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Economy of Kuwait vs Qatar compared: GDP & Debt

Updated on by Georank

Kuwait has a GDP of $157B compared to $216B for Qatar, ranking 59/197 and 56/197 by economy size, respectively.

Kuwait has $22.9B in government debt (14.6% of GDP), compared to $89.2B (41.4% of GDP) in Qatar.

Kuwait vs Qatar GDP by year

Kuwait
Qatar
1x
Year GDP, current $
Kuwait Qatar
2025 $157,209,026,926 $215,559,615,385
2024 $160,903,106,639 $216,294,505,495
2023 $165,462,656,227 $213,002,809,341
2022 $183,502,046,694 $235,709,325,714
2021 $148,350,671,489 $179,732,009,560
2020 $111,045,470,606 $144,411,363,352
2019 $140,856,394,861 $176,371,267,692
2018 $138,646,316,351 $183,334,953,819
2017 $120,687,539,806 $161,099,122,225
2016 $109,406,674,125 $151,732,181,868
2015 $114,585,555,689 $161,739,955,577
2014 $162,650,450,685 $206,224,598,571
2013 $174,168,116,535 $198,727,642,967
2012 $174,047,662,680 $186,833,502,363
2011 $154,039,231,246 $167,775,274,725
2010 $115,416,245,242 $125,122,252,747
2009 $105,968,691,905 $97,798,351,648
2008 $147,379,737,230 $115,269,780,220
2007 $114,634,043,362 $79,711,813,187
2006 $101,557,330,723 $60,882,142,857
2005 $80,798,630,137 $44,530,494,505
2004 $59,439,090,601 $31,734,065,934
2003 $47,874,582,232 $23,533,791,209
2002 $38,135,788,414 $19,363,736,264
2001 $34,889,559,870 $17,538,461,538
2000 $37,718,743,480 $17,759,890,110
1999 $30,122,365,849 $12,393,131,868
1998 $25,943,705,784 $10,255,494,505
1997 $30,350,190,704 $11,297,802,198
1996 $31,492,373,309 $9,059,340,659
1995 $27,186,980,647 $8,137,912,088
1994 $24,848,483,838 $7,374,450,549
1993 $23,941,391,391 $7,156,593,407
1992 $19,858,555,215 $7,646,153,846
1991 $11,009,993,703 $6,883,516,484
1990 $18,427,777,778 $7,360,439,560
1989 $24,313,855,653 $6,487,912,088
1988 $20,690,322,153 $6,038,186,813
1987 $22,368,704,134 $5,446,428,571
1986 $17,903,989,745 $5,053,021,978
1985 $21,445,970,614 $6,153,296,703
1984 $21,700,082,753 $6,870,329,670
1983 $20,871,081,080 $6,484,890,110
1982 $21,577,153,356 $7,611,263,736
1981 $25,058,020,338 $8,672,527,473
1980 $28,638,868,356 $7,837,915,956
1979 $24,749,063,922 $5,632,962,997
1978 $15,503,557,496 $4,052,000,413
1977 $14,137,406,741 $3,617,564,638
1976 $13,132,252,802 $3,284,273,987
1975 $12,022,811,621 $2,512,773,166
1974 $13,006,948,296 $2,401,403,227
1973 $5,408,804,607 $793,885,560
1972 $4,450,537,925 $510,262,500
1971 $3,880,392,195 $387,703,106
1970 $2,873,638,851 $301,791,302
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 (1962–2025, retrieved 2026-07-08).

