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Country Profile - Kuwait

  • July 2015
  • 58 pages
  • Frost & Sullivan
Report ID: 3161455

Summary

Table of Contents

A country profile is an instant guide to the political, economic, demographic, industrial, and business environment of a market. The report provides a range of quantitative and qualitative information on a variety of national aspects including geography, economy, education, demography, labor, political climate, infrastructure, industry, tax, trade, investment and ease of doing business. It also provides a PESTLE analysis of a country’s business climate. The country profile can be an effective tool for businesses in their marketing, strategy and planning exercises.

Executive summary
- Located at the head of the Persian Gulf between Iraq and Saudi Arabia, Kuwait enjoys strategic importance.
- Revenue from petroleum products are the cornerstone of the Kuwaiti economy accounting for over half of GDP, percent of export revenues, and percent of government income.
- Kuwait is a oil money-funded welfare state with increasing budget expenditures, particularly on wage hikes for public sector employees.
- Agriculture comprised percent of GDP while industry’s share was percent and the share of services was % (2014). Considering the overall domestic political tensions of the economy, the average growth will be around percent over the period 2015-20.
- Large investments in the energy sector between 2015 and 2018 including the Al Zour refinery and the Clean Fuels project modernise existing refineries and transport will aid growth.
- Under Kuwait Vision 2035, The Kuwaiti government aims to establish a new ideology for strategic planning and visions as well as to transform the country into a financial and international hub. Kuwait enjoys a relatively liberal trade regime with open markets and flexible policies.
- In comparison to all other countries in the Middle East region, Kuwait has done little to diversify its economy and is hindered by a poor business climate and an acrimonious relationship between the National Assembly and the executive branch that has stymied economic reforms.

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