Kuwait vs Libya: Economic Indicators Comparison

Kuwait with a GDP of $140.6B ranked the 58th largest economy in the world, while Libya ranked 86th with $48.4B. By GDP 5-years average growth and GDP per capita, Kuwait and Libya ranked 163rd vs 144th and 30th vs 91st, respectively.

Gross Domestic Product & Income

Stat	Kuwait	Libya
GDP	$140.6B	$48.4B
GDP growth, 1 year	1.7%	17.9%
GDP growth, 5-years average	0.5%	1.7%
Population	4.6M	6.7M
GDP per capita	$34k	$7.2k
GDP per capita growth	-0.74%	6.37%
Purchasing Power Parity conversion factor	0.14	0.48
Price level ratio of PPP conversion factor GDP to market exchange rate	0.47	0.35
GDP per capita, PPP adjusted	$67k	$11k
GNI, Atlas method	$141.9B	$42.8B
GNI per capita	$34k	$6.4k
GNI, PPP adjusted	$348.6B	$142.5B
GNI per capita, PPP adjusted	$84k	$21k

Financial system and Human development

Stat	Kuwait	Libya
Income Tax Rate	0%	10%
Corporate Tax Rate	15%	N/A
Inflation, consumer prices	0.7%	23.1%
Inflation, GDP deflator	14.6%	15.8%
Unemployment	2.1%	17.3%
Economic Freedom Index	63.2	47
Personal Freedom Index	6.24	5.17
Human Freedom Index	6.6	4.98
Property Rights Index	57.1	30.1
Judical Effectiveness Index	47	20.8
Business Freedom Index	61.3	40.7
Fiscal Health Index	99.6	N/A
Labor Freedom Index	62.2	53.9
Investment Freedom Index	55	5
Financial Freedom Index	60	N/A
Trade Freedom Index	76.4	N/A
Monetary Freedom Index	73.2	53.6
Government Spending Index	22.4	0
Tax Burden Index	97.7	N/A
Government Integrity Index	46	18.9
Corruption Perceptions Index	41	17
Life expectancy at birth, years	75.3	72.5
Suicide mortality rate, per 100,000 people	2.3	5.2
Mortality caused by road traffic injury, per 100,000 people	17.6	26.1
Intentional homicides, per 100,000 people	1.8	2.5
International tourism, number of arrivals	8.5M	142k

Government debt & reserves

Stat	Kuwait	Libya
Central government debt, % of GDP	14.8%	4.9%
External debt stocks, % of GNI	N/A	N/A
External debt stocks	N/A	N/A
Short-term debt, % of total reserves	N/A	N/A
Total debt service, % of exports and primary income	N/A	N/A
Adjusted net savings including particulate emission damage, % of GNI	14.6%	35%
Gross savings, % of GDP	43.2%	67.3%
Gross capital formation, % of GDP	25.2%	29.8%
Total reserves including gold	$40.3B	$85.3B
Foreign direct investment net inflows	-$21.4M	$0

Exports, imports and economic structure

Stat	Kuwait	Libya
Exports of goods and services, % of GDP	56.7%	62.2%
Imports of goods and services, % of GDP	43.8%	40.1%
Current account balance (balance of payments)	$24B	-$4.7B
Revenue excluding grants, % of GDP	38.6%	N/A
Grants excluding technical cooperation, BoP	$1.6M	$268.9M
Personal remittances received	$27.7M	$16M
Industry including construction value added, % of GDP	59.6%	77.5%
Agriculture, forestry and fishing value added, % of GDP	0.4%	1.8%
Charges for the use of intellectual property, payments BoP	N/A	N/A
Charges for the use of intellectual property, receipts BoP	N/A	$10M
Expense, % of GDP	52%	N/A
Government Expenditure, % of GDP	50.9%	105.8%