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Economy of Kuwait vs Paraguay compared: GDP & Debt

Updated on by Georank

Kuwait has a GDP of $157B compared to $49.3B for Paraguay, ranking 59/197 and 97/197 by economy size, respectively.

Kuwait has $22.9B in government debt (14.6% of GDP), compared to $18.8B (38.1% of GDP) in Paraguay.

Kuwait vs Paraguay GDP by year

Kuwait
Paraguay
1x
Year GDP, current $
Kuwait Paraguay
2025 $157,209,026,926 $49,278,227,554
2024 $160,903,106,639 $44,738,819,362
2023 $165,462,656,227 $43,140,465,596
2022 $183,502,046,694 $41,841,201,627
2021 $148,350,671,489 $39,937,357,256
2020 $111,045,470,606 $35,432,178,068
2019 $140,856,394,861 $37,925,338,329
2018 $138,646,316,351 $40,225,448,341
2017 $120,687,539,806 $38,997,129,474
2016 $109,406,674,125 $36,089,700,223
2015 $114,585,555,689 $36,211,447,840
2014 $162,650,450,685 $40,377,929,296
2013 $174,168,116,535 $38,501,122,141
2012 $174,047,662,680 $33,271,921,136
2011 $154,039,231,246 $33,756,238,767
2010 $115,416,245,242 $27,260,886,405
2009 $105,968,691,905 $22,355,151,162
2008 $147,379,737,230 $24,615,267,664
2007 $114,634,043,362 $17,856,393,235
2006 $101,557,330,723 $13,429,430,050
2005 $80,798,630,137 $10,737,500,188
2004 $59,439,090,601 $9,624,440,836
2003 $47,874,582,232 $7,691,367,471
2002 $38,135,788,414 $7,196,260,657
2001 $34,889,559,870 $8,495,806,432
2000 $37,718,743,480 $8,855,705,140
1999 $30,122,365,849 $8,837,070,236
1998 $25,943,705,784 $9,260,481,572
1997 $30,350,190,704 $9,965,225,678
1996 $31,492,373,309 $9,788,391,781
1995 $27,186,980,647 $9,062,131,475
1994 $24,848,483,838 $7,870,982,005
1993 $23,941,391,391 $7,249,533,620
1992 $19,858,555,215 $7,157,424,031
1991 $11,009,993,703 $6,984,367,763
1990 $18,427,777,778 $5,812,114,523
1989 $24,313,855,653 $4,757,732,200
1988 $20,690,322,153 $4,255,683,528
1987 $22,368,704,134 $3,971,044,724
1986 $17,903,989,745 $3,723,993,943
1985 $21,445,970,614 $3,282,449,236
1984 $21,700,082,753 $4,502,462,807
1983 $20,871,081,080 $5,673,248,726
1982 $21,577,153,356 $5,419,411,765
1981 $25,058,020,338 $5,624,515,873
1980 $28,638,868,356 $4,448,087,302
1979 $24,749,063,922 $3,416,777,778
1978 $15,503,557,496 $2,559,857,143
1977 $14,137,406,741 $2,092,158,730
1976 $13,132,252,802 $1,698,960,317
1975 $12,022,811,621 $1,511,420,635
1974 $13,006,948,296 $1,333,475,397
1973 $5,408,804,607 $995,531,746
1972 $4,450,537,925 $769,039,683
1971 $3,880,392,195 $664,571,429
1970 $2,873,638,851 $594,611,111
1969 $2,769,198,892 $556,293,651
1968 $2,662,798,935 $517,650,794
1967 $2,441,599,023 $492,674,603
1966 $2,391,199,044 $465,888,889
1965 $2,097,199,161 $443,587,302
1964 $2,071,668,533 $408,349,206
1963 $1,900,895,857 $383,904,762
1962 $1,828,107,503 $360,698,413
1961 - $322,053,713
1960 - $288,884,368

