Page 38 - Kuwait-Three-Years-Business-Outlook-2019-2020-2021
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Mega Projects – MEED Projects
KHOA
➢ According to MEED Projects like most other GCC markets, contracts awards in Kuwait fell again in 2018.
➢ The total of $5.5bn was the lowest in more than a decade, and dispelled hopes that a pick-up in oil prices would result in greater project
spending last year
➢ More than 90 per cent of government income and over 40 per cent of GDP is derived from oil exports. The oil & gas is the largest single
sector followed by financial intermediation, real estate and business in their contribution to the country’s GDP.
Kuwait Economic Indicators 2019 f
Nominal GDP ($bn) 2018 e 141.1
Real GDP growth ,2018 e (%) 1.7
Real GDP growth ,2019 f (%) 2.5
Non-oil real GDP growth ,2019 f(%) 3.5
Oil real GDP growth ,2019 f(%) 4.5
Crude Oil production (mbd) 2.8
Natural gas production 0.3
Fiscal Breakeven Oil Price ($/barrel) 47.3
Fiscal balance (% of GDP) 11.4
Government debt (% of GDP) 17.8
Current account balance (%/GDP) 12.7
Official Reserved ($bn) 38.9
CPI inflation (%) 2.8
Unemployment rate (% of total labour force) 1.3
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e=Estimate; f=Forecast
