Annual Report 2022 - The Beginning of a Journey of Transformation
SNAPSHOT OF KUWAIT'S ECONOMY
Key Economic Indicators
GCC GDP per capita (2023) (USD'000)**
84
(%
Population
2023
Inflation
Aug 2023
CBK Benchmark
Rate
4.3 million
3.82%
4.25%*
Evolution of oil price and Kuwait's - average daily
crude oil production
49
34
30
28
22
22
Qatar
UAE
Kuwait
KSA
Bahrain
Oman
Fiscal Oil price breakeven 2023 compared to
other GCC countries (USD/BI)***
Oil Price (USD/bl)
114.8
107.9
97.5
89.5
126
78.5
75.3
77.8
78.1 78.1 76.1
63.5
51.8
Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23
Average Crude Oil production (millions bbl/day)
81
72
2
71
56
45
45
2.9
2.9
2.9
3.0
2.7
2.7
2.7
2.4
2.6
2.7
2.7
Bahrain
KSA
Oman
Kuwait
UAE
Qatar
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023 F
14
*As of 26th July 2023 CBK Announcement
**GDP per Capita Source: IMF 2023
***Fiscal Oil Price Breakeven May 2023 Regional Economic Outlook (REO)View entire presentation