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Economy of Kuwait vs Malta compared: GDP & Debt

Updated on by Georank team

Kuwait has a GDP of $160B compared to $25B for Malta, ranking 59/197 and 119/197 by economy size, respectively.

Kuwait has $4.68B in government debt (2.92% of GDP), compared to $11.5B (46.2% of GDP) in Malta.

Kuwait vs Malta GDP by year

Kuwait
Malta
1x
Year GDP, current $
Kuwait Malta
2024 $160,227,273,053 $24,971,574,502
2023 $165,384,407,116 $22,610,561,526
2022 $183,502,046,694 $18,928,276,162
2021 $148,350,671,489 $19,739,875,611
2020 $111,045,470,606 $16,404,663,226
2019 $140,856,394,861 $16,337,793,531
2018 $138,646,316,351 $16,153,779,511
2017 $120,687,539,806 $14,161,366,724
2016 $109,406,674,125 $12,025,782,834
2015 $114,585,555,689 $11,340,795,042
2014 $162,650,450,685 $11,888,032,874
2013 $174,168,116,535 $10,796,782,636
2012 $174,047,662,680 $9,609,532,089
2011 $154,039,231,246 $9,789,361,703
2010 $115,416,245,242 $9,097,044,159
2009 $105,968,691,905 $8,734,745,698
2008 $147,379,737,230 $9,135,419,465
2007 $114,634,043,362 $7,908,412,306
2006 $101,557,330,723 $6,749,838,806
2005 $80,798,630,137 $6,393,234,993
2004 $59,439,090,601 $6,104,141,520
2003 $47,874,582,232 $5,418,315,224
2002 $38,135,788,414 $4,455,127,414
2001 $34,889,559,870 $4,070,867,133
2000 $37,718,743,480 $4,036,809,815
1999 $30,122,365,849 $4,111,857,809
1998 $25,943,705,784 $4,010,111,688
1997 $30,350,190,704 $3,787,023,707
1996 $31,492,373,309 $3,822,547,197
1995 $27,186,980,647 $3,709,396,045
1994 $24,848,483,838 $2,998,505,428
1993 $23,941,391,391 $2,709,193,538
1992 $19,858,555,215 $3,021,942,759
1991 $11,009,993,703 $2,750,216,747
1990 $18,427,777,778 $2,547,328,748
1989 $24,313,855,653 $2,118,655,677
1988 $20,690,322,153 $2,019,503,068
1987 $22,368,704,134 $1,751,293,461
1986 $17,903,989,745 $1,435,038,441
1985 $21,445,970,614 $1,117,797,439
1984 $21,700,082,753 $1,101,807,023
1983 $20,871,081,080 $1,165,729,707
1982 $21,577,153,356 $1,234,474,404
1981 $25,058,020,338 $1,243,509,394
1980 $28,638,868,356 $1,250,198,601
1979 $24,749,063,922 $1,001,288,847
1978 $15,503,557,496 $793,673,402
1977 $14,137,406,741 $625,563,171
1976 $13,132,252,802 $527,936,989
1975 $12,022,811,621 $474,618,321
1974 $13,006,948,296 $376,081,124
1973 $5,408,804,607 $345,616,106
1972 $4,450,537,925 $295,106,628
1971 $3,880,392,195 $264,578,485
1970 $2,873,638,851 $250,728,796
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/malta | CC BY

