Economic Overview
Population: ~5 million GDP per Capita: ~$32,000 World's 6th largest oil reserves. Kuwait Vision 2035 is a strategic development plan that outlines Kuwait's aspirations to become a globally competitive nation by the year 2035; digital transformation is at the centre of this plan in which SAP can play a significant role.
GDP USD Billion
GDP growth rate of 3.2% CAGR between 2018 and 2023. The oil sector contributes to ~50% of the GDP and accounts for ~90% of export earnings and fiscal revenues. GDP is expected to decline at a CAGR of 2.7% between 2024 and 2029.
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