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

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

GDP per capita in Kuwait vs Paraguay by year

Kuwait
GDP per capita

GDP per capita, PPP
Paraguay
GDP per capita

GDP per capita, PPP
1x
Year Current $
Kuwait Paraguay
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $32,312 - $7,027 -
2024 $32,856 $52,444 $6,457 $18,524
2023 $34,092 $53,025 $6,303 $17,564
2022 $39,982 $55,043 $6,189 $16,347
2021 $34,019 $50,652 $5,975 $15,406
2020 $25,236 $41,462 $5,365 $14,309
2019 $31,708 $50,703 $5,821 $14,150
2018 $32,068 $51,371 $6,258 $14,139
2017 $29,048 $46,566 $6,152 $13,977
2016 $27,324 $41,862 $5,775 $13,329
2015 $29,882 $45,267 $5,879 $12,679
2014 $44,369 $68,337 $6,652 $12,607
2013 $49,651 $76,813 $6,436 $12,137
2012 $52,155 $82,090 $5,642 $10,954
2011 $49,170 $79,037 $5,805 $11,442
2010 $39,212 $75,184 $4,751 $10,893
2009 $37,907 $80,110 $3,942 $9,802
2008 $55,585 $90,337 $4,385 $9,867
2007 $45,709 $91,435 $3,212 $9,179
2006 $42,947 $89,075 $2,439 $8,561
2005 $36,123 $84,968 $1,971 $8,007
2004 $27,552 $77,227 $1,786 $7,686
2003 $22,691 $69,752 $1,444 $7,276
2002 $18,513 $59,713 $1,368 $6,924
2001 $17,374 $58,553 $1,638 $6,916
2000 $19,296 $58,703 $1,736 $6,937
1999 $15,854 $56,406 $1,766 $7,080
1998 $14,067 $58,344 $1,890 $7,227
1997 $16,977 $57,420 $2,079 $7,299
1996 $18,201 $56,913 $2,088 $7,040
1995 $16,168 $57,163 $1,979 $6,966
1994 $14,930 $53,946 $1,760 $6,542
1993 $14,318 $48,482 $1,662 $6,234
1992 $12,146 $36,149 $1,683 $5,952
1991 $8,147 $23,390 $1,685 $5,873
1990 $10,938 $30,763 $1,440 $5,637
1989 $10,965 - $1,211 -
1988 $9,692 - $1,114 -
1987 $10,896 - $1,069 -
1986 $9,077 - $1,031 -
1985 $11,322 - $935 -
1984 $11,919 - $1,319 -
1983 $11,965 - $1,710 -
1982 $12,979 - $1,680 -
1981 $15,825 - $1,793 -
1980 $19,032 - $1,457 -
1979 $17,386 - $1,149 -
1978 $11,567 - $883 -
1977 $11,238 - $740 -
1976 $11,141 - $616 -
1975 $10,882 - $562 -
1974 $12,527 - $508 -
1973 $5,532 - $389 -
1972 $4,836 - $308 -
1971 $4,486 - $272.1 -
1970 $3,552 - $249 -
1969 $3,695 - $238.2 -
1968 $3,872 - $226.8 -
1967 $3,887 - $220.9 -
1966 $4,176 - $213.9 -
1965 $4,024 - $208.7 -
1964 $4,379 - $197 -
1963 $4,445 - $189.9 -
1962 $4,748 - $182.8 -
1961 - - $167.1 -
1960 - - $153.4 -

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

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

Kuwait's GDP per capita is $32,312, ranking 41/197, compared to $7,027 in Paraguay, ranking 105/197. Adjusted for purchasing power (GDP per capita PPP), Kuwait ranks 40th at $52,444, while Paraguay ranks 102nd at $18,524.