GDP per capita in Kuwait vs Malta by year

Kuwait
GDP per capita

GDP per capita, PPP
Malta
GDP per capita

GDP per capita, PPP
1x
Year Current $
Kuwait Malta
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $32,718 $52,444 $43,899 $69,864
2023 $34,076 $53,025 $40,906 $67,057
2022 $39,982 $55,043 $35,639 $60,589
2021 $34,019 $50,652 $38,097 $56,852
2020 $25,236 $41,462 $31,823 $49,972
2019 $31,708 $50,703 $32,422 $51,393
2018 $32,068 $51,371 $33,382 $48,178
2017 $29,048 $46,566 $30,317 $45,764
2016 $27,324 $41,862 $26,459 $41,000
2015 $29,882 $45,267 $25,530 $38,369
2014 $44,369 $68,337 $27,425 $35,206
2013 $49,651 $76,813 $25,416 $33,138
2012 $52,155 $82,090 $22,878 $30,716
2011 $49,170 $79,037 $23,517 $29,426
2010 $39,212 $75,184 $21,947 $28,909
2009 $37,907 $80,110 $21,176 $26,782
2008 $55,585 $90,337 $22,315 $26,654
2007 $45,709 $91,435 $19,444 $25,012
2006 $42,947 $89,075 $16,654 $23,219
2005 $36,123 $84,968 $15,831 $22,227
2004 $27,552 $77,227 $15,212 $21,566
2003 $22,691 $69,752 $13,594 $20,813
2002 $18,513 $59,713 $11,251 $19,532
2001 $17,374 $58,553 $10,358 $18,435
2000 $19,296 $58,703 $10,348 $18,214
1999 $15,854 $56,406 $10,609 $16,898
1998 $14,067 $58,344 $10,408 $16,219
1997 $16,977 $57,420 $9,893 $15,465
1996 $18,201 $56,913 $10,062 $14,661
1995 $16,168 $57,163 $9,828 $13,950
1994 $14,930 $53,946 $8,000 $12,938
1993 $14,318 $48,482 $7,296 $12,103
1992 $12,146 $36,149 $8,220 $11,429
1991 $8,147 $23,390 $7,559 $10,784
1990 $10,938 $30,763 $7,192 $10,086
1989 $10,965 - $6,041 -
1988 $9,692 - $5,814 -
1987 $10,896 - $5,084 -
1986 $9,077 - $4,195 -
1985 $11,322 - $3,322 -
1984 $11,919 - $3,333 -
1983 $11,965 - $3,527 -
1982 $12,979 - $3,788 -
1981 $15,825 - $3,898 -
1980 $19,032 - $3,948 -
1979 $17,386 - $3,196 -
1978 $11,567 - $2,559 -
1977 $11,238 - $2,038 -
1976 $11,141 - $1,727 -
1975 $10,882 - $1,560 -
1974 $12,527 - $1,245 -
1973 $5,532 - $1,144 -
1972 $4,836 - $976 -
1971 $4,486 - $874 -
1970 $3,552 - $828 -
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/malta | CC BY

Kuwait's GDP per capita is $32,718, ranking 37/197, compared to $43,899 in Malta, ranking 28/197. Adjusted for purchasing power (GDP per capita PPP), Kuwait ranks 40th at $52,444, while Malta ranks 25th at $69,864.

Economic indicators

Kuwait Malta
Gross domestic product
$160B
2024
$25B
2024
GDP rank
59/197
2024
119/197
2024
GDP growth
-2.56%
2023-2024
6.8%
2023-2024
GDP per capita
$32,718
2024
$43,899
2024
GDP per capita rank
37/197
2024
28/197
2024
GDP per capita, PPP
$52,444
2024
$69,864
2024
GDP per capita PPP rank
40/197
2024
25/197
2024
Government debt
$4.68B
2024
$11.5B
2024
Debt-to-GDP ratio
2.92%
2024
46.2%
2024
Government debt per person
$956
2024
$20,269
2024
Government debt per person rank
143/185
2024
31/185
2024
Average annual personal income after taxes
$23,828
2026
$23,692
2026
Market capitalization of domestic companies
$141B
2024
$4.29B
2024
Income share by richest 10% n/a
27.7%
2022
Income share by poorest 10% n/a
2.7%
2022
Government expenditure, % of GDP
50.4%
2024
37.3%
2024
Consumer prices inflation
2.9%
2023-2024
1.65%
2023-2024
Central bank interest rate
3.5%
2025
n/a
Unemployment rate
2.16%
2016
3.12%
2024
Population
5100145
581729

