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Economy of Kuwait vs Syria compared: GDP & Debt

Updated on by Georank team

Kuwait has a GDP of $160B compared to $20B for Syria, ranking 59/197 and 129/197 by economy size, respectively.

Kuwait has $4.68B in government debt (2.92% of GDP), compared to $18.4B (30% of GDP) in Syria.

Kuwait vs Syria GDP by year

Kuwait
Syria
1x
Year GDP, current $
Kuwait Syria
2024 $160,227,273,053 -
2023 $165,384,407,116 $19,993,439,950
2022 $183,502,046,694 $23,622,827,080
2021 $148,350,671,489 $14,353,205,678
2020 $111,045,470,606 $12,047,752,036
2019 $140,856,394,861 $22,583,045,060
2018 $138,646,316,351 $21,497,782,868
2017 $120,687,539,806 $16,369,843,352
2016 $109,406,674,125 $12,597,854,877
2015 $114,585,555,689 $16,466,863,117
2014 $162,650,450,685 $21,502,061,466
2013 $174,168,116,535 $21,361,254,635
2012 $174,047,662,680 $43,190,318,033
2011 $154,039,231,246 $67,539,428,159
2010 $115,416,245,242 $61,390,830,875
2009 $105,968,691,905 $54,111,735,629
2008 $147,379,737,230 $52,557,913,569
2007 $114,634,043,362 $40,465,318,382
2006 $101,557,330,723 $33,751,788,856
2005 $80,798,630,137 $28,858,965,517
2004 $59,439,090,601 $25,086,950,495
2003 $47,874,582,232 $21,828,144,686
2002 $38,135,788,414 $20,669,357,462
2001 $34,889,559,870 $20,237,024,725
2000 $37,718,743,480 $18,937,052,543
1999 $30,122,365,849 $15,873,875,969
1998 $25,943,705,784 $15,200,846,154
1997 $30,350,190,704 $14,505,233,463
1996 $31,492,373,309 $13,789,560,878
1995 $27,186,980,647 $11,396,706,587
1994 $24,848,483,838 $10,122,020,000
1993 $23,941,391,391 $13,695,962,055
1992 $19,858,555,215 $13,253,565,861
1991 $11,009,993,703 $12,981,833,333
1990 $18,427,777,778 $12,308,624,418
1989 $24,313,855,653 $9,853,395,762
1988 $20,690,322,153 $10,577,041,645
1987 $22,368,704,134 $11,356,215,543
1986 $17,903,989,745 $13,293,205,278
1985 $21,445,970,614 $16,403,539,893
1984 $21,700,082,753 $17,503,078,174
1983 $20,871,081,080 $17,589,277,143
1982 $21,577,153,356 $16,298,929,011
1981 $25,058,020,338 $15,518,201,335
1980 $28,638,868,356 $13,062,420,382
1979 $24,749,063,922 $9,929,681,529
1978 $15,503,557,496 $9,275,200,458
1977 $14,137,406,741 $7,696,011,396
1976 $13,132,252,802 $7,633,528,867
1975 $12,022,811,621 $6,826,980,444
1974 $13,006,948,296 $5,159,557,148
1973 $5,408,804,607 $3,239,487,516
1972 $4,450,537,925 $3,059,681,698
1971 $3,880,392,195 $2,589,851,325
1970 $2,873,638,851 $2,140,384,010
1969 $2,769,198,892 $2,245,011,515
1968 $2,662,798,935 $1,753,746,430
1967 $2,441,599,023 $1,580,229,799
1966 $2,391,199,044 $1,342,287,553
1965 $2,097,199,161 $1,472,036,540
1964 $2,071,668,533 $1,339,494,267
1963 $1,900,895,857 $1,200,447,408
1962 $1,828,107,503 $1,110,565,881
1961 - $945,244,972
1960 - $857,704,413

