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Economy of Kuwait vs Laos compared: GDP & Debt

Updated on by Georank team

Kuwait has a GDP of $160B compared to $16.5B for Laos, ranking 59/197 and 139/197 by economy size, respectively.

Kuwait has $4.68B in government debt (2.92% of GDP), compared to $16.6B (100.5% of GDP) in Laos.

Kuwait vs Laos GDP by year

Kuwait
Laos
1x
Year GDP, current $
Kuwait Laos
2024 $160,227,273,053 $16,502,933,121
2023 $165,384,407,116 $15,843,155,731
2022 $183,502,046,694 $15,468,785,204
2021 $148,350,671,489 $18,827,148,531
2020 $111,045,470,606 $18,981,805,250
2019 $140,856,394,861 $18,740,561,513
2018 $138,646,316,351 $18,141,641,090
2017 $120,687,539,806 $17,071,155,481
2016 $109,406,674,125 $15,912,501,723
2015 $114,585,555,689 $14,426,380,126
2014 $162,650,450,685 $13,279,245,886
2013 $174,168,116,535 $11,983,252,627
2012 $174,047,662,680 $10,192,846,339
2011 $154,039,231,246 $8,750,104,617
2010 $115,416,245,242 $7,131,771,015
2009 $105,968,691,905 $5,836,137,330
2008 $147,379,737,230 $5,446,433,157
2007 $114,634,043,362 $4,223,152,739
2006 $101,557,330,723 $3,455,030,061
2005 $80,798,630,137 $2,735,558,735
2004 $59,439,090,601 $2,366,398,120
2003 $47,874,582,232 $2,023,324,407
2002 $38,135,788,414 $1,758,176,653
2001 $34,889,559,870 $1,768,619,058
2000 $37,718,743,480 $1,731,198,022
1999 $30,122,365,849 $1,454,430,642
1998 $25,943,705,784 $1,280,177,839
1997 $30,350,190,704 $1,747,011,857
1996 $31,492,373,309 $1,873,671,550
1995 $27,186,980,647 $1,763,536,305
1994 $24,848,483,838 $1,543,606,345
1993 $23,941,391,391 $1,327,748,690
1992 $19,858,555,215 $1,127,806,945
1991 $11,009,993,703 $1,028,087,972
1990 $18,427,777,778 $865,559,879
1989 $24,313,855,653 $714,046,821
1988 $20,690,322,153 $598,961,269
1987 $22,368,704,134 $1,087,273,104
1986 $17,903,989,745 $1,776,842,097
1985 $21,445,970,614 $2,366,666,616
1984 $21,700,082,753 $1,757,142,856
1983 $20,871,081,080 -
1982 $21,577,153,356 -
1981 $25,058,020,338 -
1980 $28,638,868,356 -
1979 $24,749,063,922 -
1978 $15,503,557,496 -
1977 $14,137,406,741 -
1976 $13,132,252,802 -
1975 $12,022,811,621 -
1974 $13,006,948,296 -
1973 $5,408,804,607 -
1972 $4,450,537,925 -
1971 $3,880,392,195 -
1970 $2,873,638,851 -
1969 $2,769,198,892 -
1968 $2,662,798,935 -
1967 $2,441,599,023 -
1966 $2,391,199,044 -
1965 $2,097,199,161 -
1964 $2,071,668,533 -
1963 $1,900,895,857 -
1962 $1,828,107,503 -

Data sources: World Bank | Economy & Growth (1962–2024, retrieved 2026-04-06).