Spending and national debt comparison by year

Kuwait
Spending

Debt
Malta
Spending

Debt
1x
Year % of GDP
Kuwait Malta
Government spending Government debt Government spending Government debt
2024 50.4% 2.92% 37.3% 46.2%
2023 48.3% 3.13% 36.1% 46.8%
2022 39.6% 2.95% 38.3% 50.1%
2021 48.3% 7.2% 39.4% 49.6%
2020 62.9% 10.2% 42.1% 48.6%
2019 50.3% 10.5% 34.9% 39.2%
2018 51.1% 14.3% 34.5% 41.4%
2017 51.9% 19.6% 32.7% 45.6%
2016 54.1% 9.88% 35.5% 53.1%
2015 55.4% 4.6% 37.8% 55%
2014 45% 3.43% 39.6% 60.7%
2013 38.4% 3.09% 40.1% 64.9%
2012 38.2% 3.6% 41.7% 65.6%
2011 39.7% 4.64% 41.5% 68.9%
2010 45.5% 6.16% 40.1% 65%
2009 42.9% 6.65% 41.1% 66%
2008 40.9% 5.38% 42.1% 61.5%
2007 30.4% 7.05% 41.2% 62%
2006 32.3% 7.79% 42.5% 64.5%
2005 28.8% 10.2% 42.5% 70.2%
2004 35.3% 13.9% 42% 70.4%
2003 38.2% 17.2% 45.6% 68.6%
2002 42.8% 21.3% 43.6% 65.1%
2001 41.4% 23% 44.4% 70%
2000 29.9% 21.4% 42.9% 64.4%
1999 44.5% 25.5% - 69.8%
1998 51.7% 25.6% - 66.4%
1997 43.8% 24.3% - 60.8%
1996 42.8% 26.5% - 51.5%
1995 52% 34.9% - 45.3%
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/malta | CC BY

In 2024, Kuwait's government spending was $80.8B, accounting for 50.4% of its GDP, while Malta spent $9.32B, or 37.3% of GDP.

Debt-to-GDP ratio is 2.92% in Kuwait and 46.2% in Malta, ranking 184/185 and 118/185, respectively.

Government deficit by year

Deficit/surplus
Kuwait

Malta
1x
Year Deficit/surplus, % of GDP
Kuwait Malta
2024 23.8% -3.58%
2023 28.2% -4.65%
2022 30% -5.31%
2021 9.98% -6.95%
2020 0.14% -8.72%
2019 13% 0.72%
2018 17.5% 1.86%
2017 15.3% 3.4%
2016 13.1% 1.1%
2015 16.6% -0.84%
2014 30% -1.49%
2013 40.6% -2.19%
2012 40.7% -3.31%
2011 38.8% -2.99%
2010 31.9% -2.22%
2009 31.3% -3.11%
2008 21.3% -4.06%
2007 37.1% -2.05%
2006 28% -2.46%
2005 38.9% -2.83%
2004 32.5% -4.28%
2003 27.2% -9.04%
2002 31% -5.62%
2001 45.2% -6.5%
2000 52.5% -5.83%
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/malta | 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 Malta's deficit of $893M, or 3.58% of GDP.

Over the past 25 years, Kuwait recorded a fiscal deficit in 0 of those years, while Malta ran a deficit in 21 years. On average, Kuwait posted an annual surplus equal to 27.8% of GDP, compared to deficit of 3.24% of GDP for Malta.

Inflation comparison by year

Inflation
Kuwait

Malta
1x
Year Consumer prices inflation
Kuwait Malta
2024 2.9% 1.65%
2023 3.64% 5.09%
2022 3.98% 6.15%
2021 3.42% 1.5%
2020 2.1% 0.64%
2019 1.09% 1.64%
2018 0.54% 1.16%
2017 2.17% 1.36%
2016 3.2% 0.64%
2015 3.27% 1.1%
2014 2.91% 0.31%
2013 2.68% 1.18%
2012 3.26% 2.38%
2011 4.84% 2.96%
2010 4.5% 1.52%
2009 4.61% 2.08%
2008 10.6% 4.26%
2007 5.48% 1.25%
2006 3.06% 2.77%
2005 4.14% 3.01%
2004 1.25% 2.79%
2003 0.96% 1.3%
2002 0.89% 2.19%
2001 1.3% 2.93%
2000 1.81% 2.37%
1999 2.99% 2.13%
1998 0.13% 2.39%
1997 0.68% 3.11%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, Kuwait has recorded an average annual inflation rate of 2.94%, compared with 2.21% in Malta. In 2024, inflation was 2.9% in Kuwait and 1.65% in Malta.

