kuwait

A highway in Kuwait City
A highway in Kuwait City

Kuwait has an extensive and modern network of highways. Roadways extended 5,749 km (3,572 mi), of which 4,887 km (3,037 mi) is paved. There are more than 2 million passenger cars, and 500,000 commercial taxis, buses, and trucks in use. On major highways the maximum speed is 120 km/h (75 mph). Since there is no railway system in the country, most people travel by automobiles.

The country's public transportation network consists almost entirely of bus routes. The state owned Kuwait Public Transportation Company was established in 1962. It runs local bus routes across Kuwait as well as longer distance services to other Gulf states.[153] The main private bus company is CityBus, which operates about 20 routes across the country. Another private bus company, Kuwait Gulf Link Public Transport Services, was started in 2006. It runs local bus routes across Kuwait and longer distance services to neighbouring Arab countries.[154]

There are two airports in Kuwait. Kuwait International Airport serves as the principal hub for international air travel. State-owned Kuwait Airways is the largest airline in the country. A portion of the airport complex is designated as Al Mubarak Air Base, which contains the headquarters of the Kuwait Air Force, as well as the Kuwait Air Force Museum. In 2004, the first private airline of Kuwait, Jazeera Airways, was launched.[155] In 2005, the second private airline, Wataniya Airways was founded.

Kuwait has one of the largest shipping industries in the region. The Kuwait Ports Public Authority manages and operates ports across Kuwait. The country’s principal commercial seaports are Shuwaikh and Shuaiba which handled combined cargo of 753,334 TEU in 2006.[156] Mina Al-Ahmadi, the largest port in the country, handles most of Kuwait's oil exports.[157] Mubarak Al Kabeer Port in Bubiyan Island is currently under construction. The port is expected to handle 2 million TEU when operations start.

Macro-Economic

The following table shows the main economic indicators in 1980–2017.[158]

Year 1980 1985 1990 1995 2000 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
GDP in $
(PPP)
45.32 Bln. 45.49 Bln. 52.04 Bln. 94.48 Bln.. 112.87 Bln. 187.25 Bln. 207.52 Bln. 225.81 Bln. 235.95 Bln. 220.92 Bln. 218.31 Bln. 247.18 Bln. 271.51 Bln. 276.91 Bln. 283.63 Bln. 283.83 Bln. 293.76 Bln. 291.48 Bln.
GDP per capita in $
(PPP)
33,082 26,759 24,435 48,207 50,908 62,601 65,197 66,422 68,553 63,392 60,947 66,853 71,326 71,150 70,217 66,956 68,540 66,163
GDP growth
(real)
−20.4% −4.3% −26.6% 1.7% 4.7% 10.1% 7.5% 6.0% 2.5% −7.1% −2.4% 10.9% 7.9% 0.4% 0.6% −1.0% 2.2% −2.5%
Inflation
(in Percent)
6.9% 1.5% 15.8% 2.5% 1.6% 4.1% 3.1% 5.5% 6.3% 4.6% 4.5% 4.9% 3.2% 2.7% 3.2% 3.7% 3.5% 1.5%
Government debt
(Percentage of GDP)
... ... ... 78% 35% 12% 8% 7% 5% 7% 6% 5% 4% 3% 3% 5% 10% 21%

