Kuwait: Macroeconomic Data And Forecasts

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Particulars 

1997 1998 1999 2000e    2001f 2002f
Nominal GDP(US$bn) 29.9 25.4 29.8 38.6 43.1 46.8
Nominal GDP growth(%of y/y) -.26 -14.5 17.2 27.7 12.0 8.5
Population(mn) 2.21 2.27 2.25 2.22 2.26 2.31
Budget balance (% of GDP) 5.5 -4.8 -13.6 10.8 4.1 4.7
CPI, an. Av. (% y/y) 0.68 0.12 1.90 3.31 2.38 2.33
WPI, an. av. (% of GDP)* 0.60 -1.64 -1.22 0.45 0.68 1.16
Exchange rate (KWD/US$,eop) 0.30 0.30 0.30 0.31 0.30 0.30
Oil production (mn b/d)* 2.15 2.19 2.02 2.15 2.20 2.25
Oil price (Opec bkt US$/b,ave) 18.77 12.28 17.47 27.60 24.00 18.00
Oil price (Kuwaiti export (US$/b,ave) 17.89 10.65 15.97 26.37 22.67 16.90
Oil export revenues (US$) 13.47 8.48 11.03 18.57 13.50 11.40
Exports (US$bn) 14.22 9.56 12.22 19.98 14.85 12.98
Imports (US$bn) 8.25 8.62 7.62 7.79 9.50 9.90
Trade balance (US$bn) 5.98 0.94 4.60 12.19 5.35 3.08
Current account balance (US$bn) 7.93 2.22 5.06 15.20 5.33 3.00
 % of  GDP 26.57 8.72 16.98 39.35 12.37 8.60
Foreign reserves (ex. Gold, US$bn) 3.45 3.95 4.82 7.08 9.00 9.80
Imports cover (months)*** 3.2 3.6 4.3 6.2 7.7 9.1
Financial year to end June . **includes 50% share of neutral zone.***no of months imports of good and
services covered by FX reserves plus gold.

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