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Economy of Kuwait vs Papua New Guinea compared: GDP & Debt

Updated on by Georank

Kuwait has a GDP of $157B compared to $32.5B for Papua New Guinea, ranking 59/197 and 111/197 by economy size, respectively.

Kuwait has $22.9B in government debt (14.6% of GDP), compared to $16.9B (52.1% of GDP) in Papua New Guinea.

Kuwait vs Papua New Guinea GDP by year

Kuwait
Papua New Guinea
1x
Year GDP, current $
Kuwait Papua New Guinea
2025 $157,209,026,926 $32,498,658,654
2024 $160,903,106,639 $30,803,971,189
2023 $165,462,656,227 $30,816,328,066
2022 $183,502,046,694 $31,653,230,962
2021 $148,350,671,489 $26,113,409,478
2020 $111,045,470,606 $23,848,447,850
2019 $140,856,394,861 $24,750,626,030
2018 $138,646,316,351 $24,109,780,708
2017 $120,687,539,806 $22,742,699,138
2016 $109,406,674,125 $20,758,876,953
2015 $114,585,555,689 $21,723,437,010
2014 $162,650,450,685 $23,210,823,987
2013 $174,168,116,535 $21,261,338,065
2012 $174,047,662,680 $21,295,168,666
2011 $154,039,231,246 $17,985,138,066
2010 $115,416,245,242 $14,250,786,675
2009 $105,968,691,905 $11,619,456,449
2008 $147,379,737,230 $11,670,892,801
2007 $114,634,043,362 $9,545,028,944
2006 $101,557,330,723 $8,354,911,041
2005 $80,798,630,137 $4,865,892,972
2004 $59,439,090,601 $3,927,157,867
2003 $47,874,582,232 $3,536,411,824
2002 $38,135,788,414 $2,999,511,040
2001 $34,889,559,870 $3,081,024,212
2000 $37,718,743,480 $3,521,339,699
1999 $30,122,365,849 $3,477,038,204
1998 $25,943,705,784 $3,789,443,015
1997 $30,350,190,704 $4,936,615,299
1996 $31,492,373,309 $5,155,311,077
1995 $27,186,980,647 $4,636,057,476
1994 $24,848,483,838 $5,502,786,070
1993 $23,941,391,391 $4,974,550,286
1992 $19,858,555,215 $4,377,980,510
1991 $11,009,993,703 $3,787,394,958
1990 $18,427,777,778 $3,219,729,083
1989 $24,313,855,653 $3,546,472,566
1988 $20,690,322,153 $3,656,177,881
1987 $22,368,704,134 $3,143,851,794
1986 $17,903,989,745 $2,647,995,602
1985 $21,445,970,614 $2,423,339,172
1984 $21,700,082,753 $2,552,662,617
1983 $20,871,081,080 $2,562,351,551
1982 $21,577,153,356 $2,368,719,683
1981 $25,058,020,338 $2,498,190,847
1980 $28,638,868,356 $2,545,808,456
1979 $24,749,063,922 $2,293,760,511
1978 $15,503,557,496 $1,947,878,831
1977 $14,137,406,741 $1,640,746,619
1976 $13,132,252,802 $1,511,843,235
1975 $12,022,811,621 $1,356,603,608
1974 $13,006,948,296 $1,467,417,672
1973 $5,408,804,607 $1,299,079,410
1972 $4,450,537,925 $858,761,926
1971 $3,880,392,195 $717,750,278
1970 $2,873,638,851 $645,568,215
1969 $2,769,198,892 $551,263,864
1968 $2,662,798,935 $485,184,190
1967 $2,441,599,023 $441,728,183
1966 $2,391,199,044 $390,992,063
1965 $2,097,199,161 $344,176,055
1964 $2,071,668,533 $305,312,049
1963 $1,900,895,857 $275,968,044
1962 $1,828,107,503 $261,184,042
1961 - $244,832,039
1960 - $230,496,037

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/kuwait/papua-new-guinea | CC BY

