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Economy of Kuwait vs Namibia compared: GDP & Debt

Updated on by Georank team

Kuwait has a GDP of $160B compared to $13.4B for Namibia, ranking 59/197 and 147/197 by economy size, respectively.

Kuwait has $4.68B in government debt (2.92% of GDP), compared to $9.05B (67.7% of GDP) in Namibia.

Kuwait vs Namibia GDP by year

Kuwait
Namibia
1x
Year GDP, current $
Kuwait Namibia
2024 $160,227,273,053 $13,372,354,512
2023 $165,384,407,116 $12,408,271,449
2022 $183,502,046,694 $12,569,449,123
2021 $148,350,671,489 $12,402,486,184
2020 $111,045,470,606 $10,583,748,542
2019 $140,856,394,861 $12,541,928,303
2018 $138,646,316,351 $13,682,019,076
2017 $120,687,539,806 $12,895,153,371
2016 $109,406,674,125 $10,722,018,732
2015 $114,585,555,689 $11,335,161,084
2014 $162,650,450,685 $12,435,430,970
2013 $174,168,116,535 $12,043,307,277
2012 $174,047,662,680 $13,042,053,592
2011 $154,039,231,246 $12,523,359,441
2010 $115,416,245,242 $11,431,412,421
2009 $105,968,691,905 $8,938,847,189
2008 $147,379,737,230 $8,607,431,497
2007 $114,634,043,362 $8,839,536,476
2006 $101,557,330,723 $8,001,779,551
2005 $80,798,630,137 $7,248,374,838
2004 $59,439,090,601 $6,609,205,995
2003 $47,874,582,232 $4,926,439,384
2002 $38,135,788,414 $3,349,169,826
2001 $34,889,559,870 $3,557,341,215
2000 $37,718,743,480 $3,922,232,165
1999 $30,122,365,849 $3,868,551,730
1998 $25,943,705,784 $3,873,109,866
1997 $30,350,190,704 $4,154,989,950
1996 $31,492,373,309 $3,989,163,197
1995 $27,186,980,647 $3,978,514,206
1994 $24,848,483,838 $3,666,503,530
1993 $23,941,391,391 $3,251,188,833
1992 $19,858,555,215 $3,429,521,699
1991 $11,009,993,703 $2,996,869,281
1990 $18,427,777,778 $2,789,921,854
1989 $24,313,855,653 $2,535,135,798
1988 $20,690,322,153 $2,495,094,746
1987 $22,368,704,134 $2,300,068,217
1986 $17,903,989,745 $1,809,048,527
1985 $21,445,970,614 $1,608,237,350
1984 $21,700,082,753 $1,951,260,038
1983 $20,871,081,080 $2,297,400,688
1982 $21,577,153,356 $2,118,710,248
1981 $25,058,020,338 $2,249,908,578
1980 $28,638,868,356 $2,421,990,338
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/namibia | CC BY

