Kuwait's economy was ranked 86th in the world

 
 
 
 

Kuwait ranks 86th internationally in terms of economic complexity according to the Economic Complexity Index from the Harvard Kennedy School, although the indicator also revealed that this complexity has been declining over the previous ten years. Saudi Arabia was placed 42nd globally, followed by Bahrain at 56th, Qatar at 71st, Oman at 79th, and the UAE at 99th. The economic complexity index gauges how much the nation knows about productivity and how much data is available on such skills. Additionally, it considers the volume of exports and compares it to the diversity and development of other exporting nations.

Kuwait's economic complexity as shown by the index is apparent despite the country's exports' growing diversification, which has had an impact on less complex items. This showed that Kuwait's manufacturing capacity has few prospects to be diversified utilizing its current knowledge. The data also indicated that the nation's income structure is less complex, which leads to a more gradual expansion of its economy.

Kuwait will expand by about 0.7 percent yearly over the next ten years, which puts it in the bottom half of the world in terms of growth, according to market projections for 2030. In this regard, the "Atlas of Economic Complexity" published by Harvard Kennedy School lists Kuwait as the 27th most prosperous economy by a population out of 133 nations and describes it as a high-income nation.

Additionally, it was stated that Kuwait's population of 4.27 million people has a GDP per capita of approximately USD 24,811 and that during the past five years, the average growth in per capita output has been lower than normal for the area at 3.9 percent. After Qatar, which came in at number 10 globally, and the United Arab Emirates, which came in at number 21, Kuwait was the richest Gulf state, followed by Bahrain, Saudi Arabia, and Oman.

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