Economic indicators

Kuwait Paraguay
Gross domestic product
$157B
2025
$49.3B
2025
GDP rank
59/197
2025
97/197
2025
GDP growth
2.73%
2024-2025
6.64%
2024-2025
GDP per capita
$32,312
2025
$7,027
2025
GDP per capita rank
41/197
2025
105/197
2025
GDP per capita, PPP
$52,444
2024
$18,524
2024
GDP per capita PPP rank
40/197
2024
102/197
2024
Government debt
$22.9B
2025
$18.8B
2025
Debt-to-GDP ratio
14.6%
2025
38.1%
2025
Government debt per person
$4,714
2025
$2,679
2025
Government debt per person rank
87/185
2025
111/185
2025
Average annual personal income after taxes
$24,940
2026
$6,874
2026
Market capitalization of domestic companies
$172B
2025
$313M
1999
Income share by richest 10% n/a
35%
2024
Income share by poorest 10% n/a
2%
2024
Government expenditure, % of GDP
50.1%
2025
19.6%
2025
Consumer prices inflation
2.36%
2024-2025
4.04%
2024-2025
Central bank interest rate
3.5%
2025
5.75%
2026
Unemployment rate
2.16%
2016
4.63%
2025
Population
4981316
7138671

Spending and national debt comparison by year

Kuwait
Spending

Debt
Paraguay
Spending

Debt
1x
Year % of GDP
Kuwait Paraguay
Government spending Government debt Government spending Government debt
2025 50.1% 14.6% 19.6% 38.1%
2024 48% 2.91% 20.9% 44.6%
2023 48.3% 3.13% 21.5% 41%
2022 39.6% 2.95% 20.2% 40.6%
2021 48.3% 7.2% 20.5% 37.5%
2020 62.9% 10.2% 22.6% 36.9%
2019 50.2% 10.5% 20.1% 25.8%
2018 51% 14.3% 18.5% 22.3%
2017 51.9% 19.6% 18.1% 19.8%
2016 54% 9.88% 17.7% 19.4%
2015 55.3% 4.6% 18% 18.6%
2014 45% 3.43% 17.1% 15.6%
2013 38.4% 3.09% 17.1% 13.5%
2012 38.1% 3.6% 17.6% 12.3%
2011 39.6% 4.64% 14.7% 11.1%
2010 45.4% 6.16% 13.3% 13%
2009 42.8% 6.65% 14.3% 14.9%
2008 40.8% 5.38% 11.8% 16%
2007 30.4% 7.05% 13.1% 16.8%
2006 32.2% 7.79% 14.1% 21%
2005 28.7% 10.2% 14% 28.3%
2004 35.2% 13.9% 14% 36%
2003 38% 17.2% 14.6% 37.5%
2002 42.5% 21.3% 17.6% 50.5%
2001 41.2% 23% 19% 37.1%
2000 29.7% 21.4% 19.6% 33.6%
1999 44.3% 25.5% 19.2% 32%
1998 51.4% 25.6% 18% 22.1%
1997 43.5% 24.3% 18.1% 18%
1996 42.5% 26.5% 16.9% 16.8%
1995 51.7% 34.9% 15.7% 17.6%
1994 57.5% 37.7% 14.5% 18.7%
1993 58% 28.8% 12.9% 26.6%
1992 77.4% 27.9% 13% 34.4%
1991 208.1% 45.3% 11.4% 49.4%
1990 122.4% - 10.5% 67%
1989 - - 11.8% 52.9%
1988 - - 9.75% 58.9%
1987 - - 10.1% 68.7%
1986 - - 9.25% 57.1%
1985 - - 11.4% 54.7%
1984 - - 13% 31%
1983 - - 13% 22.6%
1982 - - 13.2% 21.3%
1981 - - 13.3% 17.4%
1980 - - 11.6% 17.4%
1979 - - 11.7% 19.7%
1978 - - 11.9% 20.9%
1977 - - 11.2% 18.8%
1976 - - 9.8% 14.1%
1975 - - 10.5% 12.6%
1974 - - 9.44% 12.5%
1973 - - 11.2% 15.4%
1972 - - 12.5% 18.2%
1971 - - 12.3% 18.9%
1970 - - 13.3% 19.2%
1969 - - 14% -
1968 - - 13.5% -
1967 - - 12.2% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1967–1989, retrieved 2026-07-08).