GDP per capita in Kuwait vs Namibia by year

Kuwait
GDP per capita

GDP per capita, PPP
Namibia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Kuwait Namibia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $32,718 $52,444 $4,413 $11,687
2023 $34,076 $53,025 $4,188 $11,251
2022 $39,982 $55,043 $4,350 $10,663
2021 $34,019 $50,652 $4,413 $9,709
2020 $25,236 $41,462 $3,879 $9,354
2019 $31,708 $50,703 $4,732 $9,609
2018 $32,068 $51,371 $5,309 $9,854
2017 $29,048 $46,566 $5,144 $9,888
2016 $27,324 $41,862 $4,396 $10,200
2015 $29,882 $45,267 $4,774 $10,466
2014 $44,369 $68,337 $5,378 $10,365
2013 $49,651 $76,813 $5,347 $9,699
2012 $52,155 $82,090 $5,943 $9,364
2011 $49,170 $79,037 $5,835 $9,002
2010 $39,212 $75,184 $5,418 $8,538
2009 $37,907 $80,110 $4,303 $8,079
2008 $55,585 $90,337 $4,205 $8,125
2007 $45,709 $91,435 $4,379 $7,875
2006 $42,947 $89,075 $4,017 $7,374
2005 $36,123 $84,968 $3,686 $6,767
2004 $27,552 $77,227 $3,403 $6,480
2003 $22,691 $69,752 $2,569 $5,693
2002 $18,513 $59,713 $1,772 $5,433
2001 $17,374 $58,553 $1,916 $5,196
2000 $19,296 $58,703 $2,157 $5,129
1999 $15,854 $56,406 $2,178 $4,961
1998 $14,067 $58,344 $2,235 $4,852
1997 $16,977 $57,420 $2,460 $4,764
1996 $18,201 $56,913 $2,423 $4,612
1995 $16,168 $57,163 $2,483 $4,509
1994 $14,930 $53,946 $2,356 $4,376
1993 $14,318 $48,482 $2,155 $4,345
1992 $12,146 $36,149 $2,347 $4,452
1991 $8,147 $23,390 $2,117 $4,192
1990 $10,938 $30,763 $2,037 $3,875
1989 $10,965 - $1,967 -
1988 $9,692 - $2,063 -
1987 $10,896 - $1,969 -
1986 $9,077 - $1,599 -
1985 $11,322 - $1,466 -
1984 $11,919 - $1,830 -
1983 $11,965 - $2,214 -
1982 $12,979 - $2,097 -
1981 $15,825 - $2,267 -
1980 $19,032 - $2,468 -
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/namibia | CC BY

Kuwait's GDP per capita is $32,718, ranking 37/197, compared to $4,413 in Namibia, ranking 126/197. Adjusted for purchasing power (GDP per capita PPP), Kuwait ranks 40th at $52,444, while Namibia ranks 128th at $11,687.

Economic indicators

Kuwait Namibia
Gross domestic product
$160B
2024
$13.4B
2024
GDP rank
59/197
2024
147/197
2024
GDP growth
-2.56%
2023-2024
3.71%
2023-2024
GDP per capita
$32,718
2024
$4,413
2024
GDP per capita rank
37/197
2024
126/197
2024
GDP per capita, PPP
$52,444
2024
$11,687
2024
GDP per capita PPP rank
40/197
2024
128/197
2024
Government debt
$4.68B
2024
$9.05B
2024
Debt-to-GDP ratio
2.92%
2024
67.7%
2024
Government debt per person
$956
2024
$2,988
2024
Government debt per person rank
143/185
2024
100/185
2024
Average annual personal income after taxes
$23,828
2026
$6,197
2026
Market capitalization of domestic companies
$141B
2024
$2.48B
2024
Income share by richest 10% n/a
47.2%
2015
Income share by poorest 10% n/a
1%
2015
Government expenditure, % of GDP
50.4%
2024
39.9%
2024
Consumer prices inflation
2.9%
2023-2024
4.2%
2023-2024
Central bank interest rate
3.5%
2025
6.5%
2025
Unemployment rate
2.16%
2016
19.9%
2018
Population
5100145
3173089