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

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

GDP per capita in Kuwait vs Syria by year

Kuwait
GDP per capita

GDP per capita, PPP
Syria
GDP per capita

GDP per capita, PPP
1x
Year Current $
Kuwait Syria
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $32,718 $52,444 - -
2023 $34,076 $53,025 $847 $4,650
2022 $39,982 $55,043 $1,052 $4,772
2021 $34,019 $50,652 $664 $4,593
2020 $25,236 $41,462 $572 $3,738
2019 $31,708 $50,703 $1,110 $3,502
2018 $32,068 $51,371 $1,098 $3,456
2017 $29,048 $46,566 $852 $3,265
2016 $27,324 $41,862 $656 -
2015 $29,882 $45,267 $848 -
2014 $44,369 $68,337 $1,061 -
2013 $49,651 $76,813 $986 -
2012 $52,155 $82,090 $1,898 -
2011 $49,170 $79,037 $2,952 -
2010 $39,212 $75,184 $2,731 -
2009 $37,907 $80,110 $2,462 -
2008 $55,585 $90,337 $2,429 -
2007 $45,709 $91,435 $1,938 -
2006 $42,947 $89,075 $1,719 -
2005 $36,123 $84,968 $1,534 -
2004 $27,552 $77,227 $1,368 -
2003 $22,691 $69,752 $1,220 -
2002 $18,513 $59,713 $1,183 -
2001 $17,374 $58,553 $1,187 -
2000 $19,296 $58,703 $1,138 -
1999 $15,854 $56,406 $978 -
1998 $14,067 $58,344 $961 -
1997 $16,977 $57,420 $941 -
1996 $18,201 $56,913 $918 -
1995 $16,168 $57,163 $780 -
1994 $14,930 $53,946 $712 -
1993 $14,318 $48,482 $993 -
1992 $12,146 $36,149 $990 -
1991 $8,147 $23,390 $1,000 -
1990 $10,938 $30,763 $978 -
1989 $10,965 - $809 -
1988 $9,692 - $898 -
1987 $10,896 - $997 -
1986 $9,077 - $1,208 -
1985 $11,322 - $1,544 -
1984 $11,919 - $1,706 -
1983 $11,965 - $1,776 -
1982 $12,979 - $1,703 -
1981 $15,825 - $1,676 -
1980 $19,032 - $1,458 -
1979 $17,386 - $1,146 -
1978 $11,567 - $1,108 -
1977 $11,238 - $951 -
1976 $11,141 - $976 -
1975 $10,882 - $904 -
1974 $12,527 - $707 -
1973 $5,532 - $459 -
1972 $4,836 - $448 -
1971 $4,486 - $393 -
1970 $3,552 - $335 -
1969 $3,695 - $364 -
1968 $3,872 - $293.3 -
1967 $3,887 - $272.9 -
1966 $4,176 - $239.3 -
1965 $4,024 - $270.8 -
1964 $4,379 - $254.2 -
1963 $4,445 - $234.9 -
1962 $4,748 - $223.9 -
1961 - - $196.3 -
1960 - - $183.5 -

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

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

Kuwait's GDP per capita is $32,718, ranking 37/197, compared to $847 in Syria, ranking 185/197. Adjusted for purchasing power (GDP per capita PPP), Kuwait ranks 40th at $52,444, while Syria ranks 160th at $4,650.

Economic indicators

Kuwait Syria
Gross domestic product
$160B
2024
$20B
2023
GDP rank
59/197
2024
129/197
2023
GDP growth
-2.56%
2023-2024
-1.21%
2022-2023
GDP per capita
$32,718
2024
$847
2023
GDP per capita rank
37/197
2024
185/197
2023
GDP per capita, PPP
$52,444
2024
$4,650
2023
GDP per capita PPP rank
40/197
2024
160/197
2023
Government debt
$4.68B
2024
$18.4B
2010
Debt-to-GDP ratio
2.92%
2024
30%
2010
Government debt per person
$956
2024
$820
2010
Government debt per person rank
143/185
2024
148/185
2010
Average annual personal income after taxes
$23,828
2026
$730
2026
Market capitalization of domestic companies
$141B
2024
n/a
Income share by richest 10% n/a
21.1%
2022
Income share by poorest 10% n/a
3.8%
2022
Government expenditure, % of GDP
50.4%
2024
28.6%
2010
Consumer prices inflation
2.9%
2023-2024
13.4%
2018-2019
Central bank interest rate
3.5%
2025
n/a
Unemployment rate
2.16%
2016
8.61%
2010
Population
5100145
26829400