GDP per capita in Kuwait vs Papua New Guinea by year

Kuwait
GDP per capita

GDP per capita, PPP
Papua New Guinea
GDP per capita

GDP per capita, PPP
1x
Year Current $
Kuwait Papua New Guinea
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $32,312 - $3,020 -
2024 $32,856 $52,444 $2,912 $4,875
2023 $34,092 $53,025 $2,966 $4,668
2022 $39,982 $55,043 $3,102 $4,420
2021 $34,019 $50,652 $2,608 $3,977
2020 $25,236 $41,462 $2,430 $3,900
2019 $31,708 $50,703 $2,576 $4,060
2018 $32,068 $51,371 $2,566 $3,910
2017 $29,048 $46,566 $2,478 $3,923
2016 $27,324 $41,862 $2,316 $3,813
2015 $29,882 $45,267 $2,485 $3,670
2014 $44,369 $68,337 $2,723 $3,500
2013 $49,651 $76,813 $2,561 $3,110
2012 $52,155 $82,090 $2,635 $3,026
2011 $49,170 $79,037 $2,288 $2,919
2010 $39,212 $75,184 $1,867 $2,912
2009 $37,907 $80,110 $1,569 $2,692
2008 $55,585 $90,337 $1,625 $2,583
2007 $45,709 $91,435 $1,371 $2,622
2006 $42,947 $89,075 $1,238 $2,444
2005 $36,123 $84,968 $744 $2,322
2004 $27,552 $77,227 $621 $2,187
2003 $22,691 $69,752 $577 $2,142
2002 $18,513 $59,713 $506 $2,125
2001 $17,374 $58,553 $538 $2,168
2000 $19,296 $58,703 $636 $2,196
1999 $15,854 $56,406 $650 $2,280
1998 $14,067 $58,344 $733 $2,285
1997 $16,977 $57,420 $990 $2,432
1996 $18,201 $56,913 $1,071 $2,578
1995 $16,168 $57,163 $998 $2,436
1994 $14,930 $53,946 $1,228 $2,558
1993 $14,318 $48,482 $1,151 $2,451
1992 $12,146 $36,149 $1,051 $2,100
1991 $8,147 $23,390 $942 $1,869
1990 $10,938 $30,763 $826 $1,703
1989 $10,965 - $934 -
1988 $9,692 - $985 -
1987 $10,896 - $865 -
1986 $9,077 - $745 -
1985 $11,322 - $697 -
1984 $11,919 - $750 -
1983 $11,965 - $769 -
1982 $12,979 - $726 -
1981 $15,825 - $781 -
1980 $19,032 - $813 -
1979 $17,386 - $748 -
1978 $11,567 - $648 -
1977 $11,238 - $558 -
1976 $11,141 - $525 -
1975 $10,882 - $482 -
1974 $12,527 - $533 -
1973 $5,532 - $483 -
1972 $4,836 - $327 -
1971 $4,486 - $279.7 -
1970 $3,552 - $257.6 -
1969 $3,695 - $225.3 -
1968 $3,872 - $202.9 -
1967 $3,887 - $189 -
1966 $4,176 - $171.1 -
1965 $4,024 - $153.9 -
1964 $4,379 - $139.5 -
1963 $4,445 - $128.9 -
1962 $4,748 - $124.7 -
1961 - - $119.7 -
1960 - - $115.5 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/kuwait/papua-new-guinea | CC BY

Kuwait's GDP per capita is $32,312, ranking 41/197, compared to $3,020 in Papua New Guinea, ranking 147/197. Adjusted for purchasing power (GDP per capita PPP), Kuwait ranks 40th at $52,444, while Papua New Guinea ranks 159th at $4,875.

Economic indicators

Kuwait Papua New Guinea
Gross domestic product
$157B
2025
$32.5B
2025
GDP rank
59/197
2025
111/197
2025
GDP growth
2.73%
2024-2025
5.64%
2024-2025
GDP per capita
$32,312
2025
$3,020
2025
GDP per capita rank
41/197
2025
147/197
2025
GDP per capita, PPP
$52,444
2024
$4,875
2024
GDP per capita PPP rank
40/197
2024
159/197
2024
Government debt
$22.9B
2025
$16.9B
2025
Debt-to-GDP ratio
14.6%
2025
52.1%
2025
Government debt per person
$4,714
2025
$1,575
2025
Government debt per person rank
87/185
2025
129/185
2025
Average annual personal income after taxes
$24,940
2026
$2,615
2026
Market capitalization of domestic companies
$172B
2025
$1.68B
2017
Income share by richest 10% n/a
31%
2009
Income share by poorest 10% n/a
1.9%
2009
Government expenditure, % of GDP
50.1%
2025
19.7%
2025
Consumer prices inflation
2.36%
2024-2025
4.42%
2024-2025
Central bank interest rate
3.5%
2025
5%
2025
Unemployment rate
2.16%
2016
2.69%
2022
Population
4981316
11045681