See also

References

  1. ^ "Kuwait's Move from Frontier to Emerging Market". 14 December 2020.
  2. ^ "World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Retrieved 29 September 2019.
  3. ^ https://data.worldbank.org/indicator/SP.POP.TOTL?locations=KW&most_recent_value_desc=true[bare URL]
  4. ^ a b c d e "World Economic Outlook Database, October 2021". IMF.org. International Monetary Fund. Retrieved 3 November 2021.
  5. ^ "Middle East and North Africa Economic Update, April 2020 : How Transparency Can Help the Middle East and North Africa". openknowledge.worldbank.org. World Bank. p. 10. Retrieved 10 April 2020.
  6. ^ a b c d e f "Kuwait". The World Factbook. Central Intelligence Agency (CIA). 2018. Retrieved 21 April 2018.
  7. ^ "Ease of Doing Business in Kuwait". Doingbusiness.org. Retrieved 24 November 2017.
  8. ^ a b IMF.org https://trendeconomy.com/data/h2/Kuwait/TOTAL. Retrieved 3 November 2020. ((cite web)): Missing or empty |title= (help)
  9. ^ a b c d "Foreign Trade in Figures". Kuwait exports to a wide number of countries, the main ones being India (1.6%), China (1.3%), United Arab Emirates (1.1%), Iraq (0.9%) and Saudi Arabia (0.8%). Kuwait’s largest suppliers are China (16.7%), the United States (8.7%), the UAE (8.6%) and Japan (5.9%).
  10. ^ "Kuwait: Trade Statistics".
  11. ^ "Kuwait: Imports and Exports".
  12. ^ "Kuwait, Trade with World" (PDF). European Union. p. 8.
  13. ^ "Import Partners of Kuwait". CEIC Data. 2018. Retrieved 21 April 2018.
  14. ^ "Sovereigns rating list". Standard & Poor's. Retrieved 26 May 2011.
  15. ^ a b c Rogers, Simon; Sedghi, Ami (15 April 2011). "How Fitch, Moody's and S&P rate each country's credit rating". The Guardian. Retrieved 31 May 2011.
  16. ^ "Kuwait". The World Factbook. Central Intelligence Agency. 10 April 2015.
  17. ^ a b "GDP per capita, PPP (current international $)", World Development Indicators database, World Bank. Database updated on 14 April 2015.
  18. ^ GDP – per capita (PPP), The World Factbook, Central Intelligence Agency.
  19. ^ Economic Outlook Database, October 2015, International Monetary Fund. Database updated on 6 October 2015.
  20. ^ "10 Most Valuable Currencies in the World". Silicon India. 21 March 2012.
  21. ^ Grant Suneson (7 July 2019). "These are the 25 richest countries in the world". USA Today.
  22. ^ a b "Faisal Awwad Al Khaldi: Go Big or Go Home". The Business Year. 2019.
  23. ^ a b c "KWT Steel: Our ultimate goal is to become a fully-integrated steel manufacturer". Steel Orbis. 13 November 2018.
  24. ^ a b c "United Steel Industries covers Kuwait's demand for steel -- Chairman". Kuwait News Agency. 6 February 2007.
  25. ^ a b c "New rebar capacity coming up in Kuwait". Steel Orbis. 19 November 2019.
  26. ^ a b c "United Steel Industrial Co. (KWTSTEEL)". Epicos. 19 August 2019.
  27. ^ "Kuwait's Top 10 Exports".
  28. ^ a b "Kuwait". The Observatory of Economic Complexity.
  29. ^ "Kuwait: Market Profile". Hong Kong Trade Development Council. 30 April 2021.
  30. ^ a b Ellie Pritchard (22 June 2021). "Al-Zour: Kuwait's vision of becoming an international hub in the Middle East". Valve World.
  31. ^ "KUWAIT: An Introduction". Chambers and Partners.
  32. ^ "Sinopec completes main unit of the Middle East's largest refinery". Hydrocarbon Processing. 16 December 2019.
  33. ^ "Largest Refinery Project in the Middle East". Process Worldwide. 24 August 2016.
  34. ^ "Start-up of Kuwait's al-Zour refinery still months off". Argus Media. 16 March 2021.
  35. ^ Talal Aljiran; Walid Alkandari (13 October 2019). "Site Preparation & Soil remediation for Kuwait's Largest Environmental Friendly oil Refinery, by Utilizing Dredging & Soil Compaction". OnePetro. doi:10.2118/198101-MS. S2CID 210318313.((cite journal)): CS1 maint: multiple names: authors list (link)