Spending and national debt comparison by year

Kuwait
Spending

Debt
Syria
Spending

Debt
1x
Year % of GDP
Kuwait Syria
Government spending Government debt Government spending Government debt
2024 50.4% 2.92% - -
2023 48.3% 3.13% - -
2022 39.6% 2.95% - -
2021 48.3% 7.2% - -
2020 62.9% 10.2% - -
2019 50.3% 10.5% - -
2018 51.1% 14.3% - -
2017 51.9% 19.6% - -
2016 54.1% 9.88% - -
2015 55.4% 4.6% - -
2014 45% 3.43% - -
2013 38.4% 3.09% - -
2012 38.2% 3.6% - -
2011 39.7% 4.64% - -
2010 45.5% 6.16% 28.6% 30%
2009 42.9% 6.65% 26.7% 31.2%
2008 40.9% 5.38% 22.9% 37.3%
2007 30.4% 7.05% 25.7% 42.7%
2006 32.3% 7.79% 26.3% 45%
2005 28.8% 10.2% 28.2% 50.7%
2004 35.3% 13.9% 31.3% 113%
2003 38.2% 17.2% 32.6% 133.4%
2002 42.8% 21.3% 28.5% 132.4%
2001 41.4% 23% 28% 144.5%
2000 29.9% 21.4% 27.4% 152.1%
1999 44.5% 25.5% 28% 147.7%
1998 51.7% 25.6% 28.8% 151.2%
1997 43.8% 24.3% 29% 147.6%
1996 42.8% 26.5% 27.7% 141.5%
1995 52% 34.9% 29.8% 152.6%
1994 57.8% 37.7% 30.3% 163%
1993 58.2% 28.8% 29.4% 171.9%
1992 77.6% 27.9% 34.2% 173.6%
1991 208.9% 45.3% 34.3% 182.4%
1990 122.9% - 28.3% 189.8%

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

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

In 2024, Kuwait's government spending was $80.8B, accounting for 50.4% of its GDP, while Syria spent $17.6B, or 28.6% of GDP.

Debt-to-GDP ratio is 2.92% in Kuwait and 30% in Syria, ranking 184/185 and 157/185, respectively.

Government deficit by year

Deficit/surplus
Kuwait

Syria
1x
Year Deficit/surplus, % of GDP
Kuwait Syria
2024 23.8% -
2023 28.2% -
2022 30% -
2021 9.98% -
2020 0.14% -
2019 13% -
2018 17.5% -
2017 15.3% -
2016 13.1% -
2015 16.6% -
2014 30% -
2013 40.6% -
2012 40.7% -
2011 38.8% -
2010 31.9% -7.79%
2009 31.3% -2.89%
2008 21.3% -2.86%
2007 37.1% -2.99%
2006 28% -1.12%
2005 38.9% -4.41%
2004 32.5% -4.18%
2003 27.2% -2.7%
2002 31% -2.02%
2001 45.2% 2.3%
2000 52.5% -1.36%
1999 28.2% -1.47%
1998 19.5% -2.81%
1997 29.5% -1.78%
1996 24.3% -2.83%
1995 11.7% -3.81%
1994 1.76% -6%
1993 -3.12% -4.96%
1992 -28.1% -7.26%
1991 -145% -6.57%
1990 -50% -3.92%

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

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

In 2010, Kuwait's government surplus, the difference between spending and revenue, was $36.8B, equivalent to 31.9% of GDP. This compares to Syria's deficit of $4.78B, or 7.79% of GDP.

Over the past 21 years, Kuwait recorded a fiscal deficit in 4 of those years, while Syria ran a deficit in 20 years. On average, Kuwait posted an annual surplus equal to 12.7% of GDP, compared to deficit of 3.4% of GDP for Syria.

Inflation comparison by year

Inflation
Kuwait

Syria
1x
Year Consumer prices inflation
Kuwait Syria
2024 2.9% -
2023 3.64% -
2022 3.98% -
2021 3.42% -
2020 2.1% -
2019 1.09% 13.4%
2018 0.54% 0.94%
2017 2.17% 18.1%
2016 3.2% 47.7%
2015 3.27% 38.5%
2014 2.91% 10.9%
2013 2.68% 40%
2012 3.26% 36.7%
2011 4.84% 4.75%
2010 4.5% 4.4%
2009 4.61% 2.92%
2008 10.6% 15.7%
2007 5.48% 3.91%
2006 3.06% 10%
2005 4.14% 7.24%
2004 1.25% 4.43%
2003 0.96% 5.8%
2002 0.89% -0.13%
2001 1.3% 3%
2000 1.81% -3.85%
1999 2.99% -3.7%
1998 0.13% -0.8%
1997 0.68% 1.89%

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

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

Over the past 23 years, Kuwait has recorded an average annual inflation rate of 2.88%, compared with 11.4% in Syria. In 2019, inflation was 2.9% in Kuwait and 13.4% in Syria.

