Kuwait vs South Korea: Economic Indicators Comparison
South Korea with a GDP of $1.6T ranked the 12th largest economy in the world, while Kuwait ranked 58th with $140.6B. By GDP 5-years average growth and GDP per capita, South Korea and Kuwait ranked 93rd vs 163rd and 33rd vs 30th, respectively.
Gross Domestic Product & Income
| Stat |  Kuwait |  South Korea |
|---|---|---|
| GDP | $140.6B | $1.6T |
| GDP growth, 1 year | 1.7% | 2.7% |
| GDP growth, 5-years average | 0.5% | 3% |
| Population | 4.6M | 51.5M |
| GDP per capita | $34k | $31k |
| GDP per capita growth | -0.74% | 2.33% |
| Purchasing Power Parity conversion factor | 0.14 | 860.51 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.47 | 0.78 |
| GDP per capita, PPP adjusted | $67k | $41k |
| GNI, Atlas method | $141.9B | $1.6T |
| GNI per capita | $34k | $31k |
| GNI, PPP adjusted | $348.6B | $2.1T |
| GNI per capita, PPP adjusted | $84k | $40k |
Financial system and Human development
| Stat | Kuwait | South Korea |
|---|---|---|
| Income Tax Rate | 0% | 42% |
| Corporate Tax Rate | 15% | 25% |
| Inflation, consumer prices | 0.7% | 1.5% |
| Inflation, GDP deflator | 14.6% | 0.3% |
| Unemployment | 2.1% | 3.8% |
| Economic Freedom Index | 63.2 | 74 |
| Personal Freedom Index | 6.24 | 8.84 |
| Human Freedom Index | 6.6 | 8.15 |
| Property Rights Index | 57.1 | 82.5 |
| Judical Effectiveness Index | 47 | 61 |
| Business Freedom Index | 61.3 | 90.5 |
| Fiscal Health Index | 99.6 | 96.7 |
| Labor Freedom Index | 62.2 | 56.2 |
| Investment Freedom Index | 55 | 70 |
| Financial Freedom Index | 60 | 70 |
| Trade Freedom Index | 76.4 | 80 |
| Monetary Freedom Index | 73.2 | 82.1 |
| Government Spending Index | 22.4 | 67.7 |
| Tax Burden Index | 97.7 | 63.9 |
| Government Integrity Index | 46 | 67.5 |
| Corruption Perceptions Index | 41 | 57 |
| Life expectancy at birth, years | 75.3 | 82.6 |
| Suicide mortality rate, per 100,000 people | 2.3 | 26.9 |
| Mortality caused by road traffic injury, per 100,000 people | 17.6 | 9.8 |
| Intentional homicides, per 100,000 people | 1.8 | 0.6 |
| International tourism, number of arrivals | 8.5M | 15.3M |
Government debt & reserves
| Stat | Kuwait | South Korea |
|---|---|---|
| Central government debt, % of GDP | 14.8% | 40.7% |
| External debt stocks, % of GNI | N/A | N/A |
| External debt stocks | N/A | N/A |
| Short-term debt, % of total reserves | N/A | N/A |
| Total debt service, % of exports and primary income | N/A | N/A |
| Adjusted net savings including particulate emission damage, % of GNI | 14.6% | 20.1% |
| Gross savings, % of GDP | 43.2% | 34.7% |
| Gross capital formation, % of GDP | 25.2% | 30.2% |
| Total reserves including gold | $40.3B | $403.1B |
| Foreign direct investment net inflows | -$21.4M | $14.5B |
Exports, imports and economic structure
| Stat | Kuwait | South Korea |
|---|---|---|
| Exports of goods and services, % of GDP | 56.7% | 44% |
| Imports of goods and services, % of GDP | 43.8% | 39% |
| Current account balance (balance of payments) | $24B | $76.4B |
| Revenue excluding grants, % of GDP | 38.6% | 27.8% |
| Grants excluding technical cooperation, BoP | $1.6M | $6.7M |
| Personal remittances received | $27.7M | $7.1B |
| Industry including construction value added, % of GDP | 59.6% | 35.1% |
| Agriculture, forestry and fishing value added, % of GDP | 0.4% | 2% |
| Charges for the use of intellectual property, payments BoP | N/A | $9.9B |
| Charges for the use of intellectual property, receipts BoP | N/A | $7.8B |
| Expense, % of GDP | 52% | 25.4% |
| Government Expenditure, % of GDP | 50.9% | 32.8% |