Top exports between countries

Kuwait
Export category Export value
Miscellaneous $1K
Textiles & consumer goods $1K
Malta
Export category Export value
Processed food, beverages & tobacco $2.98M
Chemicals & pharma $296K
Precious metals & jewellery $206K
Raw agricultural goods $192K
Machinery & equipment $107K
Animal & marine products $26K
Miscellaneous $26K
Textiles & consumer goods $13K
Wood & paper products $1K

Balance of trade

Kuwait Malta
Current account balance
$46.7B
2024
$1.78B
2024
Current account balance ranking
15/190
2024
47/190
2024
Current account balance, % of GDP
+29.1%
2024
+7.12%
2024
Goods imports
$33.4B
2024
$7.56B
2024
Goods exports
$77.5B
2024
$4.58B
2024
Service imports
$28.1B
2024
$17.4B
2024
Service exports
$12.2B
2024
$25B
2024
Imports of goods and services, % of GDP
38.3%
2023
99.7%
2024
Exports of goods and services, % of GDP
57.7%
2023
118.5%
2024

Economic freedom indices

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

Kuwait Malta
Economic freedom 59.9 68.2
Economic freedom ranking 100/197 49/197
Property rights 42 85.5
Government integrity 47.9 54.3
Judicial effectiveness 43.4 80.2
Tax burden 97.7 68.5
Government spending 36.2 58.4
Fiscal health 99.9 63.2
Business freedom 57.4 83.2
Labor freedom 49.2 62.6
Monetary freedom 68.7 73.1
Trade freedom 75.8 79.4
Investment freedom 50 60
Financial freedom 50 50

Economic freedom comparison by year

Kuwait
Malta
1x
Year Economic freedom index
Kuwait Malta
2026 59.9 68.2
2025 59.9 66.8
2024 58.5 64.5
2023 56.7 67.5
2022 58.3 71.5
2021 64.1 70.2
2020 63.2 69.5
2019 60.8 68.6
2018 62.2 68.5
2017 65.1 67.7
2016 62.7 66.7
2015 62.5 66.5
2014 62.3 66.4
2013 63.1 67.5
2012 62.5 67
2011 64.9 65.7
2010 67.7 67.2
2009 65.6 66.1
2008 68.1 66
2007 66.4 66.1
2006 66.5 67.3
2005 64.6 68.9
2004 63.6 63.3
2003 66.7 61.1
2002 65.4 62.2
2001 68.2 62.9
2000 69.7 58.3
1999 69.5 59.3
1998 66.3 61.2
1997 64.8 57.9
1996 66.1 55.8
1995 - 56.3

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

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

The Economic Freedom Index for Kuwait is 59.9, ranking 100/197, compared to 68.2 for Malta, ranking 49/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Kuwait Malta
Services, % of GDP
55.9%
2024
81.8%
2024
Industry, % of GDP
57.1%
2024
10.7%
2024
Agriculture, forestry, and fishing, % of GDP
0.49%
2024
0.23%
2024
GNI, Atlas method
$200B
2024
$20.9B
2024
GNI per capita, PPP
$63,270
2024
$61,340
2024
Total reserves including gold
$50.7B
2024
$1.42B
2024
Total reserves ranking
41/177
2024
137/177
2024
Net foreign direct investment
$9.71B
2024
-$6.13B
2024
Net inflows of foreign direct investment
$615M
2024
$42.6B
2024
Net outflows of foreign direct investment
$10.3B
2024
$36.5B
2024
Poverty at national poverty lines n/a
16.7%
2021
Gross capital formation, % of GDP
17.7%
2023
19%
2024

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/malta | 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 (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

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.

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.