Spending and national debt comparison by year

Kuwait
Spending

Debt
Namibia
Spending

Debt
1x
Year % of GDP
Kuwait Namibia
Government spending Government debt Government spending Government debt
2024 50.4% 2.92% 39.9% 67.7%
2023 48.3% 3.13% 37% 67.2%
2022 39.6% 2.95% 36.6% 69.4%
2021 48.3% 7.2% 39.3% 69.6%
2020 62.9% 10.2% 41.5% 64.3%
2019 50.3% 10.5% 37.4% 57.6%
2018 51.1% 14.3% 36.3% 48.7%
2017 51.9% 19.6% 38.1% 43.8%
2016 54.1% 9.88% 41.8% 45.8%
2015 55.4% 4.6% 43.7% 42.1%
2014 45% 3.43% 41.8% 27.6%
2013 38.4% 3.09% 38.3% 26.1%
2012 38.2% 3.6% 35% 24.6%
2011 39.7% 4.64% 38.5% 27.4%
2010 45.5% 6.16% 33.5% 16.3%
2009 42.9% 6.65% 32% 15.9%
2008 40.9% 5.38% 28.4% 19.1%
2007 30.4% 7.05% 26.1% 19.4%
2006 32.3% 7.79% 27.4% 26.1%
2005 28.8% 10.2% 27.7% 26.9%
2004 35.3% 13.9% 28.4% 29.2%
2003 38.2% 17.2% 31.1% 27.1%
2002 42.8% 21.3% 29.8% 22.2%
2001 41.4% 23% 30.7% 24.4%
2000 29.9% 21.4% 30.1% 20.9%
1999 44.5% 25.5% 31.8% 21.8%
1998 51.7% 25.6% 31.3% 19.6%
1997 43.8% 24.3% 30.9% 17.7%
1996 42.8% 26.5% 30.4% 18.7%
1995 52% 34.9% 29.6% 18%
1994 57.8% 37.7% 28.7% 16.4%
1993 58.2% 28.8% 32.4% 17.2%
1992 77.6% 27.9% 32.8% 14.1%
1991 208.9% 45.3% 33% 11.8%
1990 122.9% - 30.2% 12.9%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1990–1992, retrieved 2026-02-20).

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

In 2024, Kuwait's government spending was $80.8B, accounting for 50.4% of its GDP, while Namibia spent $5.34B, or 39.9% of GDP.

Debt-to-GDP ratio is 2.92% in Kuwait and 67.7% in Namibia, ranking 184/185 and 61/185, respectively.

Government deficit by year

Deficit/surplus
Kuwait

Namibia
1x
Year Deficit/surplus, % of GDP
Kuwait Namibia
2024 23.8% -3.59%
2023 28.2% -3.14%
2022 30% -6.33%
2021 9.98% -8.68%
2020 0.14% -8.07%
2019 13% -5.49%
2018 17.5% -5.09%
2017 15.3% -4.99%
2016 13.1% -9.3%
2015 16.6% -8.3%
2014 30% -6.44%
2013 40.6% -4.69%
2012 40.7% -3.1%
2011 38.8% -7.09%
2010 31.9% -4.98%
2009 31.3% -0.4%
2008 21.3% 3.48%
2007 37.1% 6.01%
2006 28% 3.41%
2005 38.9% -0.31%
2004 32.5% -2.67%
2003 27.2% -4.47%
2002 31% -1.38%
2001 45.2% -2.01%
2000 52.5% -0.79%
1999 28.2% -1.88%
1998 19.5% -2.76%
1997 29.5% -2.38%
1996 24.3% -3.7%
1995 11.7% -1.74%
1994 1.76% -0.57%
1993 -3.12% -2.73%
1992 -28.1% -2.55%
1991 -145% -1.59%
1990 -50% 1.08%

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

GeoRank.org/economy/kuwait/namibia | 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 Namibia's deficit of $480M, or 3.59% of GDP.

Over the past 35 years, Kuwait recorded a fiscal deficit in 4 of those years, while Namibia ran a deficit in 31 years. On average, Kuwait posted an annual surplus equal to 16.7% of GDP, compared to deficit of 3.06% of GDP for Namibia.

Inflation comparison by year

Inflation
Kuwait

Namibia
1x
Year Consumer prices inflation
Kuwait Namibia
2024 2.9% 4.2%
2023 3.64% 5.9%
2022 3.98% 6.1%
2021 3.42% 3.6%
2020 2.1% 2.2%
2019 1.09% 3.7%
2018 0.54% 4.3%
2017 2.17% 6.1%
2016 3.2% 6.7%
2015 3.27% 3.4%
2014 2.91% 5.3%
2013 2.68% 5.6%
2012 3.26% 6.7%
2011 4.84% 5%
2010 4.5% 4.9%
2009 4.61% 9.5%
2008 10.6% 9.1%
2007 5.48% 6.5%
2006 3.06% 5%
2005 4.14% 2.3%
2004 1.25% 4.1%
2003 0.96% 7.2%
2002 0.89% 12.7%
2001 1.3% 10.2%
2000 1.81% 10.2%
1999 2.99% 9.4%
1998 0.13% 6.6%
1997 0.68% 9.7%

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/namibia | CC BY

Over the past 28 years, Kuwait has recorded an average annual inflation rate of 2.94%, compared with 6.29% in Namibia. In 2024, inflation was 2.9% in Kuwait and 4.2% in Namibia.

