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Economy of Kuwait vs Romania compared: GDP & Debt

Updated on by Georank team

Kuwait has a GDP of $160B compared to $383B for Romania, ranking 59/197 and 42/197 by economy size, respectively.

Kuwait has $4.68B in government debt (2.92% of GDP), compared to $220B (57.4% of GDP) in Romania.

Kuwait vs Romania GDP by year

Kuwait
Romania
1x
Year GDP, current $
Kuwait Romania
2024 $160,227,273,053 $382,564,217,989
2023 $165,384,407,116 $347,757,995,759
2022 $183,502,046,694 $295,319,437,557
2021 $148,350,671,489 $285,071,280,114
2020 $111,045,470,606 $250,625,048,304
2019 $140,856,394,861 $250,080,428,512
2018 $138,646,316,351 $241,791,427,224
2017 $120,687,539,806 $210,147,385,855
2016 $109,406,674,125 $185,290,759,249
2015 $114,585,555,689 $177,885,131,240
2014 $162,650,450,685 $199,722,319,676
2013 $174,168,116,535 $189,798,603,751
2012 $174,047,662,680 $179,117,323,107
2011 $154,039,231,246 $192,623,977,894
2010 $115,416,245,242 $170,064,350,672
2009 $105,968,691,905 $174,110,532,659
2008 $147,379,737,230 $214,315,932,061
2007 $114,634,043,362 $174,588,782,939
2006 $101,557,330,723 $122,023,735,993
2005 $80,798,630,137 $98,454,380,120
2004 $59,439,090,601 $74,973,656,852
2003 $47,874,582,232 $57,806,384,143
2002 $38,135,788,414 $46,065,502,703
2001 $34,889,559,870 $40,395,116,581
2000 $37,718,743,480 $37,253,739,511
1999 $30,122,365,849 $35,953,156,754
1998 $25,943,705,784 $41,696,091,974
1997 $30,350,190,704 $35,575,214,078
1996 $31,492,373,309 $36,937,074,278
1995 $27,186,980,647 $37,430,162,103
1994 $24,848,483,838 $30,072,805,104
1993 $23,941,391,391 $26,361,160,450
1992 $19,858,555,215 $25,121,666,667
1991 $11,009,993,703 $28,850,634,900
1990 $18,427,777,778 $38,247,882,300
1989 $24,313,855,653 $41,450,777,202
1988 $20,690,322,153 $40,424,528,302
1987 $22,368,704,134 $38,067,567,568
1986 $17,903,989,745 -
1985 $21,445,970,614 -
1984 $21,700,082,753 -
1983 $20,871,081,080 -
1982 $21,577,153,356 -
1981 $25,058,020,338 -
1980 $28,638,868,356 -
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/romania | CC BY

GDP per capita in Kuwait vs Romania by year

Kuwait
GDP per capita

GDP per capita, PPP
Romania
GDP per capita

GDP per capita, PPP
1x
Year Current $
Kuwait Romania
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $32,718 $52,444 $20,080 $49,077
2023 $34,076 $53,025 $18,244 $45,982
2022 $39,982 $55,043 $15,504 $41,979
2021 $34,019 $50,652 $14,908 $37,534
2020 $25,236 $41,462 $13,009 $34,194
2019 $31,708 $50,703 $12,910 $33,425
2018 $32,068 $51,371 $12,416 $29,383
2017 $29,048 $46,566 $10,728 $26,943
2016 $27,324 $41,862 $9,405 $23,905
2015 $29,882 $45,267 $8,977 $21,625
2014 $44,369 $68,337 $10,032 $20,633
2013 $49,651 $76,813 $9,498 $19,678
2012 $52,155 $82,090 $8,930 $19,808
2011 $49,170 $79,037 $9,561 $18,804
2010 $39,212 $75,184 $8,400 $17,355
2009 $37,907 $80,110 $8,548 $16,641
2008 $55,585 $90,337 $10,435 $16,782
2007 $45,709 $91,435 $8,360 $13,703
2006 $42,947 $89,075 $5,758 $11,554
2005 $36,123 $84,968 $4,618 $9,602
2004 $27,552 $77,227 $3,495 $8,989
2003 $22,691 $69,752 $2,679 $7,559
2002 $18,513 $59,713 $2,120 $7,162
2001 $17,374 $58,553 $1,825 $6,520
2000 $19,296 $58,703 $1,660 $5,850
1999 $15,854 $56,406 $1,600 $5,596
1998 $14,067 $58,344 $1,853 $5,545
1997 $16,977 $57,420 $1,577 $5,564
1996 $18,201 $56,913 $1,633 $5,746
1995 $16,168 $57,163 $1,650 $5,429
1994 $14,930 $53,946 $1,323 $4,995
1993 $14,318 $48,482 $1,158 $4,699
1992 $12,146 $36,149 $1,102 $4,515
1991 $8,147 $23,390 $1,254 $4,795
1990 $10,938 $30,763 $1,648 $5,280
1989 $10,965 - $1,790 -
1988 $9,692 - $1,753 -
1987 $10,896 - $1,659 -
1986 $9,077 - - -
1985 $11,322 - - -
1984 $11,919 - - -
1983 $11,965 - - -
1982 $12,979 - - -
1981 $15,825 - - -
1980 $19,032 - - -
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/romania | CC BY

