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Economy of Kuwait vs Sri Lanka compared: GDP & Debt

Updated on by Georank team

Kuwait has a GDP of $160B compared to $99B for Sri Lanka, ranking 59/197 and 72/197 by economy size, respectively.

Kuwait has $4.68B in government debt (2.92% of GDP), compared to $99.8B (100.8% of GDP) in Sri Lanka.

Kuwait vs Sri Lanka GDP by year

Kuwait
Sri Lanka
1x
Year GDP, current $
Kuwait Sri Lanka
2024 $160,227,273,053 $98,963,185,510
2023 $165,384,407,116 $83,716,142,582
2022 $183,502,046,694 $74,143,020,263
2021 $148,350,671,489 $88,556,698,938
2020 $111,045,470,606 $84,335,574,582
2019 $140,856,394,861 $88,998,706,297
2018 $138,646,316,351 $94,450,015,983
2017 $120,687,539,806 $94,369,350,286
2016 $109,406,674,125 $88,000,211,172
2015 $114,585,555,689 $85,090,301,052
2014 $162,650,450,685 $82,531,125,191
2013 $174,168,116,535 $76,976,203,829
2012 $174,047,662,680 $70,447,217,164
2011 $154,039,231,246 $67,753,285,897
2010 $115,416,245,242 $58,636,049,434
2009 $105,968,691,905 $42,066,224,093
2008 $147,379,737,230 $40,713,826,215
2007 $114,634,043,362 $32,350,238,760
2006 $101,557,330,723 $28,267,410,543
2005 $80,798,630,137 $24,405,791,045
2004 $59,439,090,601 $20,662,525,941
2003 $47,874,582,232 $18,881,765,437
2002 $38,135,788,414 $16,536,535,647
2001 $34,889,559,870 $15,749,753,805
2000 $37,718,743,480 $16,595,882,819
1999 $30,122,365,849 $15,711,933,513
1998 $25,943,705,784 $15,760,736,956
1997 $30,350,190,704 $15,091,913,884
1996 $31,492,373,309 $13,897,738,375
1995 $27,186,980,647 $13,029,697,561
1994 $24,848,483,838 $11,717,604,209
1993 $23,941,391,391 $10,338,679,636
1992 $19,858,555,215 $9,703,011,636
1991 $11,009,993,703 $9,000,362,582
1990 $18,427,777,778 $8,032,551,173
1989 $24,313,855,653 $6,987,267,684
1988 $20,690,322,153 $6,978,371,581
1987 $22,368,704,134 $6,682,167,120
1986 $17,903,989,745 $6,405,210,564
1985 $21,445,970,614 $5,978,460,972
1984 $21,700,082,753 $6,043,474,843
1983 $20,871,081,080 $5,167,913,302
1982 $21,577,153,356 $4,768,765,017
1981 $25,058,020,338 $4,415,844,156
1980 $28,638,868,356 $4,024,621,900
1979 $24,749,063,922 $3,364,611,432
1978 $15,503,557,496 $2,733,183,857
1977 $14,137,406,741 $4,104,509,583
1976 $13,132,252,802 $3,591,319,857
1975 $12,022,811,621 $3,791,298,146
1974 $13,006,948,296 $3,574,586,466
1973 $5,408,804,607 $2,875,625,000
1972 $4,450,537,925 $2,553,936,348
1971 $3,880,392,195 $2,369,308,600
1970 $2,873,638,851 $2,296,470,588
1969 $2,769,198,892 $1,965,546,218
1968 $2,662,798,935 $1,801,344,538
1967 $2,441,599,023 $1,859,465,021
1966 $2,391,199,044 $1,751,470,588
1965 $2,097,199,161 $1,698,319,328
1964 $2,071,668,533 $1,309,747,899
1963 $1,900,895,857 $1,240,672,269
1962 $1,828,107,503 $1,434,156,379
1961 - $1,444,327,731
1960 - $1,409,873,950