Top exports between countries

Kuwait
Export category Export value
Machinery & equipment $904K
Raw materials & minerals $893K
Chemicals & pharma $646K
Animal & marine products $339K
Textiles & consumer goods $237K
Precious metals & jewellery $189K
Raw agricultural goods $130K
Metals $64K
Processed food, beverages & tobacco $47K
Miscellaneous $28K
Syria
Export category Export value
Raw agricultural goods $43.4M
Animal & marine products $34.6M
Processed food, beverages & tobacco $28.5M
Textiles & consumer goods $28.3M
Metals $10.1M
Chemicals & pharma $6.61M
Wood & paper products $4.09M
Raw materials & minerals $3.22M
Machinery & equipment $2.21M
Miscellaneous $129K

Balance of trade

Kuwait Syria
Current account balance
$46.7B
2024
-$367M
2010
Current account balance ranking
15/190
2024
103/190
2010
Current account balance, % of GDP
+29.1%
2024
-0.6%
2010
Goods imports
$33.4B
2024
$15.9B
2010
Goods exports
$77.5B
2024
$12.3B
2010
Service imports
$28.1B
2024
$3.53B
2010
Service exports
$12.2B
2024
$7.33B
2010
Imports of goods and services, % of GDP
38.3%
2023
28.8%
2022
Exports of goods and services, % of GDP
57.7%
2023
6.81%
2022

Economic freedom indices

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

Kuwait Syria
Economic freedom 59.9 51.2
Economic freedom ranking 100/197 155/197
Property rights 42 4
Government integrity 47.9 3.6
Judicial effectiveness 43.4 3.7
Tax burden 97.7 87.3
Government spending 36.2 78.5
Fiscal health 99.9 13.8
Business freedom 57.4 33.8
Labor freedom 49.2 37.2
Monetary freedom 68.7 80
Trade freedom 75.8 47
Investment freedom 50 0
Financial freedom 50 20

Economic freedom comparison by year

Kuwait
Syria
1x
Year Economic freedom index
Kuwait Syria
2026 59.9 -
2025 59.9 -
2024 58.5 -
2023 56.7 -
2022 58.3 -
2021 64.1 -
2020 63.2 -
2019 60.8 -
2018 62.2 -
2017 65.1 -
2016 62.7 -
2015 62.5 -
2014 62.3 -
2013 63.1 -
2012 62.5 51.2
2011 64.9 51.3
2010 67.7 49.4
2009 65.6 51.3
2008 68.1 47.2
2007 66.4 48.3
2006 66.5 51.2
2005 64.6 46.3
2004 63.6 40.6
2003 66.7 41.3
2002 65.4 36.3
2001 68.2 36.6
2000 69.7 37.2
1999 69.5 39
1998 66.3 42.2
1997 64.8 43
1996 66.1 42.3

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09).

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

The Economic Freedom Index for Kuwait is 59.9, ranking 100/197, compared to 51.2 for Syria, ranking 155/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Kuwait Syria
Services, % of GDP
55.9%
2024
44.9%
2022
Industry, % of GDP
57.1%
2024
12%
2022
Agriculture, forestry, and fishing, % of GDP
0.49%
2024
43.1%
2022
GNI, Atlas method
$200B
2024
$18.2B
2023
GNI per capita, PPP
$63,270
2024
$4,480
2023
Total reserves including gold
$50.7B
2024
$20.6B
2010
Total reserves ranking
41/177
2024
62/177
2010
Net foreign direct investment
$9.71B
2024
-$1.47B
2010
Net inflows of foreign direct investment
$615M
2024
$0
2024
Net outflows of foreign direct investment
$10.3B
2024
$0
2024
Servicing debt to the IMF, % of GNI n/a
0.15%
2023
Poverty at national poverty lines n/a
35.2%
2007
Gross capital formation, % of GDP
17.7%
2023
16%
1969

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/syria | 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 (1996–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2010–2024, 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.