A recent study by Harvard University has ranked Kuwait as the 30th richest economy worldwide in terms of GDP per capita, among 145 countries included in the assessment.
According to the report, Kuwait’s GDP per capita reached $31,971, while its value rises significantly to $51,322 when adjusted for purchasing power parity (PPP), based on the 2024 PPP standard.
The figures highlight the country’s strong income levels and relatively high standard of living compared with many global economies.
Despite this ranking, the study noted a slowdown in economic momentum.
Average per capita GDP growth declined by 2.5 percent over the past five years, placing Kuwait below the average growth rates recorded across the region, reports Al-Rai daily.
In terms of economic structure, the report indicated that Kuwait’s total merchandise exports amounted to $61.9 billion in 2024. However, exports have contracted at an average annual rate of 3.3 percent during the last five years, reflecting fluctuations largely linked to global energy markets.
Non-oil exports showed more positive performance, expanding at an annual rate of 3.6 percent over the same period — a pace exceeding the global average growth rate and signaling gradual diversification within the export sector.
Meanwhile, imports totaled $61.2 billion in 2024, allowing Kuwait to maintain a trade surplus across both goods and services, supported by continued external demand and stable trade flows.
The findings underline Kuwait’s continued position among high-income economies, while also pointing to the need for stronger growth drivers and further diversification to sustain long-term economic expansion.