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/kuwait/sri-lanka | CC BY

GDP per capita in Kuwait vs Sri Lanka by year

Kuwait
GDP per capita

GDP per capita, PPP
Sri Lanka
GDP per capita

GDP per capita, PPP
1x
Year Current $
Kuwait Sri Lanka
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $32,718 $52,444 $4,516 $15,633
2023 $34,076 $53,025 $3,799 $14,456
2022 $39,982 $55,043 $3,343 $14,194
2021 $34,019 $50,652 $3,997 $14,316
2020 $25,236 $41,462 $3,848 $12,941
2019 $31,708 $50,703 $4,082 $14,113
2018 $32,068 $51,371 $4,359 $14,178
2017 $29,048 $46,566 $4,399 $13,610
2016 $27,324 $41,862 $4,149 $13,079
2015 $29,882 $45,267 $4,058 $12,227
2014 $44,369 $68,337 $3,972 $11,721
2013 $49,651 $76,813 $3,739 $11,253
2012 $52,155 $82,090 $3,328 $10,249
2011 $49,170 $79,037 $3,225 $9,076
2010 $39,212 $75,184 $2,808 $8,234
2009 $37,907 $80,110 $2,027 $7,576
2008 $55,585 $90,337 $1,974 $7,317
2007 $45,709 $91,435 $1,579 $6,820
2006 $42,947 $89,075 $1,389 $6,261
2005 $36,123 $84,968 $1,207 $5,679
2004 $27,552 $77,227 $1,029 $5,216
2003 $22,691 $69,752 $946 $4,850
2002 $18,513 $59,713 $835 $4,522
2001 $17,374 $58,553 $804 $4,328
2000 $19,296 $58,703 $860 $4,368
1999 $15,854 $56,406 $829 $4,103
1998 $14,067 $58,344 $848 $3,952
1997 $16,977 $57,420 $827 $3,804
1996 $18,201 $56,913 $776 $3,582
1995 $16,168 $57,163 $742 $3,454
1994 $14,930 $53,946 $678 $3,260
1993 $14,318 $48,482 $607 $3,067
1992 $12,146 $36,149 $580 $2,851
1991 $8,147 $23,390 $546 $2,713
1990 $10,938 $30,763 $491 $2,527
1989 $10,965 - $430 -
1988 $9,692 - $434 -
1987 $10,896 - $420 -
1986 $9,077 - $407 -
1985 $11,322 - $385 -
1984 $11,919 - $391 -
1983 $11,965 - $336 -
1982 $12,979 - $312 -
1981 $15,825 - $292.5 -
1980 $19,032 - $271.1 -
1979 $17,386 - $230.8 -
1978 $11,567 - $191 -
1977 $11,238 - $292.1 -
1976 $11,141 - $260.3 -
1975 $10,882 - $279.8 -
1974 $12,527 - $268.7 -
1973 $5,532 - $220.2 -
1972 $4,836 - $199.4 -
1971 $4,486 - $188.8 -
1970 $3,552 - $186.9 -
1969 $3,695 - $163.6 -
1968 $3,872 - $153.5 -
1967 $3,887 - $162.3 -
1966 $4,176 - $156.6 -
1965 $4,024 - $155.6 -
1964 $4,379 - $122.9 -
1963 $4,445 - $119.4 -
1962 $4,748 - $141.4 -
1961 - - $145.9 -
1960 - - $145.9 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/kuwait/sri-lanka | CC BY

Kuwait's GDP per capita is $32,718, ranking 37/197, compared to $4,516 in Sri Lanka, ranking 124/197. Adjusted for purchasing power (GDP per capita PPP), Kuwait ranks 40th at $52,444, while Sri Lanka ranks 111th at $15,633.

Economic indicators

Kuwait Sri Lanka
Gross domestic product
$160B
2024
$99B
2024
GDP rank
59/197
2024
72/197
2024
GDP growth
-2.56%
2023-2024
5.01%
2023-2024
GDP per capita
$32,718
2024
$4,516
2024
GDP per capita rank
37/197
2024
124/197
2024
GDP per capita, PPP
$52,444
2024
$15,633
2024
GDP per capita PPP rank
40/197
2024
111/197
2024
Government debt
$4.68B
2024
$99.8B
2024
Debt-to-GDP ratio
2.92%
2024
100.8%
2024
Government debt per person
$956
2024
$4,554
2024
Government debt per person rank
143/185
2024
85/185
2024
Average annual personal income after taxes
$23,828
2026
$2,874
2026
Market capitalization of domestic companies
$141B
2024
$19.5B
2024
Income share by richest 10% n/a
30.8%
2019
Income share by poorest 10% n/a
3.1%
2019
Government expenditure, % of GDP
50.4%
2024
19.3%
2024
Consumer prices inflation
2.9%
2023-2024
-0.43%
2023-2024
Central bank interest rate
3.5%
2025
7.75%
2025
Unemployment rate
2.16%
2016
4.67%
2023
Population
5100145
22185425