Kuwait's GDP per capita is $32,718, ranking 37/197, compared to $20,080 in Romania, ranking 58/197. Adjusted for purchasing power (GDP per capita PPP), Kuwait ranks 40th at $52,444, while Romania ranks 47th at $49,077.

Economic indicators

Kuwait Romania
Gross domestic product
$160B
2024
$383B
2024
GDP rank
59/197
2024
42/197
2024
GDP growth
-2.56%
2023-2024
0.92%
2023-2024
GDP per capita
$32,718
2024
$20,080
2024
GDP per capita rank
37/197
2024
58/197
2024
GDP per capita, PPP
$52,444
2024
$49,077
2024
GDP per capita PPP rank
40/197
2024
47/197
2024
Government debt
$4.68B
2024
$220B
2024
Debt-to-GDP ratio
2.92%
2024
57.4%
2024
Government debt per person
$956
2024
$11,533
2024
Government debt per person rank
143/185
2024
48/185
2024
Average annual personal income after taxes
$23,828
2026
$13,912
2026
Market capitalization of domestic companies
$141B
2024
$47.4B
2024
Number of billionaires n/a
6
2025
Income share by richest 10% n/a
21.8%
2023
Income share by poorest 10% n/a
2.4%
2023
Government expenditure, % of GDP
50.4%
2024
39.9%
2024
Consumer prices inflation
2.9%
2023-2024
5.6%
2023-2024
Central bank interest rate
3.5%
2025
6.5%
2024
Unemployment rate
2.16%
2016
5.43%
2024
Population
5100145
18839108

Spending and national debt comparison by year

Kuwait
Spending

Debt
Romania
Spending

Debt
1x
Year % of GDP
Kuwait Romania
Government spending Government debt Government spending Government debt
2024 50.4% 2.92% 39.9% 57.4%
2023 48.3% 3.13% 36.6% 52.1%
2022 39.6% 2.95% 37.4% 51.7%
2021 48.3% 7.2% 37% 51.5%
2020 62.9% 10.2% 38.1% 49.3%
2019 50.3% 10.5% 33.2% 36.5%
2018 51.1% 14.3% 31.7% 36.2%
2017 51.9% 19.6% 31% 37.1%
2016 54.1% 9.88% 31.8% 39.5%
2015 55.4% 4.6% 34.2% 39.4%
2014 45% 3.43% 33.8% 40.5%
2013 38.4% 3.09% 34.2% 39.3%
2012 38.2% 3.6% 33.5% 36.2%
2011 39.7% 4.64% 35% 32.6%
2010 45.5% 6.16% 37.4% 30.2%
2009 42.9% 6.65% 36.3% 22.5%
2008 40.9% 5.38% 35.3% 13%
2007 30.4% 7.05% 34.6% 12.4%
2006 32.3% 7.79% 33.9% 12.7%
2005 28.8% 10.2% 32.3% 17.8%
2004 35.3% 13.9% 33.7% 21.3%
2003 38.2% 17.2% 31.8% 24.9%
2002 42.8% 21.3% 32.1% 27.4%
2001 41.4% 23% 33.2% 27.4%
2000 29.9% 21.4% 35% 29.6%
1999 44.5% 25.5% 35.1% 21.7%
1998 51.7% 25.6% 34.7% 16.5%
1997 43.8% 24.3% 33.5% 15%
1996 42.8% 26.5% 33.5% 11%
1995 52% 34.9% 34.4% 6.91%
1994 57.8% 37.7% 33.1% -
1993 58.2% 28.8% 33.5% -
1992 77.6% 27.9% 41.5% -
1991 208.9% 45.3% 38.3% -
1990 122.9% - 38.4% -
1989 - - 40.1% -
1988 - - 36.6% -
1987 - - 40.7% -
1986 - - 42.5% -
1985 - - 41.6% -
1984 - - 28.6% -
1983 - - 25.8% -
1982 - - 28.5% -
1981 - - 30.4% -
1980 - - 33.6% -
1979 - - 42% -
1978 - - 42.1% -
1977 - - 39.9% -
1976 - - 37.5% -
1975 - - 40.6% -
1974 - - 37.6% -
1973 - - 32.6% -
1972 - - 29.9% -
1971 - - 27.2% -
1970 - - 28.1% -
1969 - - 32.1% -
1968 - - 31.8% -
1967 - - 30.6% -
1966 - - 27.3% -
1965 - - 25.6% -
1964 - - 25.1% -
1963 - - 23.1% -
1962 - - 43.4% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1999, retrieved 2026-02-20).