Spending and national debt comparison by year

Kuwait
Spending

Debt
Papua New Guinea
Spending

Debt
1x
Year % of GDP
Kuwait Papua New Guinea
Government spending Government debt Government spending Government debt
2025 50.1% 14.6% 19.7% 52.1%
2024 48% 2.91% 20.9% 53.3%
2023 48.3% 3.13% 22.3% 53.9%
2022 39.6% 2.95% 21.9% 48.2%
2021 48.3% 7.2% 22% 52.6%
2020 62.9% 10.2% 23.5% 48.7%
2019 50.2% 10.5% 21.3% 38.2%
2018 51% 14.3% 20.3% 36.7%
2017 51.9% 19.6% 18.4% 32.5%
2016 54% 9.88% 20.9% 33.7%
2015 55.3% 4.6% 22.8% 29.9%
2014 45% 3.43% 27.1% 26.9%
2013 38.4% 3.09% 27.6% 24.9%
2012 38.1% 3.6% 22.4% 19.1%
2011 39.6% 4.64% 19.7% 16.3%
2010 45.4% 6.16% 18.4% 17.3%
2009 42.8% 6.65% 24.7% 21.7%
2008 40.8% 5.38% 19.8% 21.6%
2007 30.4% 7.05% 18% 22.2%
2006 32.2% 7.79% 19.4% 26%
2005 28.7% 10.2% 20.6% 31.6%
2004 35.2% 13.9% 19.4% 37.2%
2003 38% 17.2% 18.7% 40.4%
2002 42.5% 21.3% 20.8% 48.4%
2001 41.2% 23% 21.6% 47.7%
2000 29.7% 21.4% 20.5% 42.3%
1999 44.3% 25.5% 21.4% 41.8%
1998 51.4% 25.6% 20% 45.7%
1997 43.5% 24.3% 20.6% 43.9%
1996 42.5% 26.5% 17.6% 37.8%
1995 51.7% 34.9% 17.1% 36.6%
1994 57.5% 37.7% 19.3% 40.1%
1993 58% 28.8% 23.5% 30%
1992 77.4% 27.9% 22.8% 30.4%
1991 208.1% 45.3% 22.4% -
1990 122.4% - 24.5% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1992–1993, retrieved 2026-07-08).

GeoRank.org/economy/kuwait/papua-new-guinea | CC BY

In 2025, Kuwait's government spending was $78.8B, accounting for 50.1% of its GDP, while Papua New Guinea spent $6.4B, or 19.7% of GDP.

Debt-to-GDP ratio is 14.6% in Kuwait and 52.1% in Papua New Guinea, ranking 177/185 and 99/185, respectively.

Government deficit by year

Deficit/surplus
Kuwait

Papua New Guinea
1x
Year Deficit/surplus, % of GDP
Kuwait Papua New Guinea
2025 28.4% -2.36%
2024 26% -3.31%
2023 28.2% -4.34%
2022 30% -5.25%
2021 9.99% -6.84%
2020 0.16% -8.85%
2019 13% -4.98%
2018 17.6% -2.58%
2017 15.3% -2.47%
2016 12.8% -4.75%
2015 16.3% -4.55%
2014 29.8% -6.27%
2013 40.4% -6.87%
2012 40.5% -1.19%
2011 38.6% 2.22%
2010 31.7% 3.06%
2009 31.1% -5.48%
2008 21.2% 2.73%
2007 36.9% 6.9%
2006 27.8% 5.34%
2005 38.8% 2.85%
2004 32.3% 2.03%
2003 27% 0.19%
2002 30.9% -1.75%
2001 44.9% -1.33%
2000 52.3% 0.3%
1999 28% -1.94%
1998 19.4% -0.16%
1997 29.4% 0.67%
1996 24.2% 2.05%
1995 11.7% 1.08%
1994 1.71% -1.01%
1993 -3.2% -4.9%
1992 -28% -4.33%
1991 -144.5% -0.62%
1990 -49.9% -2.04%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

GeoRank.org/economy/kuwait/papua-new-guinea | CC BY

In 2025, Kuwait's government surplus, the difference between spending and revenue, was $44.6B, equivalent to 28.4% of GDP. This compares to Papua New Guinea's deficit of $766M, or 2.36% of GDP.

Over the past 36 years, Kuwait recorded a fiscal deficit in 4 of those years, while Papua New Guinea ran a deficit in 24 years. On average, Kuwait posted an annual surplus equal to 17% of GDP, compared to deficit of 1.63% of GDP for Papua New Guinea.