Spending and national debt comparison by year

Kuwait
Spending

Debt
Sri Lanka
Spending

Debt
1x
Year % of GDP
Kuwait Sri Lanka
Government spending Government debt Government spending Government debt
2024 50.4% 2.92% 19.3% 100.8%
2023 48.3% 3.13% 19.5% 110.4%
2022 39.6% 2.95% 18.6% 115.9%
2021 48.3% 7.2% 20% 102.7%
2020 62.9% 10.2% 22.1% 96.9%
2019 50.3% 10.5% 19.5% 82.6%
2018 51.1% 14.3% 17.5% 83.6%
2017 51.9% 19.6% 17.9% 72.3%
2016 54.1% 9.88% 18.2% 75%
2015 55.4% 4.6% 19.3% 76.3%
2014 45% 3.43% 17.2% 69.6%
2013 38.4% 3.09% 16.6% 69.5%
2012 38.2% 3.6% 17.3% 67.5%
2011 39.7% 4.64% 19.1% 69.4%
2010 45.5% 6.16% 19.3% 68.7%
2009 42.9% 6.65% 21% 72.8%
2008 40.9% 5.38% 19.1% 68.8%
2007 30.4% 7.05% 19.9% 71.8%
2006 32.3% 7.79% 20.5% 74.3%
2005 28.8% 10.2% 20.1% 76.6%
2004 35.3% 13.9% 19.3% 86.5%
2003 38.2% 17.2% 19.3% 86.5%
2002 42.8% 21.3% 20.8% 96.3%
2001 41.4% 23% 22.4% 84.4%
2000 29.9% 21.4% 21.7% 79.2%
1999 44.5% 25.5% 20.5% 77.7%
1998 51.7% 25.6% 21.4% 74.2%
1997 43.8% 24.3% 21.4% 70.1%
1996 42.8% 26.5% 23.1% 76.2%
1995 52% 34.9% 24.8% 77.8%
1994 57.8% 37.7% 24.1% 77.9%
1993 58.2% 28.8% 23.2% 79.2%
1992 77.6% 27.9% 23% 77.9%
1991 208.9% 45.3% 26.4% 80.5%
1990 122.9% - 25.4% 78.9%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/kuwait/sri-lanka | CC BY

In 2024, Kuwait's government spending was $80.8B, accounting for 50.4% of its GDP, while Sri Lanka spent $19.1B, or 19.3% of GDP.

Debt-to-GDP ratio is 2.92% in Kuwait and 100.8% in Sri Lanka, ranking 184/185 and 23/185, respectively.

Government deficit by year

Deficit/surplus
Kuwait

Sri Lanka
1x
Year Deficit/surplus, % of GDP
Kuwait Sri Lanka
2024 23.8% -5.64%
2023 28.2% -8.32%
2022 30% -10.2%
2021 9.98% -11.7%
2020 0.14% -13.4%
2019 13% -7.52%
2018 17.5% -4.96%
2017 15.3% -5.1%
2016 13.1% -5%
2015 16.6% -6.64%
2014 30% -5.99%
2013 40.6% -5%
2012 40.7% -5.44%
2011 38.8% -6.01%
2010 31.9% -6.73%
2009 31.3% -8.33%
2008 21.3% -5.93%
2007 37.1% -5.81%
2006 28% -5.91%
2005 38.9% -5.93%
2004 32.5% -6.32%
2003 27.2% -6.15%
2002 31% -6.9%
2001 45.2% -8.48%
2000 52.5% -7.78%
1999 28.2% -5.58%
1998 19.5% -6.79%
1997 29.5% -5.71%
1996 24.3% -6.89%
1995 11.7% -7.11%
1994 1.76% -7.41%
1993 -3.12% -5.77%
1992 -28.1% -4.95%
1991 -145% -7.97%
1990 -50% -6.39%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/kuwait/sri-lanka | 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 Sri Lanka's deficit of $5.58B, or 5.64% of GDP.

Over the past 35 years, Kuwait recorded a fiscal deficit in 4 of those years, while Sri Lanka ran a deficit in 35 years. On average, Kuwait posted an annual surplus equal to 16.7% of GDP, compared to deficit of 6.85% of GDP for Sri Lanka.

Inflation comparison by year

Inflation
Kuwait

Sri Lanka
1x
Year Consumer prices inflation
Kuwait Sri Lanka
2024 2.9% -0.43%
2023 3.64% 16.5%
2022 3.98% 49.7%
2021 3.42% 7.01%
2020 2.1% 6.15%
2019 1.09% 3.53%
2018 0.54% 2.14%
2017 2.17% 7.7%
2016 3.2% 3.96%
2015 3.27% 3.77%
2014 2.91% 3.18%
2013 2.68% 6.91%
2012 3.26% 7.54%
2011 4.84% 6.72%
2010 4.5% 6.22%
2009 4.61% 3.46%
2008 10.6% 22.6%
2007 5.48% 15.8%
2006 3.06% 10%
2005 4.14% 11.6%
2004 1.25% 7.58%
2003 0.96% 6.31%
2002 0.89% 9.55%
2001 1.3% 14.2%
2000 1.81% 6.18%
1999 2.99% 4.69%
1998 0.13% 9.36%
1997 0.68% 9.57%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/kuwait/sri-lanka | CC BY

Over the past 28 years, Kuwait has recorded an average annual inflation rate of 2.94%, compared with 9.34% in Sri Lanka. In 2024, inflation was 2.9% in Kuwait and -0.43% in Sri Lanka.

