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Kuwait
(information)
Population as of 2020: 4.2 million 126 of 193
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Region: Middle East
Nominal G.D.P. in 2024: $160.23 billion 56 of 193
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Top Exports
Kuwait exported approximately **US$76.0 billion** worth of goods in 2024. Like Qatar and Iraq, Kuwait is one of the world's most hydrocarbon-dependent export economies, although refined fuels and petrochemicals have become increasingly important. | Rank | Export Product | Estimated Export Value (USD) | | ---- | --------------------------------------- | ---------------------------: | | 1 | Crude petroleum oil | **~US$35.5 billion** | | 2 | Refined petroleum products | **~US$29.8 billion** | | 3 | Petroleum gases (LPG, LNG, other gases) | **~US$3.6 billion** | | 4 | Ethylene polymers (polyethylene) | **~US$1.0 billion** | | 5 | Organic chemicals | **~US$1.8 billion** | | 6 | Passenger cars | **~US$1.1 billion** | | 7 | Trucks and commercial vehicles | **~US$500 million** | | 8 | Plastics and plastic articles | **~US$1.05 billion** | | 9 | Acyclic alcohols (petrochemicals) | **~US$900 million** | | 10 | Hydrocarbon derivatives | **~US$800 million** | | 11 | Electrical equipment | ~US$313 million | | 12 | Gold and precious metals | ~US$310 million | | 13 | Machinery and industrial equipment | ~US$242 million | | 14 | Perfumes and cosmetics | ~US$156 million | | 15 | Dairy products and food preparations | ~US$152 million | | 16 | Iron and steel articles | ~US$110 million | | 17 | Glass and glassware | ~US$74 million | | 18 | Paper and paperboard products | ~US$70 million | | 19 | Miscellaneous chemical products | ~US$69 million | | 20 | Aluminum products | ~US$66 million | *Values are rounded estimates derived from 2024 UN Comtrade trade categories and Kuwait's major export products.* Key Takeaways * 🛢️ **Oil overwhelmingly dominates** * Crude oil, refined petroleum products, and petroleum gases together generated roughly **US$69 billion**, accounting for over **90% of all exports**. * ⛽ **Refined fuels are increasingly important** * Kuwait's massive **Al Zour Refinery** reached full-scale operations in 2024, helping the country achieve record refined-product exports. * 🧪 **Petrochemicals form the largest non-energy sector** * Polyethylene, organic chemicals, alcohols, and hydrocarbon derivatives generate billions in export revenue. * 🚗 **Vehicle exports are surprisingly significant** * Cars and trucks together represented roughly **US$1.6 billion** in exports during 2024. * ⚠️ **One of the world's most concentrated export economies** * Kuwait's top three export products (crude oil, refined petroleum, and petroleum gases) accounted for roughly **91% of export earnings**. Top Importers of Kuwait's Exports (2024) | Rank | Country | Estimated Imports from Kuwait | | ---- | -------------------- | ----------------------------: | | 1 | India | ~US$17–20 billion | | 2 | China | ~US$10–15 billion | | 3 | South Korea | ~US$8–12 billion | | 4 | Japan | ~US$7–10 billion | | 5 | United Arab Emirates | ~US$6–8 billion | | 6 | Pakistan | ~US$3–5 billion | | 7 | Saudi Arabia | ~US$2–4 billion | | 8 | Singapore | ~US$2–4 billion | | 9 | Italy | ~US$2–3 billion | | 10 | Thailand | ~US$1–3 billion | *The exact ordering among the top Asian oil importers can vary by dataset because Kuwait does not publish the same level of detailed bilateral petroleum-export data as some countries. However, India, China, South Korea, and Japan consistently rank among Kuwait's largest customers for crude oil and refined petroleum products.* Key Patterns * 🛢️ **Asia overwhelmingly dominates** * The vast majority of Kuwait's exports go to Asian energy-importing economies. * India, China, South Korea, and Japan are among Kuwait's most important oil customers. * 🇮🇳 **India is typically Kuwait's largest customer** * Indian refineries are major buyers of Kuwaiti crude oil and petroleum products. * 🇨🇳 **China is a critical growth market** * China imports large quantities of Kuwaiti crude oil and petrochemical products. * ⛽ **Refined products are becoming more important** * The expansion of the Al Zour refinery has increased Kuwait's exports of refined fuels, especially to Asian markets. * 🌍 **Energy determines almost the entire ranking** * Crude oil, refined petroleum products, and petroleum gases account for more than 90% of Kuwait's export earnings.