GeoRank.org/economy/kuwait/laos | CC BY

GDP per capita in Kuwait vs Laos by year

Kuwait
GDP per capita

GDP per capita, PPP
Laos
GDP per capita

GDP per capita, PPP
1x
Year Current $
Kuwait Laos
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $32,718 $52,444 $2,124 $9,776
2023 $34,076 $53,025 $2,067 $9,292
2022 $39,982 $55,043 $2,046 $8,766
2021 $34,019 $50,652 $2,526 $8,080
2020 $25,236 $41,462 $2,584 $7,913
2019 $31,708 $50,703 $2,589 $7,743
2018 $32,068 $51,371 $2,545 $7,487
2017 $29,048 $46,566 $2,432 $7,142
2016 $27,324 $41,862 $2,303 $6,743
2015 $29,882 $45,267 $2,121 $6,086
2014 $44,369 $68,337 $1,981 $5,799
2013 $49,651 $76,813 $1,813 $5,222
2012 $52,155 $82,090 $1,564 $4,781
2011 $49,170 $79,037 $1,362 $4,100
2010 $39,212 $75,184 $1,126 $3,772
2009 $37,907 $80,110 $935 $3,485
2008 $55,585 $90,337 $886 $3,271
2007 $45,709 $91,435 $697 $3,021
2006 $42,947 $89,075 $579 $2,777
2005 $36,123 $84,968 $466 $2,519
2004 $27,552 $77,227 $409 $2,315
2003 $22,691 $69,752 $355 $2,151
2002 $18,513 $59,713 $313 $2,020
2001 $17,374 $58,553 $320 $1,908
2000 $19,296 $58,703 $319 $1,794
1999 $15,854 $56,406 $272.3 $1,686
1998 $14,067 $58,344 $243.9 $1,577
1997 $16,977 $57,420 $339 $1,528
1996 $18,201 $56,913 $371 $1,435
1995 $16,168 $57,163 $358 $1,349
1994 $14,930 $53,946 $321 $1,265
1993 $14,318 $48,482 $283.4 $1,176
1992 $12,146 $36,149 $247.3 $1,114
1991 $8,147 $23,390 $231.8 $1,061
1990 $10,938 $30,763 $200.7 $1,012
1989 $10,965 - $170.4 -
1988 $9,692 - $147.1 -
1987 $10,896 - $274.7 -
1986 $9,077 - $462 -
1985 $11,322 - $633 -
1984 $11,919 - $483 -
1983 $11,965 - - -
1982 $12,979 - - -
1981 $15,825 - - -
1980 $19,032 - - -
1979 $17,386 - - -
1978 $11,567 - - -
1977 $11,238 - - -
1976 $11,141 - - -
1975 $10,882 - - -
1974 $12,527 - - -
1973 $5,532 - - -
1972 $4,836 - - -
1971 $4,486 - - -
1970 $3,552 - - -
1969 $3,695 - - -
1968 $3,872 - - -
1967 $3,887 - - -
1966 $4,176 - - -
1965 $4,024 - - -
1964 $4,379 - - -
1963 $4,445 - - -
1962 $4,748 - - -

Data sources: World Bank | Economy & Growth (1962–2024, retrieved 2026-04-06).

GeoRank.org/economy/kuwait/laos | CC BY

Kuwait's GDP per capita is $32,718, ranking 37/197, compared to $2,124 in Laos, ranking 155/197. Adjusted for purchasing power (GDP per capita PPP), Kuwait ranks 40th at $52,444, while Laos ranks 134th at $9,776.

Economic indicators

Kuwait Laos
Gross domestic product
$160B
2024
$16.5B
2024
GDP rank
59/197
2024
139/197
2024
GDP growth
-2.56%
2023-2024
4.13%
2023-2024
GDP per capita
$32,718
2024
$2,124
2024
GDP per capita rank
37/197
2024
155/197
2024
GDP per capita, PPP
$52,444
2024
$9,776
2024
GDP per capita PPP rank
40/197
2024
134/197
2024
Government debt
$4.68B
2024
$16.6B
2024
Debt-to-GDP ratio
2.92%
2024
100.5%
2024
Government debt per person
$956
2024
$2,134
2024
Government debt per person rank
143/185
2024
119/185
2024
Average annual personal income after taxes
$23,828
2026
$2,096
2026
Market capitalization of domestic companies
$141B
2024
n/a
Income share by richest 10% n/a
31.2%
2018
Income share by poorest 10% n/a
3%
2018
Government expenditure, % of GDP
50.4%
2024
15.7%
2024
Consumer prices inflation
2.9%
2023-2024
23.1%
2023-2024
Central bank interest rate
3.5%
2025
n/a
Unemployment rate
2.16%
2016
1.21%
2022
Population
5100145
8004838