Top exports between countries

Kuwait
Export category Export value
Chemicals & pharma $18.1M
Miscellaneous $11.7M
Textiles & consumer goods $172K
Raw materials & minerals $122K
Machinery & equipment $80K
Processed food, beverages & tobacco $22K
Raw agricultural goods $6K
Animal & marine products $2K
Metals $2K
Sri Lanka
Export category Export value
Raw agricultural goods $16.4M
Processed food, beverages & tobacco $8.04M
Raw materials & minerals $994K
Textiles & consumer goods $574K
Animal & marine products $397K
Machinery & equipment $224K
Wood & paper products $197K
Chemicals & pharma $43K
Miscellaneous $35K
Precious metals & jewellery $35K

Balance of trade

Kuwait Sri Lanka
Current account balance
$46.7B
2024
$1.21B
2024
Current account balance ranking
15/190
2024
53/190
2024
Current account balance, % of GDP
+29.1%
2024
+1.22%
2024
Goods imports
$33.4B
2024
$18.8B
2024
Goods exports
$77.5B
2024
$12.8B
2024
Service imports
$28.1B
2024
$3.48B
2024
Service exports
$12.2B
2024
$6.91B
2024
Imports of goods and services, % of GDP
38.3%
2023
22.5%
2024
Exports of goods and services, % of GDP
57.7%
2023
19.9%
2024

Economic freedom indices

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

Kuwait Sri Lanka
Economic freedom 59.9 50.3
Economic freedom ranking 100/197 162/197
Property rights 42 47.3
Government integrity 47.9 37.3
Judicial effectiveness 43.4 47.2
Tax burden 97.7 77
Government spending 36.2 89
Fiscal health 99.9 0
Business freedom 57.4 60.1
Labor freedom 49.2 54.3
Monetary freedom 68.7 65.9
Trade freedom 75.8 65.6
Investment freedom 50 30
Financial freedom 50 30

Economic freedom comparison by year

Kuwait
Sri Lanka
1x
Year Economic freedom index
Kuwait Sri Lanka
2026 59.9 50.3
2025 59.9 49.4
2024 58.5 49.2
2023 56.7 52.2
2022 58.3 53.3
2021 64.1 55.7
2020 63.2 57.4
2019 60.8 56.4
2018 62.2 57.8
2017 65.1 57.4
2016 62.7 59.9
2015 62.5 58.6
2014 62.3 60
2013 63.1 60.7
2012 62.5 58.3
2011 64.9 57.1
2010 67.7 54.6
2009 65.6 56
2008 68.1 58.4
2007 66.4 59.4
2006 66.5 58.7
2005 64.6 61
2004 63.6 61.6
2003 66.7 62.5
2002 65.4 64
2001 68.2 66
2000 69.7 63.2
1999 69.5 64
1998 66.3 64.6
1997 64.8 65.5
1996 66.1 62.5
1995 - 60.6

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

GeoRank.org/economy/kuwait/sri-lanka | CC BY

The Economic Freedom Index for Kuwait is 59.9, ranking 100/197, compared to 50.3 for Sri Lanka, ranking 162/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Kuwait Sri Lanka
Services, % of GDP
55.9%
2024
57.5%
2024
Industry, % of GDP
57.1%
2024
25.5%
2024
Agriculture, forestry, and fishing, % of GDP
0.49%
2024
8.3%
2024
GNI, Atlas method
$200B
2024
$84.6B
2024
GNI per capita, PPP
$63,270
2024
$15,240
2024
Total reserves including gold
$50.7B
2024
$6.09B
2024
Total reserves ranking
41/177
2024
92/177
2024
Net foreign direct investment
$9.71B
2024
-$651M
2024
Net inflows of foreign direct investment
$615M
2024
$761M
2024
Net outflows of foreign direct investment
$10.3B
2024
$110M
2024
Servicing debt to the IMF, % of GNI n/a
4.98%
2024
Poverty at national poverty lines n/a
14.3%
2019
Gross capital formation, % of GDP
17.7%
2023
27%
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/sri-lanka | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2020–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. 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.

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.