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Economy of Kuwait vs Uganda compared: GDP & Debt

Updated on by Georank team

Kuwait has a GDP of $160B compared to $53.9B for Uganda, ranking 59/197 and 89/197 by economy size, respectively.

Kuwait has $4.68B in government debt (2.92% of GDP), compared to $27.8B (51.5% of GDP) in Uganda.

Kuwait vs Uganda GDP by year

Kuwait
Uganda
1x
Year GDP, current $
Kuwait Uganda
2024 $160,227,273,053 $53,911,907,086
2023 $165,384,407,116 $48,768,955,863
2022 $183,502,046,694 $45,565,333,211
2021 $148,350,671,489 $40,529,788,749
2020 $111,045,470,606 $37,600,368,242
2019 $140,856,394,861 $35,353,061,003
2018 $138,646,316,351 $32,927,025,620
2017 $120,687,539,806 $30,744,473,841
2016 $109,406,674,125 $29,203,988,696
2015 $114,585,555,689 $32,387,183,730
2014 $162,650,450,685 $32,612,397,257
2013 $174,168,116,535 $28,915,786,517
2012 $174,047,662,680 $27,305,915,911
2011 $154,039,231,246 $27,871,725,241
2010 $115,416,245,242 $26,673,441,431
2009 $105,968,691,905 $25,127,805,567
2008 $147,379,737,230 $14,440,404,132
2007 $114,634,043,362 $11,902,564,495
2006 $101,557,330,723 $9,977,647,683
2005 $80,798,630,137 $9,239,221,763
2004 $59,439,090,601 $7,939,487,548
2003 $47,874,582,232 $6,606,884,275
2002 $38,135,788,414 $6,178,563,591
2001 $34,889,559,870 $5,840,503,869
2000 $37,718,743,480 $6,193,246,837
1999 $30,122,365,849 $5,998,563,258
1998 $25,943,705,784 $6,584,815,847
1997 $30,350,190,704 $6,269,333,313
1996 $31,492,373,309 $6,044,585,327
1995 $27,186,980,647 $5,755,818,842
1994 $24,848,483,838 $3,990,430,447
1993 $23,941,391,391 $3,220,439,044
1992 $19,858,555,215 $2,857,457,762
1991 $11,009,993,703 $3,321,729,160
1990 $18,427,777,778 $4,304,399,310
1989 $24,313,855,653 $5,276,480,799
1988 $20,690,322,153 $6,508,931,652
1987 $22,368,704,134 $6,269,522,042
1986 $17,903,989,745 $3,923,244,050
1985 $21,445,970,614 $3,519,695,444
1984 $21,700,082,753 $3,615,647,477
1983 $20,871,081,080 $2,240,333,333
1982 $21,577,153,356 $2,177,500,000
1981 $25,058,020,338 $1,337,300,000
1980 $28,638,868,356 $1,244,610,000
1979 $24,749,063,922 $2,139,025,000
1978 $15,503,557,496 $2,420,260,870
1977 $14,137,406,741 $2,936,470,588
1976 $13,132,252,802 $2,447,300,000
1975 $12,022,811,621 $2,359,555,556
1974 $13,006,948,296 $2,098,944,967
1973 $5,408,804,607 $1,701,829,789
1972 $4,450,537,925 $1,490,970,181
1971 $3,880,392,195 $1,417,191,656
1970 $2,873,638,851 $1,259,554,809
1969 $2,769,198,892 $1,168,556,629
1968 $2,662,798,935 $1,037,379,252
1967 $2,441,599,023 $967,240,655
1966 $2,391,199,044 $925,381,492
1965 $2,097,199,161 $884,502,310
1964 $2,071,668,533 $589,247,687
1963 $1,900,895,857 $516,315,231
1962 $1,828,107,503 $449,158,233
1961 - $441,667,335
1960 - $423,145,605