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

In 2024, Kuwait's government spending was $80.8B, accounting for 50.4% of its GDP, while Romania spent $153B, or 39.9% of GDP.

Debt-to-GDP ratio is 2.92% in Kuwait and 57.4% in Romania, ranking 184/185 and 87/185, respectively.

Government deficit by year

Deficit/surplus
Kuwait

Romania
1x
Year Deficit/surplus, % of GDP
Kuwait Romania
2024 23.8% -8.68%
2023 28.2% -5.61%
2022 30% -5.83%
2021 9.98% -6.7%
2020 0.14% -9.54%
2019 13% -4.55%
2018 17.5% -2.74%
2017 15.3% -2.86%
2016 13.1% -2.5%
2015 16.6% -1.35%
2014 30% -1.76%
2013 40.6% -2.44%
2012 40.7% -2.39%
2011 38.8% -4.14%
2010 31.9% -6.22%
2009 31.3% -6.86%
2008 21.3% -4.6%
2007 37.1% -3.05%
2006 28% -1.36%
2005 38.9% -0.69%
2004 32.5% -3.39%
2003 27.2% -2.29%
2002 31% -2.59%
2001 45.2% -3.2%
2000 52.5% -3.99%
1999 28.2% -3.58%
1998 19.5% -5.33%
1997 29.5% -5.19%
1996 24.3% -4.74%
1995 11.7% -3.32%
1994 1.76% -2.2%
1993 -3.12% -0.35%
1992 -28.1% -4.55%
1991 -145% 3.23%
1990 -50% 1.03%
1989 - -2.87%
1988 - 8.4%
1987 - 2.37%
1986 - 5.72%
1985 - 6.36%
1984 - 15.2%
1983 - 9.35%
1982 - 0.36%
1981 - 0.61%
1980 - -1.95%
1979 - 0%
1978 - 0%
1977 - 0.23%
1976 - 0.66%
1975 - 0.41%
1974 - 0.51%
1973 - 1.53%
1972 - 1.21%
1971 - 0.89%
1970 - 0.52%
1969 - 0.93%
1968 - 1.65%
1967 - 1.23%
1966 - 0.91%
1965 - -1.29%
1964 - -3.11%
1963 - -1.61%
1962 - -4.86%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-02-20).

GeoRank.org/economy/kuwait/romania | 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 Romania's deficit of $33.2B, or 8.68% of GDP.

Over the past 35 years, Kuwait recorded a fiscal deficit in 4 of those years, while Romania ran a deficit in 33 years. On average, Kuwait posted an annual surplus equal to 16.7% of GDP, compared to deficit of 3.55% of GDP for Romania.

Inflation comparison by year

Inflation
Kuwait

Romania
1x
Year Consumer prices inflation
Kuwait Romania
2024 2.9% 5.6%
2023 3.64% 10.4%
2022 3.98% 13.8%
2021 3.42% 5%
2020 2.1% 2.6%
2019 1.09% 3.8%
2018 0.54% 4.6%
2017 2.17% 1.3%
2016 3.2% -1.6%
2015 3.27% -0.6%
2014 2.91% 1.1%
2013 2.68% 4%
2012 3.26% 3.3%
2011 4.84% 5.8%
2010 4.5% 6.1%
2009 4.61% 5.6%
2008 10.6% 7.8%
2007 5.48% 4.8%
2006 3.06% 6.6%
2005 4.14% 9%
2004 1.25% 11.9%
2003 0.96% 15.4%
2002 0.89% 22.5%
2001 1.3% 34.5%
2000 1.81% 45.7%
1999 2.99% 45.8%
1998 0.13% 59.1%
1997 0.68% 154.8%

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/romania | CC BY

Over the past 28 years, Kuwait has recorded an average annual inflation rate of 2.94%, compared with 17.5% in Romania. In 2024, inflation was 2.9% in Kuwait and 5.6% in Romania.