  36. ^ "Feature: Kuwait's refinery project showcases Chinese concept of "win-win cooperation"". Xinhua News Agency. 14 December 2019.
  37. ^ "Kuwait Aims to Finish Middle East's Biggest LNG Terminal by March". Bloomberg. 15 September 2020.
  38. ^ "Middle East's Largest Import Terminal for Liquefied Natural Gas". Cosmopolitan Daily. 21 September 2020.
  39. ^ Alex Siow (2 October 2020). "Kuwait LNG import to rival Pakistan in three years". ICIS.
  40. ^ "AL-ZOUR LNG IMPORT PROJECT". Denso. 2020.
  41. ^ "Liquefied Natural Gas Import Facility (LNGI)". KIPIC. 2021.
  42. ^ "Al-Zour Project". NES Fircroft. 2021.
  43. ^ "Al-Zour LNG Import Terminal Project, Kuwait". Hydrocarbons Technology. 2017.
  44. ^ "Kuwait completes work on $16bn Clean Fuels Project". Argus Media. 30 May 2021.
  45. ^ "Kuwait completes biofuel project". Kuwait News Agency. 27 May 2021.
  46. ^ "Sulaibiya sewage plant". MEED. 2 May 2017. The Sulaibiya wastewater treatment plant is the largest facility in the world to use energy-efficient reverse osmosis and ultrafiltration membrane technology
  47. ^ "Kuwait-based wastewater treatment plant to become world's largest facility of its kind". Water Technology Online. 18 February 2015.
  48. ^ "Sulaibiya to be world's largest RO treatment plant". Utilities Middle East. 17 February 2015.
  49. ^ "Kuwait's Sulaibiya Plant to Set New Global Benchmark after Upgrade with GE's Advanced Water Reuse Technology". Global News Wire. 17 February 2015.
  50. ^ "Sulaibiya Wastewater Treatment". Water Technology.
  51. ^ a b "Hogan Lovells advises on financial close for Kuwait's megaproject Umm Al-Hayman". Hogan Lovells. 19 August 2020.
  52. ^ a b "KfW IPEX-Bank, Al Ahli Bank of Kuwait and the Commercial Bank of Kuwait finance Umm Al Hayman wastewater treatmant plant". KfW IPEX-Bank. 29 January 2019.
  53. ^ "Umm Al Hayman Project". UAHPC. 2021.
  54. ^ "أحمد الصالح لـ الجريدة•: توسعة "أم الهيمان" تضع الكويت على خريطة المياه العالمية". Al-Jarida (in Arabic). 25 December 2020.
  55. ^ a b "Umm Al Hayman Wastewater Project". WTE Wassertechnik. 2 June 2020.
  56. ^ a b "Kuwait: Wastewater Treatment". The Business Year. 2020.
  57. ^ "WTE Wassertechnik GmbH's UMM AL Hayman Kuwait Project". Lawyer Monthly. 30 June 2021.
  58. ^ "ASAR – Al Ruwayeh & Partners act as Kuwait Legal counsel to the consortium of WTE Wassertechnik GMBG and International Financial Advisors Holdings KSCP on the UMM Al Hayman Wastewater Treatment Plant PPP Project in Kuwait". Al Ruwayeh & Partners (ASAR). 7 February 2020.
  59. ^ "GCC Projects Market Update" (PDF). Kamco Invest. 30 May 2021. p. 4.
  60. ^ "GCC Projects Market Update" (PDF). Kamco Invest. 30 May 2021. p. 3.
  61. ^ Wil Crisp (3 June 2021). "Kuwait awards remediation scheme contracts". MEED.
  62. ^ "Kuwait Quarterly Newsletter - Issue 17" (PDF). RSM International. 9 May 2021. p. 17. KERP is the largest environmental remediation project in the world
  63. ^ Wil Crisp (18 November 2020). "Contractors submit Kuwait remediation bids". MEED.
  64. ^ "New Kuwait (Kuwait Vision 2035)". New Kuwait.
  65. ^ "Al-Zour refinery strategic project of Kuwait 2035 Vision". Kuwait News Agency (KUNA). 1 May 2017.
  66. ^ a b "Eyeing the private sector". Gulf Construction. 1 June 2021.
  67. ^ "Kuwait Quarterly Newsletter – Issue 3" (PDF). RSM International. 4 November 2020. p. 15.
  68. ^ a b Ranju Warrier (18 February 2021). "Pace on being a 'repeat choice' for judicial complexes' projects". Construction Week.
  69. ^ "Smart Kuwait courts complex ready". Gulf Construction. 1 March 2021.