Top exports between countries

Kuwait
Export category Export value
Machinery & equipment $57K
Raw materials & minerals $55K
Miscellaneous $23K
Namibia
Export category Export value
Wood & paper products $737K
Raw agricultural goods $154K
Miscellaneous $3K
Processed food, beverages & tobacco $3K
Animal & marine products $1K
Precious metals & jewellery $1K

Balance of trade

Kuwait Namibia
Current account balance
$46.7B
2024
-$1.89M
2024
Current account balance ranking
15/190
2024
78/190
2024
Current account balance, % of GDP
+29.1%
2024
-0.01%
2024
Goods imports
$33.4B
2024
$6.77B
2024
Goods exports
$77.5B
2024
$4.67B
2024
Service imports
$28.1B
2024
$2.47B
2024
Service exports
$12.2B
2024
$1.29B
2024
Imports of goods and services, % of GDP
38.3%
2023
68%
2024
Exports of goods and services, % of GDP
57.7%
2023
41.6%
2024

Economic freedom indices

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

Kuwait Namibia
Economic freedom 59.9 60.2
Economic freedom ranking 100/197 95/197
Property rights 42 63.1
Government integrity 47.9 51.5
Judicial effectiveness 43.4 67.2
Tax burden 97.7 66.4
Government spending 36.2 57.1
Fiscal health 99.9 60.5
Business freedom 57.4 58
Labor freedom 49.2 62.7
Monetary freedom 68.7 76.1
Trade freedom 75.8 69.8
Investment freedom 50 50
Financial freedom 50 40

Economic freedom comparison by year

Kuwait
Namibia
1x
Year Economic freedom index
Kuwait Namibia
2026 59.9 60.2
2025 59.9 58.7
2024 58.5 57.5
2023 56.7 57.7
2022 58.3 59.2
2021 64.1 62.6
2020 63.2 60.9
2019 60.8 58.7
2018 62.2 58.5
2017 65.1 62.5
2016 62.7 61.9
2015 62.5 59.6
2014 62.3 59.4
2013 63.1 60.3
2012 62.5 61.9
2011 64.9 62.7
2010 67.7 62.2
2009 65.6 62.4
2008 68.1 61.4
2007 66.4 63.5
2006 66.5 60.7
2005 64.6 61.4
2004 63.6 62.4
2003 66.7 67.3
2002 65.4 65.1
2001 68.2 64.8
2000 69.7 66.7
1999 69.5 66.1
1998 66.3 66.1
1997 64.8 61.6
1996 66.1 -

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

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

The Economic Freedom Index for Kuwait is 59.9, ranking 100/197, compared to 60.2 for Namibia, ranking 95/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Kuwait Namibia
Services, % of GDP
55.9%
2024
54.5%
2024
Industry, % of GDP
57.1%
2024
28.9%
2024
Agriculture, forestry, and fishing, % of GDP
0.49%
2024
7.29%
2024
GNI, Atlas method
$200B
2024
$12.8B
2024
GNI per capita, PPP
$63,270
2024
$11,300
2024
Total reserves including gold
$50.7B
2024
$3.36B
2024
Total reserves ranking
41/177
2024
115/177
2024
Net foreign direct investment
$9.71B
2024
-$1.93M
2024
Net inflows of foreign direct investment
$615M
2024
$1.97B
2024
Net outflows of foreign direct investment
$10.3B
2024
$44.5M
2024
Poverty at national poverty lines n/a
17.4%
2015
Gross capital formation, % of GDP
17.7%
2023
25.6%
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/namibia | 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. TradeMap (2020–2024, retrieved 2026-02-08)
  6. International Monetary Fund (IMF) | Public Finances in Modern History (1990–1992, retrieved 2026-02-20)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. 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.