Spending and national debt comparison by year

Kuwait
Spending

Debt
Laos
Spending

Debt
1x
Year % of GDP
Kuwait Laos
Government spending Government debt Government spending Government debt
2024 50.4% 2.92% 15.7% 100.5%
2023 48.3% 3.13% 16.4% 116.5%
2022 39.6% 2.95% 14.7% 130.7%
2021 48.3% 7.2% 15.7% 92.9%
2020 62.9% 10.2% 18.4% 76%
2019 50.3% 10.5% 18.6% 69.1%
2018 51.1% 14.3% 20.7% 60.6%
2017 51.9% 19.6% 21.8% 57.2%
2016 54.1% 9.88% 21.1% 54.5%
2015 55.4% 4.6% 25.8% 53.1%
2014 45% 3.43% 25% 53.5%
2013 38.4% 3.09% 24.2% 49.5%
2012 38.2% 3.6% 24.7% 46.1%
2011 39.7% 4.64% 20.2% 43%
2010 45.5% 6.16% 22.4% 49.3%
2009 42.9% 6.65% 20.1% 51.8%
2008 40.9% 5.38% 16.1% 51.7%
2007 30.4% 7.05% 15.1% 55.9%
2006 32.3% 7.79% 14.7% 60%
2005 28.8% 10.2% 15.3% 73.2%
2004 35.3% 13.9% 13.6% 80.7%
2003 38.2% 17.2% 16% 90.1%
2002 42.8% 21.3% 16.6% 95.3%
2001 41.4% 23% 18.8% 94.7%
2000 29.9% 21.4% 19.9% -
1999 44.5% 25.5% - -
1998 51.7% 25.6% - -
1997 43.8% 24.3% - -
1996 42.8% 26.5% - -
1995 52% 34.9% - -
1994 57.8% 37.7% - -
1993 58.2% 28.8% - -
1992 77.6% 27.9% - -
1991 208.9% 45.3% - -
1990 122.9% - - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/kuwait/laos | CC BY

In 2024, Kuwait's government spending was $80.8B, accounting for 50.4% of its GDP, while Laos spent $2.58B, or 15.7% of GDP.

Debt-to-GDP ratio is 2.92% in Kuwait and 100.5% in Laos, ranking 184/185 and 24/185, respectively.

Government deficit by year

Deficit/surplus
Kuwait

Laos
1x
Year Deficit/surplus, % of GDP
Kuwait Laos
2024 23.8% 2.34%
2023 28.2% -0.01%
2022 30% 0.06%
2021 9.98% -0.67%
2020 0.14% -5.37%
2019 13% -3.2%
2018 17.5% -4.46%
2017 15.3% -5.51%
2016 13.1% -5.06%
2015 16.6% -5.57%
2014 30% -3.13%
2013 40.6% -4.03%
2012 40.7% -2.34%
2011 38.8% -1.43%
2010 31.9% -1.47%
2009 31.3% -3.1%
2008 21.3% -1.86%
2007 37.1% -1.12%
2006 28% -1.48%
2005 38.9% -2.54%
2004 32.5% -1.81%
2003 27.2% -3.89%
2002 31% -2.85%
2001 45.2% -3.68%
2000 52.5% -3.58%
1999 28.2% -
1998 19.5% -
1997 29.5% -
1996 24.3% -
1995 11.7% -
1994 1.76% -
1993 -3.12% -
1992 -28.1% -
1991 -145% -
1990 -50% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/kuwait/laos | CC BY

In 2024, Kuwait's government surplus, the difference between spending and revenue, was $38.1B, equivalent to 23.8% of GDP. This compares to Laos' surplus of $386M, or 2.34% of GDP.

Over the past 25 years, Kuwait recorded a fiscal deficit in 0 of those years, while Laos ran a deficit in 23 years. On average, Kuwait posted an annual surplus equal to 27.8% of GDP, compared to deficit of 2.63% of GDP for Laos.

