Al-Shall Weekly report on Kuwait population, financial update
The latest data from the Public Authority for Civil Information on population and employment statistics, as of December 2023, revealed that Kuwait’s population reached approximately 4.86 million people by the end of 2023, marking a 2.6% increase from the previous year’s 4.73 million people.
The absolute increase in population during 2023 amounted to about 122.7 thousand people, compared to 351.2 thousand in 2022, indicating a growth of 8.0% in 2022, contrasting with a 6.1% decline in 2021, reports Al-Qabas daily.
In terms of Kuwaiti population, the report noted a growth of about 28.6 thousand people, or 1.9%, bringing the total to approximately 1.54 million people. However, the percentage of Kuwaitis within the total population decreased slightly from 32.04% to 31.82%.
Regarding employment, Kuwait’s total workforce reached approximately 3 million workers, comprising about 61.8% of the total population, with Kuwaitis representing 32.3% of their population. Notably, the percentage of female employment among Kuwaiti workers rose to 51.3% in 2023.
Meanwhile, the Ministry of Finance reported that total revenues collected until the end of December 2023 amounted to approximately 15.44 billion dinars, representing 79.3% of the total estimated revenues for the current fiscal year.
Actual oil revenues reached about 83.1% of the estimated amount, totaling approximately 14.275 billion dinars. On the expenditure side, disbursements totaled approximately 15.41 billion dinars by December 31, 2023, out of an estimated 26.279 billion dinars for the entire fiscal year, resulting in a deficit of about 1.72 billion dinars.
Moreover, the report highlighted growth in the number of buildings and units in Kuwait, with approximately 218 thousand buildings and 783.8 thousand units recorded by the end of December 2023.
In the banking sector, Al Ahli Bank of Kuwait reported profits of 45.4 million dinars for the year ending December 31, 2023, marking a significant increase from 2022, attributed to higher operating profits and decreased provisions.