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

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

GDP per capita in Kuwait vs Uganda by year

Kuwait
GDP per capita

GDP per capita, PPP
Uganda
GDP per capita

GDP per capita, PPP
1x
Year Current $
Kuwait Uganda
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $32,718 $52,444 $1,078 $3,273
2023 $34,076 $53,025 $1,002 $3,098
2022 $39,982 $55,043 $963 $2,919
2021 $34,019 $50,652 $883 $2,685
2020 $25,236 $41,462 $846 $2,532
2019 $31,708 $50,703 $822 $2,441
2018 $32,068 $51,371 $792 $2,312
2017 $29,048 $46,566 $765 $2,158
2016 $27,324 $41,862 $753 $2,165
2015 $29,882 $45,267 $863 $2,190
2014 $44,369 $68,337 $896 $2,134
2013 $49,651 $76,813 $818 $2,045
2012 $52,155 $82,090 $795 $2,032
2011 $49,170 $79,037 $836 $2,268
2010 $39,212 $75,184 $823 $2,092
2009 $37,907 $80,110 $799 $2,015
2008 $55,585 $90,337 $473 $1,931
2007 $45,709 $91,435 $401 $1,795
2006 $42,947 $89,075 $347 $1,660
2005 $36,123 $84,968 $330 $1,497
2004 $27,552 $77,227 $292.4 $1,405
2003 $22,691 $69,752 $250.7 $1,320
2002 $18,513 $59,713 $242 $1,255
2001 $17,374 $58,553 $236 $1,173
2000 $19,296 $58,703 $258.1 $1,124
1999 $15,854 $56,406 $257.9 $1,100
1998 $14,067 $58,344 $292.5 $1,037
1997 $16,977 $57,420 $286.8 $1,007
1996 $18,201 $56,913 $284.7 $969
1995 $16,168 $57,163 $278.5 $897
1994 $14,930 $53,946 $198.4 $809
1993 $14,318 $48,482 $165.6 $770
1992 $12,146 $36,149 $152.1 $719
1991 $8,147 $23,390 $183 $703
1990 $10,938 $30,763 $245 $666
1989 $10,965 - $310 -
1988 $9,692 - $395 -
1987 $10,896 - $393 -
1986 $9,077 - $253.6 -
1985 $11,322 - $234.3 -
1984 $11,919 - $247.5 -
1983 $11,965 - $157.5 -
1982 $12,979 - $157 -
1981 $15,825 - $98.6 -
1980 $19,032 - $93.8 -
1979 $17,386 - $164.5 -
1978 $11,567 - $190.7 -
1977 $11,238 - $237.6 -
1976 $11,141 - $203.3 -
1975 $10,882 - $201.2 -
1974 $12,527 - $183.7 -
1973 $5,532 - $152.7 -
1972 $4,836 - $137 -
1971 $4,486 - $133.5 -
1970 $3,552 - $122 -
1969 $3,695 - $116.7 -
1968 $3,872 - $106.9 -
1967 $3,887 - $102.8 -
1966 $4,176 - $101.4 -
1965 $4,024 - $100 -
1964 $4,379 - $68.6 -
1963 $4,445 - $62 -
1962 $4,748 - $55.5 -
1961 - - $56.2 -
1960 - - $55.4 -

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

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

Kuwait's GDP per capita is $32,718, ranking 37/197, compared to $1,078 in Uganda, ranking 176/197. Adjusted for purchasing power (GDP per capita PPP), Kuwait ranks 40th at $52,444, while Uganda ranks 176th at $3,273.

Economic indicators

Kuwait Uganda
Gross domestic product
$160B
2024
$53.9B
2024
GDP rank
59/197
2024
89/197
2024
GDP growth
-2.56%
2023-2024
6.06%
2023-2024
GDP per capita
$32,718
2024
$1,078
2024
GDP per capita rank
37/197
2024
176/197
2024
GDP per capita, PPP
$52,444
2024
$3,273
2024
GDP per capita PPP rank
40/197
2024
176/197
2024
Government debt
$4.68B
2024
$27.8B
2024
Debt-to-GDP ratio
2.92%
2024
51.5%
2024
Government debt per person
$956
2024
$555
2024
Government debt per person rank
143/185
2024
163/185
2024
Average annual personal income after taxes
$23,828
2026
$1,466
2026
Market capitalization of domestic companies
$141B
2024
n/a
Income share by richest 10% n/a
34.5%
2019
Income share by poorest 10% n/a
2.4%
2019
Government expenditure, % of GDP
50.4%
2024
18.7%
2024
Consumer prices inflation
2.9%
2023-2024
3.3%
2023-2024
Central bank interest rate
3.5%
2025
9.75%
2024
Unemployment rate
2.16%
2016
3.42%
2021
Population
5100145
53170946

Spending and national debt comparison by year

Kuwait
Spending

Debt
Uganda
Spending

Debt
1x
Year % of GDP
Kuwait Uganda
Government spending Government debt Government spending Government debt
2024 50.4% 2.92% 18.7% 51.5%
2023 48.3% 3.13% 19.3% 50.5%
2022 39.6% 2.95% 19.5% 50.2%
2021 48.3% 7.2% 22% 50.3%
2020 62.9% 10.2% 21.4% 46.3%
2019 50.3% 10.5% 18.3% 37.5%
2018 51.1% 14.3% 16.2% 34.9%
2017 51.9% 19.6% 16.3% 33.6%
2016 54.1% 9.88% 15.2% 31.3%
2015 55.4% 4.6% 14.9% 28%
2014 45% 3.43% 13.6% 24.8%
2013 38.4% 3.09% 13.3% 22.1%
2012 38.2% 3.6% 13.1% 19.5%
2011 39.7% 4.64% 13.2% 18%
2010 45.5% 6.16% 15.4% 18.4%
2009 42.9% 6.65% 11.8% 14.8%
2008 40.9% 5.38% 12.9% 15.7%
2007 30.4% 7.05% 13.2% 17%
2006 32.3% 7.79% 13.7% 27.8%
2005 28.8% 10.2% 14.5% 42.6%
2004 35.3% 13.9% 15.6% 49%
2003 38.2% 17.2% 16.5% 55.1%
2002 42.8% 21.3% 16.8% 54.7%
2001 41.4% 23% 16.2% 51.4%
2000 29.9% 21.4% 15.2% 48.5%
1999 44.5% 25.5% 14.7% 47.7%
1998 51.7% 25.6% 14% 45.1%
1997 43.8% 24.3% 13.9% 44.2%
1996 42.8% 26.5% - -
1995 52% 34.9% - -
1994 57.8% 37.7% - -
1993 58.2% 28.8% - -
1992 77.6% 27.9% - -
1991 208.9% 45.3% - -
1990 122.9% - - -

