IMD World Competitiveness Booklet 2023

Competitiveness Country Profiles

Kuwait Competitiveness Trends – Overall

OVERALL PERFORMANCE (64 countries)

BASIC FACTS

Rank

2019

2020

2021

2022

2023

Capital Land area (square km '000)

Kuwait City

18 2022

0,306 2022

Exchange rate (per $)

4,82 2022 52 182,0 2022 48 51.529 2022 26 8,2 2022 04 3,92 2022 09 1,08 2022 02 2,86 2022 48 29,30 2022 02 14,8 2021 62 -0,20 2021 59

Population - market size (millions)

38

Gross Domestic Product (GDP) (US$ billions)

CHALLENGES IN 2023

GDP (PPP) per capita (US$)

Diversification of the economy. Institutional effectiveness.

• •

Real GDP growth (%)

Consumer price inflation (%)

• Business ecosystem: SMEs and entrepreneurship, agility, and resilience. • Innovation environment (educational system, investment in R&D, knowledge infrastructure) and digitalization. • Education and talent development.

Unemployment rate (%)

Labor force (millions)

Current account balance (% of GDP)

Direct investment stocks inward ($bn)

Direct investment flows inward (% of GDP)

PROVIDED BY: Kuwait Anti-Corruption Authority (Nazaha)

COMPETITIVENESS LANDSCAPE

Economic Performance Government Efficiency

Business Efficiency

Infrastructure

Domestic Economy

International Trade

International Investment Employment Prices

Public Finance Tax Policy

Institutional Framework Business Legislation

Societal Framework

Productivity & Efficiency Labor Market Finance

Management Practices Attitudes & Values

Basic Infrastructure

Technological Infrastructure Scientific Infrastructure

Health & Environment Education

5

5

12

15

25

33

37

38

42

43 38

46 45 44 47 50

54 54

55

58

PEER GROUPS RANKINGS EUROPE - MIDDLE EAST - AFRICA (41 countries)

POPULATIONS < 20 MILLION (37 countries)

2019

2020

2021

2022

2023

2019

2020

2021

2022

2023

23

25

89