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

GDP per capita in Kuwait vs Qatar by year

Kuwait
GDP per capita

GDP per capita, PPP
Qatar
GDP per capita

GDP per capita, PPP
1x
Year Current $
Kuwait Qatar
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $32,312 - $72,525 -
2024 $32,856 $52,444 $75,685 $126,046
2023 $34,092 $53,025 $80,196 $129,368
2022 $39,982 $55,043 $88,701 $122,921
2021 $34,019 $50,652 $71,752 $116,833
2020 $25,236 $41,462 $51,684 $82,149
2019 $31,708 $50,703 $66,841 $107,503
2018 $32,068 $51,371 $71,040 $110,033
2017 $29,048 $46,566 $63,280 $99,358
2016 $27,324 $41,862 $61,254 $89,935
2015 $29,882 $45,267 $68,985 $102,546
2014 $44,369 $68,337 $95,841 $148,389
2013 $49,651 $76,813 $103,697 $169,203
2012 $52,155 $82,090 $108,470 $180,939
2011 $49,170 $79,037 $103,262 $174,620
2010 $39,212 $75,184 $77,387 $151,646
2009 $37,907 $80,110 $60,786 $125,898
2008 $55,585 $90,337 $80,781 $126,015
2007 $45,709 $91,435 $65,954 $124,056
2006 $42,947 $89,075 $62,582 $127,181
2005 $36,123 $84,968 $53,950 $115,250
2004 $27,552 $77,227 $41,036 $110,958
2003 $22,691 $69,752 $31,602 $94,120
2002 $18,513 $59,713 $27,227 $93,177
2001 $17,374 $58,553 $25,871 $89,805
2000 $19,296 $58,703 $27,535 $88,849
1999 $15,854 $56,406 $20,234 $84,690
1998 $14,067 $58,344 $17,665 $84,486
1997 $16,977 $57,420 $20,523 $79,219
1996 $18,201 $56,913 $17,125 $62,331
1995 $16,168 $57,163 $15,823 $60,321
1994 $14,930 $53,946 $14,765 $59,415
1993 $14,318 $48,482 $14,770 $59,125
1992 $12,146 $36,149 $16,280 $60,387
1991 $8,147 $23,390 $15,133 $54,759
1990 $10,938 $30,763 $16,722 $55,659
1989 $10,965 - $15,243 -
1988 $9,692 - $14,682 -
1987 $10,896 - $13,719 -
1986 $9,077 - $13,213 -
1985 $11,322 - $16,815 -
1984 $11,919 - $19,749 -
1983 $11,965 - $19,669 -
1982 $12,979 - $24,431 -
1981 $15,825 - $29,543 -
1980 $19,032 - $28,407 -
1979 $17,386 - $21,777 -
1978 $11,567 - $16,757 -
1977 $11,238 - $16,058 -
1976 $11,141 - $15,710 -
1975 $10,882 - $13,014 -
1974 $12,527 - $13,540 -
1973 $5,532 - $4,905 -
1972 $4,836 - $3,483 -
1971 $4,486 - $2,952 -
1970 $3,552 - $2,594 -
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 (1962–2025, retrieved 2026-07-08).

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

Kuwait's GDP per capita is $32,312, ranking 41/197, compared to $72,525 in Qatar, ranking 13/197. Adjusted for purchasing power (GDP per capita PPP), Kuwait ranks 40th at $52,444, while Qatar ranks 5th at $126,046.

Economic indicators

Kuwait Qatar
Gross domestic product
$157B
2025
$216B
2025
GDP rank
59/197
2025
56/197
2025
GDP growth
2.73%
2024-2025
2.9%
2024-2025
GDP per capita
$32,312
2025
$72,525
2025
GDP per capita rank
41/197
2025
13/197
2025
GDP per capita, PPP
$52,444
2024
$126,046
2024
GDP per capita PPP rank
40/197
2024
5/197
2024
Government debt
$22.9B
2025
$89.2B
2025
Debt-to-GDP ratio
14.6%
2025
41.4%
2025
Government debt per person
$4,714
2025
$30,009
2025
Government debt per person rank
87/185
2025
24/185
2025
Average annual personal income after taxes
$24,940
2026
$37,042
2026
Market capitalization of domestic companies
$172B
2025
$177B
2025
Number of millionaires n/a
30,000
2026
Number of billionaires n/a
2
2026
Income share by richest 10% n/a
25.8%
2017
Income share by poorest 10% n/a
2.6%
2017
Government expenditure, % of GDP
50.1%
2025
27.1%
2025
Consumer prices inflation
2.36%
2024-2025
0.6%
2024-2025
Central bank interest rate
3.5%
2025
4.1%
2025
Unemployment rate
2.16%
2016
0.1%
2024
Population
4981316
3058826