  70. ^ "New Kuwait court complexes opened". Trade Arabia. 2 June 2016.
  71. ^ "GSAS to be adopted in Kuwait following a strategic partnership between GORD and NTEC". e-mc2.gr. 18 April 2019.
  72. ^ "Pace delivers Hawalli Smart Courts Complex in Kuwait". Design Middle East. 14 February 2021.
  73. ^ "Landmark set to dominate horizon". Gulf Construction. 1 June 2021.
  74. ^ "Kuwait launches Phase One of Shagaya Renewable Energy Park". ME Construction News. 24 February 2019.
  75. ^ a b "Kuwait Solar Energy Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021–2026)". Mordor Intelligence. 2021.
  76. ^ "Shagaya power plant 1st phase launched". Kuwait News Agency (KUNA). 20 February 2019.
  77. ^ "First Phase Of Kuwait's Shagaya Renewable Energy Park Launched". Utilities Middle East. 25 February 2019.
  78. ^ "PROJECTS: Kuwait to invite consultancy bids for renewable energy project". Zawya. 18 May 2021.
  79. ^ "Kuwait extends renewable advisory deadline". MEED. 23 June 2021. Various phases of the Shagaya renewable energy project will have a combined capacity of 4GW once completed
  80. ^ "Food self-sufficiency ratio in Kuwait in 2016, by type". Statista. 26 August 2020.
  81. ^ Choi Moon-hee (18 May 2021). "South Korean Companies Building Smart Farms in the Middle East". Business Korea.
  82. ^ "Land use - The World Factbook - CIA".
  83. ^ Farmers of Jahra
  84. ^ "Employment in agriculture (% of total employment) (modeled ILO estimate) | Data". data.worldbank.org. Retrieved 24 April 2018.
  85. ^ a b "general profile". Food and Agriculture Organization of the United Nations. Retrieved 22 April 2018.
  86. ^ a b c d e f g h i j k l m Herb, Michael (18 December 2014). The Wages of Oil: Parliaments and Economic Development in Kuwait and the UAE. Michael Herb. ISBN 9780801454684.
  87. ^ a b "SWFI". 16 July 2021.
  88. ^ "World's Oldest Wealth Fund Swells to Record and Cracks the Top 3". Bloomberg. 2 July 2021.
  89. ^ a b c "Fund Profile: Kuwait Investment Authority (KIA)" (PDF). pp. 1–3.
  90. ^ "The Vital Role of Sovereign Wealth Funds in the GCC's Future".
  91. ^ "Kuwait's Future Generations Fund" (PDF). p. 2.
  92. ^ a b "Patents By Country, State, and Year – All Patent Types". United States Patent and Trademark Office. Archived from the original on 3 March 2016. Retrieved 12 March 2016.
  93. ^ "Arab World to have more than 197 million Internet users by 2017, according to Arab Knowledge Economy Report". Archived from the original on 29 November 2014. To date, the United States Patent and Trademark Office (USPTO) have granted 858 patents to the Kingdom of Saudi Arabia, positioning it 29th in the world. Kuwait is at second place with 272 patents and Egypt at third with 212 patents, so far
  94. ^ a b "Arab Economy Knowledge Report 2014" (PDF). pp. 20–22. Archived from the original (PDF) on 29 November 2014.
  95. ^ "UNESCO Science Report 2005" (PDF). p. 162. Archived (PDF) from the original on 7 December 2014.
  96. ^ a b c "A Mixed Bag of Scientific Commitment". MIT Technology Review. Archived from the original on 13 July 2016. Retrieved 12 March 2016.((cite web)): CS1 maint: bot: original URL status unknown (link)
  97. ^ a b c "Kuwait Sees Fastest Growth of GCC Countries in Obtaining U.S. Patents". Yahoo News. Archived from the original on 9 April 2016. Retrieved 12 March 2016.
  98. ^ "Regional Profile of the Information Society in Western Asia" (PDF). p. 53. Archived (PDF) from the original on 22 August 2017.
  99. ^ "Arab states" (PDF). pp. 264–265. Archived (PDF) from the original on 11 October 2016.
  100. ^ "Science and Technology in the OIC Member Countries" (PDF). p. 7. Archived from the original (PDF) on 20 December 2014.