Inflation comparison by year

Inflation
Kuwait

Papua New Guinea
1x
Year Consumer prices inflation
Kuwait Papua New Guinea
2025 2.36% 4.42%
2024 2.9% 0.6%
2023 3.64% 2.3%
2022 3.98% 5.25%
2021 3.42% 4.48%
2020 2.1% 4.87%
2019 1.09% 3.93%
2018 0.54% 4.37%
2017 2.17% 5.42%
2016 3.2% 6.67%
2015 3.27% 6%
2014 2.91% 5.22%
2013 2.68% 4.96%
2012 3.26% 4.54%
2011 4.84% 4.44%
2010 4.5% 6.01%
2009 4.61% 6.92%
2008 10.6% 10.8%
2007 5.48% 0.91%
2006 3.06% 2.37%
2005 4.14% 1.78%
2004 1.25% 2.16%
2003 0.96% 14.7%
2002 0.89% 11.8%
2001 1.3% 9.3%
2000 1.81% 15.6%
1999 2.99% 14.9%
1998 0.13% 13.6%
1997 0.68% 3.96%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/kuwait/papua-new-guinea | CC BY

Over the past 29 years, Kuwait has recorded an average annual inflation rate of 2.92%, compared with 6.29% in Papua New Guinea. In 2025, inflation was 2.36% in Kuwait and 4.42% in Papua New Guinea.

Top exports between countries

Kuwait
Export category Export value
Machinery & equipment $736K
Miscellaneous $6K
Metals $2K
Papua New Guinea
Export category Export value
Machinery & equipment $26K
Metals $2K

Balance of trade

Kuwait Papua New Guinea
Current account balance
$35.7B
2025
$4.77B
2024
Current account balance ranking
16/190
2025
32/190
2024
Current account balance, % of GDP
+22.7%
2025
+15.5%
2024
Goods imports
$37.5B
2025
$4.69B
2024
Goods exports
$70.7B
2025
$13.4B
2024
Service imports
$29.6B
2025
$2.4B
2024
Service exports
$12.7B
2025
$75.2M
2024
Imports of goods and services, % of GDP
38.2%
2024
58.9%
2004
Exports of goods and services, % of GDP
55.8%
2024
72.2%
2004

Economic freedom indices

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

Kuwait Papua New Guinea
Economic freedom 59.9 54.3
Economic freedom ranking 100/197 134/197
Property rights 42 45
Government integrity 47.9 30.8
Judicial effectiveness 43.4 41.1
Tax burden 97.7 70.9
Government spending 36.2 86.1
Fiscal health 99.9 65.3
Business freedom 57.4 34.2
Labor freedom 49.2 65.1
Monetary freedom 68.7 77.4
Trade freedom 75.8 80.2
Investment freedom 50 25
Financial freedom 50 30

Economic freedom comparison by year

Kuwait
Papua New Guinea
1x
Year Economic freedom index
Kuwait Papua New Guinea
2026 59.9 54.3
2025 59.9 52.5
2024 58.5 49.4
2023 56.7 51.7
2022 58.3 54.6
2021 64.1 58.9
2020 63.2 58.4
2019 60.8 58.4
2018 62.2 55.7
2017 65.1 50.9
2016 62.7 53.2
2015 62.5 53.1
2014 62.3 53.9
2013 63.1 53.6
2012 62.5 53.8
2011 64.9 52.6
2010 67.7 53.5
2009 65.6 54.8
2008 68.1 -
2007 66.4 -
2006 66.5 -
2005 64.6 -
2004 63.6 -
2003 66.7 -
2002 65.4 -
2001 68.2 57.2
2000 69.7 55.8
1999 69.5 56.3
1998 66.3 55.2
1997 64.8 56.7
1996 66.1 58.6

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-07-08).

GeoRank.org/economy/kuwait/papua-new-guinea | CC BY

The Economic Freedom Index for Kuwait is 59.9, ranking 100/197, compared to 54.3 for Papua New Guinea, ranking 134/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Kuwait Papua New Guinea
Services, % of GDP
59.6%
2025
42%
2024
Industry, % of GDP
54.1%
2025
36.5%
2024
Agriculture, forestry, and fishing, % of GDP
0.53%
2025
17%
2024
GNI, Atlas method
$201B
2024
$31.2B
2025
GNI per capita, PPP
$64,040
2024
$4,840
2025
Total reserves including gold
$51.7B
2025
$3.71B
2024
Total reserves ranking
47/177
2025
114/177
2024
Net foreign direct investment
$2.58B
2025
$968M
2024
Net inflows of foreign direct investment
$615M
2024
-$198M
2024
Net outflows of foreign direct investment
$10.3B
2024
$770M
2024
Servicing debt to the IMF, % of GNI n/a
20.4%
2024
Poverty at national poverty lines n/a
39.9%
2009
Gross capital formation, % of GDP
15.1%
2024
20%
2004

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/kuwait/papua-new-guinea | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. TradeMap (2021–2024, retrieved 2026-07-08)
  6. International Monetary Fund (IMF) | Public Finances in Modern History (1992–1993, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)

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.