Spending and national debt comparison by year

Kuwait
Spending

Debt
Qatar
Spending

Debt
1x
Year % of GDP
Kuwait Qatar
Government spending Government debt Government spending Government debt
2025 50.1% 14.6% 27.1% 41.4%
2024 48% 2.91% 26% 41.3%
2023 48.3% 3.13% 26.7% 42.8%
2022 39.6% 2.95% 24.3% 42.6%
2021 48.3% 7.2% 29.4% 58.4%
2020 62.9% 10.2% 34.7% 72.6%
2019 50.2% 10.5% 32.5% 62.1%
2018 51% 14.3% 28.9% 52.2%
2017 51.9% 19.6% 34.7% 51.6%
2016 54% 9.88% 40.1% 46.7%
2015 55.3% 4.6% 38.6% 35.5%
2014 45% 3.43% 32.3% 24.9%
2013 38.4% 3.09% 28.3% 30.9%
2012 38.1% 3.6% 31% 32.1%
2011 39.6% 4.64% 28.5% 33.5%
2010 45.4% 6.16% 32% 30.4%
2009 42.8% 6.65% 36.4% 36%
2008 40.8% 5.38% 23.5% 11.4%
2007 30.4% 7.05% 29.5% 9.37%
2006 32.2% 7.79% 29.5% 13.9%
2005 28.7% 10.2% 29% 19.1%
2004 35.2% 13.9% 29.9% 30.1%
2003 38% 17.2% 28.5% 38.8%
2002 42.5% 21.3% 31.6% 47.7%
2001 41.2% 23% 32.1% 59.2%
2000 29.7% 21.4% 29.8% 51.6%
1999 44.3% 25.5% 42.4% 81.8%
1998 51.4% 25.6% 55.1% 76.6%
1997 43.5% 24.3% 47.6% 54.4%
1996 42.5% 26.5% 55.2% 57.8%
1995 51.7% 34.9% 52.2% 50.2%
1994 57.5% 37.7% 59.8% 54.8%
1993 58% 28.8% 62.8% 46.3%
1992 77.4% 27.9% 54.2% 19.9%
1991 208.1% 45.3% 57.5% 21.8%
1990 122.4% - 50% 12.6%

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

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

In 2025, Kuwait's government spending was $78.8B, accounting for 50.1% of its GDP, while Qatar spent $58.4B, or 27.1% of GDP.

Debt-to-GDP ratio is 14.6% in Kuwait and 41.4% in Qatar, ranking 177/185 and 127/185, respectively.

Government deficit by year

Deficit/surplus
Kuwait

Qatar
1x
Year Deficit/surplus, % of GDP
Kuwait Qatar
2025 28.4% -1%
2024 26% 0.71%
2023 28.2% 5.51%
2022 30% 10.4%
2021 9.99% 0.24%
2020 0.16% -2.13%
2019 13% 1%
2018 17.6% 2.26%
2017 15.3% -6.82%
2016 12.8% -9.2%
2015 16.3% 18.4%
2014 29.8% 13.4%
2013 40.4% 19.3%
2012 40.5% 8.55%
2011 38.6% 5.24%
2010 31.7% 4.6%
2009 31.1% 14.1%
2008 21.2% 9.49%
2007 36.9% 10.3%
2006 27.8% 8.39%
2005 38.8% 9.8%
2004 32.3% 17.7%
2003 27% 6.71%
2002 30.9% 7.89%
2001 44.9% 4.48%
2000 52.3% 4.62%
1999 28% -4.35%
1998 19.4% -7%
1997 29.4% -9.4%
1996 24.2% -8.73%
1995 11.7% -5.78%
1994 1.71% -11.8%
1993 -3.2% -9.53%
1992 -28% -2.74%
1991 -144.5% -2.57%
1990 -49.9% 3.23%

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

GeoRank.org/economy/kuwait/qatar | 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 Qatar's deficit of $2.16B, or 1% of GDP.

Over the past 36 years, Kuwait recorded a fiscal deficit in 4 of those years, while Qatar ran a deficit in 13 years. On average, Kuwait posted an annual surplus equal to 17% of GDP, compared to surplus of 2.92% of GDP for Qatar.

Inflation comparison by year

Inflation
Kuwait

Qatar
1x
Year Consumer prices inflation
Kuwait Qatar
2025 2.36% 0.6%
2024 2.9% 1.2%
2023 3.64% 3.1%
2022 3.98% 5%
2021 3.42% 2.3%
2020 2.1% -2.5%
2019 1.09% -0.9%
2018 0.54% 0.1%
2017 2.17% 0.6%
2016 3.2% 2.7%
2015 3.27% 0.9%
2014 2.91% 4.2%
2013 2.68% 3.1%
2012 3.26% 1.8%
2011 4.84% 2%
2010 4.5% -2.4%
2009 4.61% -4.9%
2008 10.6% 15.1%
2007 5.48% 13.7%
2006 3.06% 11.7%
2005 4.14% 9%
2004 1.25% 6.8%
2003 0.96% 2.3%
2002 0.89% 0.2%
2001 1.3% 1.7%
2000 1.81% 1.6%
1999 2.99% 2.2%
1998 0.13% 2.9%
1997 0.68% 2.7%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Kuwait has recorded an average annual inflation rate of 2.92%, compared with 2.99% in Qatar. In 2025, inflation was 2.36% in Kuwait and 0.6% in Qatar.

