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

StatKuwaitSouth Korea
GDP$140.6B$1.6T
GDP growth, 1 year1.7%2.7%
GDP growth, 5-years average0.5%3%
Population4.6M51.5M
GDP per capita$34k$31k
GDP per capita growth-0.74%2.33%
Purchasing Power Parity conversion factor0.14860.51
Price level ratio of PPP conversion factor GDP to market exchange rate0.470.78
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

StatKuwaitSouth Korea
Income Tax Rate0%42%
Corporate Tax Rate15%25%
Inflation, consumer prices0.7%1.5%
Inflation, GDP deflator14.6%0.3%
Unemployment2.1%3.8%
Economic Freedom Index63.274
Personal Freedom Index6.248.84
Human Freedom Index6.68.15
Property Rights Index57.182.5
Judical Effectiveness Index4761
Business Freedom Index61.390.5
Fiscal Health Index99.696.7
Labor Freedom Index62.256.2
Investment Freedom Index5570
Financial Freedom Index6070
Trade Freedom Index76.480
Monetary Freedom Index73.282.1
Government Spending Index22.467.7
Tax Burden Index97.763.9
Government Integrity Index4667.5
Corruption Perceptions Index4157
Life expectancy at birth, years75.382.6
Suicide mortality rate, per 100,000 people2.326.9
Mortality caused by road traffic injury, per 100,000 people17.69.8
Intentional homicides, per 100,000 people1.80.6
International tourism, number of arrivals8.5M15.3M

Government debt & reserves

StatKuwaitSouth Korea
Central government debt, % of GDP14.8%40.7%
External debt stocks, % of GNIN/AN/A
External debt stocksN/AN/A
Short-term debt, % of total reservesN/AN/A
Total debt service, % of exports and primary incomeN/AN/A
Adjusted net savings including particulate emission damage, % of GNI14.6%20.1%
Gross savings, % of GDP43.2%34.7%
Gross capital formation, % of GDP25.2%30.2%
Total reserves including gold$40.3B$403.1B
Foreign direct investment net inflows-$21.4M$14.5B

Exports, imports and economic structure

StatKuwaitSouth Korea
Exports of goods and services, % of GDP56.7%44%
Imports of goods and services, % of GDP43.8%39%
Current account balance (balance of payments)$24B$76.4B
Revenue excluding grants, % of GDP38.6%27.8%
Grants excluding technical cooperation, BoP$1.6M$6.7M
Personal remittances received$27.7M$7.1B
Industry including construction value added, % of GDP59.6%35.1%
Agriculture, forestry and fishing value added, % of GDP0.4%2%
Charges for the use of intellectual property, payments BoPN/A$9.9B
Charges for the use of intellectual property, receipts BoPN/A$7.8B
Expense, % of GDP52%25.4%
Government Expenditure, % of GDP50.9%32.8%

Compare with countries close by GDP per capita

Kuwait vs

CountryGDP
per capita
Population
Netherlands
$53k
17.3M
Austria
$51k
8.81M
Finland
$50k
5.5M
San Marino
$48k
33.4k
Germany
$48k
83.1M
Belgium
$48k
11.4M
Canada
$46k
37.9M
United Arab Emirates
$43k
9.4M
United Kingdom
$43k
66M
Andorra
$42k
76.2k
New Zealand
$42k
4.94M
Israel
$42k
9.09M
France
$41k
66.6M
Japan
$39k
127M
Italy
$34k
60.3M
Bahamas
$32k
395k
Brunei
$32k
429k
Spain
$30k
46.7M
Malta
$30k
465k
Cyprus
$28k
1.14M
Slovenia
$26k
2.07M
Taiwan
$25k
23.6M
Bahrain
$24k
1.49M
Portugal
$23k
10.6M
Saudi Arabia
$23k
33M
Estonia
$23k
1.32M
Czech Republic
$23k
10.7M
Vatican City
$21k
1k
Greece
$20k
10.8M
Curacao
$20k
160k

South Korea vs

CountryGDP
per capita
Population
San Marino
$48k
33.4k
Germany
$48k
83.1M
Belgium
$48k
11.4M
Canada
$46k
37.9M
United Arab Emirates
$43k
9.4M
United Kingdom
$43k
66M
Andorra
$42k
76.2k
New Zealand
$42k
4.94M
Israel
$42k
9.09M
France
$41k
66.6M
Japan
$39k
127M
Italy
$34k
60.3M
Bahamas
$32k
395k
Brunei
$32k
429k
Spain
$30k
46.7M
Malta
$30k
465k
Cyprus
$28k
1.14M
Slovenia
$26k
2.07M
Taiwan
$25k
23.6M
Bahrain
$24k
1.49M
Portugal
$23k
10.6M
Saudi Arabia
$23k
33M
Estonia
$23k
1.32M
Czech Republic
$23k
10.7M
Vatican City
$21k
1k
Greece
$20k
10.8M
Curacao
$20k
160k
Slovakia
$19k
5.4M
Saint Kitts and Nevis
$19k
55.3k
Lithuania
$19k
2.79M