  101. ^ "Analysis of Patenting in Kuwait" (PDF). KFAS. August 2020. p. 5.
  102. ^ a b "5G's role in transforming Kuwait into a digital economy". Analysys Mason. 25 January 2021.
  103. ^ "UK ranked sixth in global 5G market, according to OMDIA". RealWire. 4 June 2020.
  104. ^ Rana Freifer (11 July 2017). "The internet of things is rising in Kuwait". Wamda.
  105. ^ "The Emerging Space Industry in Kuwait". Euro-Gulf Information Centre. 1 February 2021.
  106. ^ "Space Challenges Program | www.spaceedu.net". Space Challenges. Retrieved 7 August 2020.
  107. ^ "EnduroSat – Class-leading CubeSat Modules, NanoSats & Space Services". CubeSat by EnduroSat. Retrieved 7 August 2020.
  108. ^ "Code In Space!". ORBITAL SPACE. Retrieved 7 August 2020.
  109. ^ a b "Orbital Space confirms June 24 launch date for Kuwait's first CubeSat". Arab Space News. 10 June 2021. Archived from the original on 13 June 2021.
  110. ^ a b "Kuwait's first Satellite launched into space". Kuwait News Agency. 30 June 2021.
  111. ^ "D-Orbit's Coming Up With A WILD RIDE Via Their ION Satellite Carrier – SatNews". news.satnews.com. Retrieved 23 September 2021.
  112. ^ "WILD RIDE MISSION UPDATES". D-Orbit. Retrieved 23 September 2021.
  113. ^ "Momentus and EnduroSat sign two launch agreements". SpaceNews. 16 June 2020. Retrieved 7 August 2020.
  114. ^ Kuwait News Agency, KUNA (28 October 2001). "UM AL-AISH" SATELLITE STATION, THE FIRST IN THE MIDDLE EAST". Retrieved 7 August 2020.
  115. ^ "Kuwait scraps obsolete satellite station". ArabianBusiness.com. Retrieved 7 August 2020.
  116. ^ "Um AlAish 4". ORBITAL SPACE. Retrieved 7 August 2020.
  117. ^ "Ranking · AMSAT-UK Data Warehouse". warehouse.funcube.org.uk. Retrieved 7 August 2020.
  118. ^ "SatNOGS Network – Ground Station Um Alaish 4". network.satnogs.org. Retrieved 7 August 2020.
  119. ^ "Kuwaiti youth eager to put country on space exploration map". Kuwait News Agency (KUNA). 24 September 2018. Retrieved 14 February 2020.
  120. ^ "ناصر أشكناني لـ"السياسة": صاروخ فضائي كويتي يضعنا في الدول المتقدمة". السياسة جريدة كويتية يومية | Al SEYASSAH Newspaper (in Arabic). Archived from the original on 12 February 2020. Retrieved 14 February 2020.
  121. ^ "Space Month". services.tsck.org.kw. Retrieved 1 March 2021.
  122. ^ "ExperimentsInSpace". Orbital Space. Retrieved 1 March 2021.
  123. ^ "Kuwait University reveals work for sustainable space sector". Kuwait News Agency. 12 July 2021.
  124. ^ "تمديد التسجيل للدفعة 2 في مشروع القمر الاصطناعي الكويتي إلى 15 الجاري". Al-Anba (in Arabic). 13 July 2021.
  125. ^ a b c "Kuwait 2020 Health Infrastructure Report". 4 April 2020.
  126. ^ a b c "Healthcare Infrastructure in Kuwait: On Solid Footing". 2017.
  127. ^ a b "Mega-projects boost hospital capacity in Kuwait". Oxford Business Group. 2016. Archived from the original on 20 December 2016.
  128. ^ "Covid-19 Response Report Kuwait" (PDF). Oxford Business Group. 26 March 2021. p. 6.
  129. ^ Ali, Hayfaa; Ibrahem, Samaa Zenhom; Al Mudaf, Buthaina; Al Fadalah, Talal; Jamal, Diana; El-Jardali, Fadi (March 2018). "Baseline assessment of patient safety culture in public hospitals in Kuwait". BMC Health Services Research. 18 (1): 5. doi:10.1186/s12913-018-2960-x. ISSN 1472-6963. PMC 5840785. PMID 29510705. There are 20 public hospitals in Kuwait, however, we selected 16 hospitals as the remaining facilities had only recently been established and as such did not meet our inclusion criteria as detailed below.
  130. ^ "MidEast's largest hospital to open in Kuwait by end of 2016". 2016. Archived from the original on 13 December 2016.