Top exports between countries

Kuwait
Export category Export value
Machinery & equipment $62.1M
Chemicals & pharma $46M
Processed food, beverages & tobacco $33.1M
Textiles & consumer goods $26.9M
Metals $15.2M
Raw materials & minerals $8.59M
Raw agricultural goods $6.62M
Wood & paper products $5.65M
Animal & marine products $4.94M
Miscellaneous $2.12M
Qatar
Export category Export value
Raw materials & minerals $2B
Machinery & equipment $145M
Metals $72.5M
Chemicals & pharma $24.6M
Weapons & explosives $4.24M
Textiles & consumer goods $2.78M
Precious metals & jewellery $1.64M
Processed food, beverages & tobacco $1.44M
Animal & marine products $1.43M
Raw agricultural goods $1.38M

Balance of trade

Kuwait Qatar
Current account balance
$35.7B
2025
$31.9B
2025
Current account balance ranking
16/190
2025
17/190
2025
Current account balance, % of GDP
+22.7%
2025
+14.8%
2025
Goods imports
$37.5B
2025
$34.3B
2025
Goods exports
$70.7B
2025
$90B
2025
Service imports
$29.6B
2025
$31.3B
2025
Service exports
$12.7B
2025
$24.4B
2025
Imports of goods and services, % of GDP
38.2%
2024
31.6%
2022
Exports of goods and services, % of GDP
55.8%
2024
68.6%
2022

Economic freedom indices

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

Kuwait Qatar
Economic freedom 59.9 70.2
Economic freedom ranking 100/197 37/197
Property rights 42 66.2
Government integrity 47.9 53.5
Judicial effectiveness 43.4 41.5
Tax burden 97.7 99.9
Government spending 36.2 79.9
Fiscal health 99.9 96.6
Business freedom 57.4 68
Labor freedom 49.2 58.5
Monetary freedom 68.7 76
Trade freedom 75.8 81.8
Investment freedom 50 60
Financial freedom 50 60

Economic freedom comparison by year

Kuwait
Qatar
1x
Year Economic freedom index
Kuwait Qatar
2026 59.9 70.2
2025 59.9 70.2
2024 58.5 68.8
2023 56.7 68.6
2022 58.3 67.7
2021 64.1 72
2020 63.2 72.3
2019 60.8 72.6
2018 62.2 72.6
2017 65.1 73.1
2016 62.7 70.7
2015 62.5 70.8
2014 62.3 71.2
2013 63.1 71.3
2012 62.5 71.3
2011 64.9 70.5
2010 67.7 69
2009 65.6 65.8
2008 68.1 62.2
2007 66.4 62.9
2006 66.5 62.4
2005 64.6 63.5
2004 63.6 66.5
2003 66.7 65.9
2002 65.4 61.9
2001 68.2 60
2000 69.7 62
1999 69.5 62
1998 66.3 -
1997 64.8 -
1996 66.1 -

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

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

The Economic Freedom Index for Kuwait is 59.9, ranking 100/197, compared to 70.2 for Qatar, ranking 37/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Kuwait Qatar
Services, % of GDP
59.6%
2025
47%
2025
Industry, % of GDP
54.1%
2025
57%
2025
Agriculture, forestry, and fishing, % of GDP
0.53%
2025
0.31%
2025
GNI, Atlas method
$201B
2024
$221B
2025
GNI per capita, PPP
$64,040
2024
$126,290
2025
Total reserves including gold
$51.7B
2025
$55.8B
2025
Total reserves ranking
47/177
2025
45/177
2025
Net foreign direct investment
$2.58B
2025
$311M
2025
Net inflows of foreign direct investment
$615M
2024
$460M
2024
Net outflows of foreign direct investment
$10.3B
2024
$1.56B
2024
Gross capital formation, % of GDP
15.1%
2024
30.6%
2022

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/qatar | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1962–2025, 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 (2024, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. 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.

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.