Top exports between countries

Kuwait
Export category Export value
Textiles & consumer goods $568K
Raw agricultural goods $136K
Machinery & equipment $68K
Miscellaneous $37K
Wood & paper products $37K
Raw materials & minerals $16K
Metals $9K
Processed food, beverages & tobacco $5K
Chemicals & pharma $4K
Romania
Export category Export value
Raw agricultural goods $31.4M
Wood & paper products $14.8M
Machinery & equipment $12.1M
Animal & marine products $6.28M
Metals $4.86M
Textiles & consumer goods $3.4M
Processed food, beverages & tobacco $1.31M
Raw materials & minerals $1.21M
Chemicals & pharma $1.07M
Miscellaneous $142K

Balance of trade

Kuwait Romania
Current account balance
$46.7B
2024
-$31.2B
2024
Current account balance ranking
15/190
2024
185/190
2024
Current account balance, % of GDP
+29.1%
2024
-8.16%
2024
Goods imports
$33.4B
2024
$129B
2024
Goods exports
$77.5B
2024
$93.3B
2024
Service imports
$28.1B
2024
$30.2B
2024
Service exports
$12.2B
2024
$42.9B
2024
Imports of goods and services, % of GDP
38.3%
2023
41.6%
2024
Exports of goods and services, % of GDP
57.7%
2023
35.6%
2024

Economic freedom indices

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

Kuwait Romania
Economic freedom 59.9 65.4
Economic freedom ranking 100/197 64/197
Property rights 42 81
Government integrity 47.9 50
Judicial effectiveness 43.4 67
Tax burden 97.7 89.1
Government spending 36.2 56.7
Fiscal health 99.9 21.4
Business freedom 57.4 74.4
Labor freedom 49.2 63.6
Monetary freedom 68.7 72.7
Trade freedom 75.8 79.4
Investment freedom 50 70
Financial freedom 50 60

Economic freedom comparison by year

Kuwait
Romania
1x
Year Economic freedom index
Kuwait Romania
2026 59.9 65.4
2025 59.9 66.5
2024 58.5 64.4
2023 56.7 64.5
2022 58.3 67.1
2021 64.1 69.5
2020 63.2 69.7
2019 60.8 68.6
2018 62.2 69.4
2017 65.1 69.7
2016 62.7 65.6
2015 62.5 66.6
2014 62.3 65.5
2013 63.1 65.1
2012 62.5 64.4
2011 64.9 64.7
2010 67.7 64.2
2009 65.6 63.2
2008 68.1 61.7
2007 66.4 61.2
2006 66.5 58.2
2005 64.6 52.1
2004 63.6 50
2003 66.7 50.6
2002 65.4 48.7
2001 68.2 50
2000 69.7 52.1
1999 69.5 50.1
1998 66.3 54.4
1997 64.8 50.8
1996 66.1 46.2
1995 - 42.9

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

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

The Economic Freedom Index for Kuwait is 59.9, ranking 100/197, compared to 65.4 for Romania, ranking 64/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Kuwait Romania
Services, % of GDP
55.9%
2024
62.6%
2024
Industry, % of GDP
57.1%
2024
25.3%
2024
Agriculture, forestry, and fishing, % of GDP
0.49%
2024
2.81%
2024
GNI, Atlas method
$200B
2024
$335B
2024
GNI per capita, PPP
$63,270
2024
$47,920
2024
Total reserves including gold
$50.7B
2024
$73.4B
2024
Total reserves ranking
41/177
2024
35/177
2024
Net foreign direct investment
$9.71B
2024
-$5.17B
2024
Net inflows of foreign direct investment
$615M
2024
$7.16B
2024
Net outflows of foreign direct investment
$10.3B
2024
$1.99B
2024
Poverty at national poverty lines n/a
19%
2023
Gross capital formation, % of GDP
17.7%
2023
25%
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/romania | 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. International Monetary Fund (IMF) | Public Finances in Modern History (1962–1999, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2020–2024, retrieved 2026-02-08)
  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.