  131. ^ Al-Kharafi, Naeimah (12 October 2014). "Encouraging social entrepreneurship in Kuwait – Special report". Kuwait Times. Archived from the original on 29 November 2014.
  132. ^ Saltzman, Jason (11 November 2014). "Keeping Up With Kuwaiti Connection: The Startup Circuit In Kuwait Is Up And At 'Em". Entrepreneur Middle East. Archived from the original on 24 November 2014.
  133. ^ Etheridge, Jamie (27 February 2014). "What's behind the growth of Kuwait's informal economy". Kuwait Times. Archived from the original on 29 November 2014.
  134. ^ Greenfield, Rebecca (12 July 2013). "In Kuwait, Instagram Accounts Are Big Business". The Wire: News for the Atlantic. Archived from the original on 29 November 2014.
  135. ^ Kuo, Lily; Foxman, Simone (16 July 2013). "A rising class of Instagram entrepreneurs in Kuwait is selling comics, makeup and sheep". Quartz. Archived from the original on 23 November 2014.
  136. ^ "Kuwait's booming Instagram economy". kottke.org. 12 July 2013. Archived from the original on 29 November 2014.
  137. ^ Chloe Domat (February 2021). "Kuwait: Crisis Complicates Reform". Global Finance.
  138. ^ al-Wazir, Yara (23 August 2014). "How Kuwaitis are Instagramming a business revolution". Al Arabiya News.
  139. ^ a b "RLA hailed for expertise on Kuwait development". Hospitality Net. 23 February 2021. In 2020, domestic travel and tourism spending for Kuwait reached $6.1bn, up from $1.6bn, with family tourism a rapidly-growing segment.
  140. ^ "Kuwait tenth in total Arab countries' tourism revenue". 27 August 2016. Archived from the original on 28 August 2016.
  141. ^ "Travel & Tourism Economic Impact 2015" (PDF). World Travel & Tourism Council. Archived from the original (PDF) on 11 October 2016.
  142. ^ "Kuwait's investments in travel and tourism sector to grow by 4.3% per annum". BQ Magazine. Archived from the original on 21 September 2016.
  143. ^ "Kuwait National Cultural District".
  144. ^ a b "Kuwait National Cultural District Museums Director" (PDF). 28 August 2017. Archived from the original (PDF) on 25 January 2018.
  145. ^ "Kuwait unveils $775M Sheikh Jaber Al Ahmad Cultural Centre". 7 December 2016. Archived from the original on 27 December 2016.
  146. ^ Sheikh Jaber Al-Ahmad Cultural Centre New Kuwait.
  147. ^ "أمير الكويت يدشن أكبر مركز ثقافي في الشرق الأوسط.. و4 جواهر تضيء شاطئ الخليج". Oman Daily (in Arabic). Archived from the original on 29 August 2017.
  148. ^ "Current Members – Global Cultural Districts Network". Global Cultural Districts Network.
  149. ^ a b "Hala February kicks off with a bang". Kuwait Times. 29 January 2016. Archived from the original on 13 September 2016.
  150. ^ "Hala Febrayer 2016 Carnival attracts thousands of participants". Al Bawaba. Archived from the original on 11 September 2016.
  151. ^ "Ooredoo Sponsors Kuwait's Biggest Annual Festival". 17 January 2016. Archived from the original on 11 October 2016.
  152. ^ "Flag-hoisting ceremony signals start of Kuwait national celebrations of 2017". Kuwait Times. 3 February 2017. Archived from the original on 3 February 2017. Retrieved 25 February 2017.
  153. ^ "Public Transport Services". Kuwait Public Transportation Company. Retrieved 17 March 2015.
  154. ^ "Public Transport Services". KGL. Archived from the original on 2 February 2011.
  155. ^ "First flight for Kuwait's Jazeera Airways". The Seattle Times. 31 October 2005.
  156. ^ "Kuwait's ports continue to break records – Transportation". ArabianBusiness.com. 4 June 2007. Retrieved 28 June 2015.
  157. ^ John Pike. "Mina Al Ahmadi, Kuwait". Globalsecurity.org. Retrieved 28 June 2015.
  158. ^ "Report for Selected Countries and Subjects". Retrieved 8 September 2018.