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

In 2025, Kuwait's government spending was $78.8B, accounting for 50.1% of its GDP, while Paraguay spent $9.66B, or 19.6% of GDP.

Debt-to-GDP ratio is 14.6% in Kuwait and 38.1% in Paraguay, ranking 177/185 and 138/185, respectively.

Government deficit by year

Deficit/surplus
Kuwait

Paraguay
1x
Year Deficit/surplus, % of GDP
Kuwait Paraguay
2025 28.4% -1.69%
2024 26% -2.1%
2023 28.2% -3.81%
2022 30% -2.65%
2021 9.99% -3.39%
2020 0.16% -5.72%
2019 13% -2.44%
2018 17.6% -1.01%
2017 15.3% -0.44%
2016 12.8% -0.37%
2015 16.3% -0.44%
2014 29.8% -0.27%
2013 40.4% -1.16%
2012 40.5% -0.58%
2011 38.6% 1.29%
2010 31.7% 1.54%
2009 31.1% 0.59%
2008 21.2% 2.29%
2007 36.9% 1.27%
2006 27.8% 0.91%
2005 38.8% 0.74%
2004 32.3% 1.33%
2003 27% -0.07%
2002 30.9% -1.89%
2001 44.9% 0.07%
2000 52.3% -0.55%
1999 28% 2.67%
1998 19.4% 4.28%
1997 29.4% 3%
1996 24.2% 2.43%
1995 11.7% 2.78%
1994 1.71% 4.59%
1993 -3.2% 4.27%
1992 -28% 3.1%
1991 -144.5% 3.41%
1990 -49.9% 7.56%
1989 - 5.48%
1988 - 3.01%
1987 - 2.68%
1986 - 3.08%
1985 - 0.85%
1984 - -0.42%
1983 - 0.27%
1982 - 1.52%
1981 - 0.15%
1980 - 3.4%
1979 - 4.13%
1978 - -3.42%
1977 - -0.19%
1976 - -0.06%
1975 - -1.24%
1974 - 1.67%
1973 - -0.91%
1972 - -2.51%
1971 - -1.25%
1970 - -1.26%
1969 - -1.62%
1968 - -2.34%
1967 - -1.7%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1967–1989, retrieved 2026-07-08).

GeoRank.org/economy/kuwait/paraguay | 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 Paraguay's deficit of $832M, or 1.69% of GDP.

Over the past 36 years, Kuwait recorded a fiscal deficit in 4 of those years, while Paraguay ran a deficit in 17 years. On average, Kuwait posted an annual surplus equal to 17% of GDP, compared to surplus of 0.54% of GDP for Paraguay.

Inflation comparison by year

Inflation
Kuwait

Paraguay
1x
Year Consumer prices inflation
Kuwait Paraguay
2025 2.36% 4.04%
2024 2.9% 3.84%
2023 3.64% 4.63%
2022 3.98% 9.77%
2021 3.42% 4.79%
2020 2.1% 1.77%
2019 1.09% 2.76%
2018 0.54% 3.98%
2017 2.17% 3.6%
2016 3.2% 4.09%
2015 3.27% 3.13%
2014 2.91% 5.03%
2013 2.68% 2.68%
2012 3.26% 3.68%
2011 4.84% 8.25%
2010 4.5% 4.65%
2009 4.61% 2.59%
2008 10.6% 10.2%
2007 5.48% 8.13%
2006 3.06% 9.59%
2005 4.14% 6.81%
2004 1.25% 4.32%
2003 0.96% 14.2%
2002 0.89% 10.5%
2001 1.3% 7.27%
2000 1.81% 8.98%
1999 2.99% 6.75%
1998 0.13% 11.6%
1997 0.68% 6.95%

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

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

Over the past 29 years, Kuwait has recorded an average annual inflation rate of 2.92%, compared with 6.16% in Paraguay. In 2025, inflation was 2.36% in Kuwait and 4.04% in Paraguay.