Inflation comparison by year

Inflation
Kuwait

Laos
1x
Year Consumer prices inflation
Kuwait Laos
2024 2.9% 23.1%
2023 3.64% 31.2%
2022 3.98% 23%
2021 3.42% 3.8%
2020 2.1% 5.1%
2019 1.09% 3.3%
2018 0.54% 2%
2017 2.17% 0.8%
2016 3.2% 1.6%
2015 3.27% 1.3%
2014 2.91% 4.1%
2013 2.68% 6.4%
2012 3.26% 4.3%
2011 4.84% 7.6%
2010 4.5% 6%
2009 4.61% 0.1%
2008 10.6% 7.6%
2007 5.48% 4.7%
2006 3.06% 6.5%
2005 4.14% 7.2%
2004 1.25% 10.5%
2003 0.96% 15.5%
2002 0.89% 10.6%
2001 1.3% 7.8%
2000 1.81% 8.4%
1999 2.99% 128.4%
1998 0.13% 90.1%
1997 0.68% 19.5%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/kuwait/laos | CC BY

Over the past 28 years, Kuwait has recorded an average annual inflation rate of 2.94%, compared with 15.7% in Laos. In 2024, inflation was 2.9% in Kuwait and 23.1% in Laos.

Top exports between countries

Kuwait
Export category Export value
Laos
Export category Export value
Wood & paper products $276K

Balance of trade

Kuwait Laos
Current account balance
$46.7B
2024
$531M
2024
Current account balance ranking
15/190
2024
61/190
2024
Current account balance, % of GDP
+29.1%
2024
+3.22%
2024
Goods imports
$33.4B
2024
$8.66B
2024
Goods exports
$77.5B
2024
$9.39B
2024
Service imports
$28.1B
2024
$1.27B
2024
Service exports
$12.2B
2024
$1.73B
2024
Imports of goods and services, % of GDP
38.3%
2023
41.9%
2016
Exports of goods and services, % of GDP
57.7%
2023
33.2%
2016

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Kuwait Laos
Economic freedom 59.9 50.9
Economic freedom ranking 100/197 157/197
Property rights 42 41.1
Government integrity 47.9 25.9
Judicial effectiveness 43.4 10.2
Tax burden 97.7 88.5
Government spending 36.2 92.7
Fiscal health 99.9 80
Business freedom 57.4 54.2
Labor freedom 49.2 40.7
Monetary freedom 68.7 53.3
Trade freedom 75.8 69
Investment freedom 50 35
Financial freedom 50 20

Economic freedom comparison by year

Kuwait
Laos
1x
Year Economic freedom index
Kuwait Laos
2026 59.9 50.9
2025 59.9 51.1
2024 58.5 50.6
2023 56.7 50.3
2022 58.3 49.2
2021 64.1 53.9
2020 63.2 55.5
2019 60.8 57.4
2018 62.2 53.6
2017 65.1 54
2016 62.7 49.8
2015 62.5 51.4
2014 62.3 51.2
2013 63.1 50.1
2012 62.5 50
2011 64.9 51.3
2010 67.7 51.1
2009 65.6 50.4
2008 68.1 50.3
2007 66.4 50.3
2006 66.5 47.5
2005 64.6 44.4
2004 63.6 42
2003 66.7 41
2002 65.4 36.8
2001 68.2 33.5
2000 69.7 36.8
1999 69.5 35.2
1998 66.3 35.2
1997 64.8 35.1
1996 66.1 38.5

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09).

GeoRank.org/economy/kuwait/laos | CC BY

The Economic Freedom Index for Kuwait is 59.9, ranking 100/197, compared to 50.9 for Laos, ranking 157/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Kuwait Laos
Services, % of GDP
55.9%
2024
43.5%
2024
Industry, % of GDP
57.1%
2024
29%
2024
Agriculture, forestry, and fishing, % of GDP
0.49%
2024
16.8%
2024
GNI, Atlas method
$200B
2024
$15.5B
2024
GNI per capita, PPP
$63,270
2024
$9,160
2024
Total reserves including gold
$50.7B
2024
$1.77B
2023
Total reserves ranking
41/177
2024
129/177
2023
Net foreign direct investment
$9.71B
2024
-$988M
2024
Net inflows of foreign direct investment
$615M
2024
$988M
2024
Net outflows of foreign direct investment
$10.3B
2024
$0
2024
Servicing debt to the IMF, % of GNI n/a
13.8%
2024
Poverty at national poverty lines n/a
22%
2020
Gross capital formation, % of GDP
17.7%
2023
29%
2016

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/kuwait/laos | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1962–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  6. LivingCost (2026, retrieved 2025-10-14)
  7. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)
  8. TradeMap (2021, retrieved 2026-02-08)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.