Top exports between countries

Kuwait
Export category Export value
Raw materials & minerals $30K
Miscellaneous $3K
Paraguay
Export category Export value
Animal & marine products $23.9M
Wood & paper products $711K
Processed food, beverages & tobacco $119K
Raw agricultural goods $73K
Chemicals & pharma $9K

Balance of trade

Kuwait Paraguay
Current account balance
$35.7B
2025
-$1.57B
2025
Current account balance ranking
16/190
2025
131/190
2025
Current account balance, % of GDP
+22.7%
2025
-3.18%
2025
Goods imports
$37.5B
2025
$17.5B
2025
Goods exports
$70.7B
2025
$15.4B
2025
Service imports
$29.6B
2025
$2.75B
2025
Service exports
$12.7B
2025
$3.72B
2025
Imports of goods and services, % of GDP
38.2%
2024
39.3%
2025
Exports of goods and services, % of GDP
55.8%
2024
37.2%
2025

Economic freedom indices

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

Kuwait Paraguay
Economic freedom 59.9 66.4
Economic freedom ranking 100/197 61/197
Property rights 42 44.2
Government integrity 47.9 27.3
Judicial effectiveness 43.4 38.4
Tax burden 97.7 95.9
Government spending 36.2 86.9
Fiscal health 99.9 83
Business freedom 57.4 72
Labor freedom 49.2 44.1
Monetary freedom 68.7 76.5
Trade freedom 75.8 78.4
Investment freedom 50 80
Financial freedom 50 70

Economic freedom comparison by year

Kuwait
Paraguay
1x
Year Economic freedom index
Kuwait Paraguay
2026 59.9 66.4
2025 59.9 65.2
2024 58.5 60.1
2023 56.7 61
2022 58.3 62.9
2021 64.1 62.6
2020 63.2 63
2019 60.8 61.8
2018 62.2 62.1
2017 65.1 62.4
2016 62.7 61.5
2015 62.5 61.1
2014 62.3 62
2013 63.1 61.1
2012 62.5 61.8
2011 64.9 62.3
2010 67.7 61.3
2009 65.6 61
2008 68.1 60
2007 66.4 58.3
2006 66.5 55.6
2005 64.6 53.4
2004 63.6 56.7
2003 66.7 58.2
2002 65.4 59.6
2001 68.2 60.3
2000 69.7 64
1999 69.5 63.7
1998 66.3 65.2
1997 64.8 67.3
1996 66.1 67.1
1995 - 65.9

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for Kuwait is 59.9, ranking 100/197, compared to 66.4 for Paraguay, ranking 61/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Kuwait Paraguay
Services, % of GDP
59.6%
2025
48.1%
2025
Industry, % of GDP
54.1%
2025
32.3%
2025
Agriculture, forestry, and fishing, % of GDP
0.53%
2025
11.6%
2025
GNI, Atlas method
$201B
2024
$47.4B
2025
GNI per capita, PPP
$64,040
2024
$19,390
2025
Total reserves including gold
$51.7B
2025
$9.57B
2024
Total reserves ranking
47/177
2025
82/177
2024
Net foreign direct investment
$2.58B
2025
-$945M
2025
Net inflows of foreign direct investment
$615M
2024
$1.1B
2024
Net outflows of foreign direct investment
$10.3B
2024
$166M
2024
Servicing debt to the IMF, % of GNI n/a
4.58%
2024
Poverty at national poverty lines n/a
20.1%
2024
Gross capital formation, % of GDP
15.1%
2024
25.3%
2025

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/paraguay | 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. International Monetary Fund (IMF) | Public Finances in Modern History (1967–1989, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2022–2025, 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.