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

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

In 2024, Kuwait's government spending was $80.8B, accounting for 50.4% of its GDP, while Uganda spent $10.1B, or 18.7% of GDP.

Debt-to-GDP ratio is 2.92% in Kuwait and 51.5% in Uganda, ranking 184/185 and 103/185, respectively.

Government deficit by year

Deficit/surplus
Kuwait

Uganda
1x
Year Deficit/surplus, % of GDP
Kuwait Uganda
2024 23.8% -3.99%
2023 28.2% -4.87%
2022 30% -5.45%
2021 9.98% -7.76%
2020 0.14% -7.76%
2019 13% -4.82%
2018 17.5% -3.02%
2017 15.3% -3.83%
2016 13.1% -2.64%
2015 16.6% -2.59%
2014 30% -2.74%
2013 40.6% -3.19%
2012 40.7% -2.39%
2011 38.8% -2.04%
2010 31.9% -4.64%
2009 31.3% -1.61%
2008 21.3% -1.99%
2007 37.1% -0.82%
2006 28% -0.64%
2005 38.9% -0.17%
2004 32.5% 0.34%
2003 27.2% -0.97%
2002 31% -2.07%
2001 45.2% -0.99%
2000 52.5% -0.62%
1999 28.2% -1.24%
1998 19.5% -0.7%
1997 29.5% -0.83%
1996 24.3% -
1995 11.7% -
1994 1.76% -
1993 -3.12% -
1992 -28.1% -
1991 -145% -
1990 -50% -

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

GeoRank.org/economy/kuwait/uganda | 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 Uganda's deficit of $2.15B, or 3.99% of GDP.

Over the past 28 years, Kuwait recorded a fiscal deficit in 0 of those years, while Uganda ran a deficit in 27 years. On average, Kuwait posted an annual surplus equal to 27.6% of GDP, compared to deficit of 2.64% of GDP for Uganda.

Inflation comparison by year

Inflation
Kuwait

Uganda
1x
Year Consumer prices inflation
Kuwait Uganda
2024 2.9% 3.3%
2023 3.64% 5.4%
2022 3.98% 7.2%
2021 3.42% 2.2%
2020 2.1% 2.8%
2019 1.09% 2.1%
2018 0.54% 2.5%
2017 2.17% 5.6%
2016 3.2% 5.2%
2015 3.27% 3.7%
2014 2.91% 4.3%
2013 2.68% 5.5%
2012 3.26% 14%
2011 4.84% 18.7%
2010 4.5% 4%
2009 4.61% 13%
2008 10.6% 12%
2007 5.48% 6.1%
2006 3.06% 7.2%
2005 4.14% 8.6%
2004 1.25% 3.7%
2003 0.96% 8.7%
2002 0.89% -0.3%
2001 1.3% 1.9%
2000 1.81% 3.4%
1999 2.99% 5.8%
1998 0.13% 5.8%
1997 0.68% 7.7%

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/uganda | CC BY

Over the past 28 years, Kuwait has recorded an average annual inflation rate of 2.94%, compared with 6.08% in Uganda. In 2024, inflation was 2.9% in Kuwait and 3.3% in Uganda.

Top exports between countries

Kuwait
Export category Export value
Textiles & consumer goods $53K
Miscellaneous $30K
Machinery & equipment $11K
Chemicals & pharma $2K
Uganda
Export category Export value
Raw agricultural goods $232K
Raw materials & minerals $158K
Machinery & equipment $148K
Animal & marine products $103K
Processed food, beverages & tobacco $13K

Balance of trade

Kuwait Uganda
Current account balance
$46.7B
2024
-$4.29B
2024
Current account balance ranking
15/190
2024
164/190
2024
Current account balance, % of GDP
+29.1%
2024
-7.96%
2024
Goods imports
$33.4B
2024
$11.7B
2024
Goods exports
$77.5B
2024
$8.67B
2024
Service imports
$28.1B
2024
$4.38B
2024
Service exports
$12.2B
2024
$2.39B
2024
Imports of goods and services, % of GDP
38.3%
2023
25.9%
2024
Exports of goods and services, % of GDP
57.7%
2023
16.8%
2024

Economic freedom indices

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

Kuwait Uganda
Economic freedom 59.9 52.4
Economic freedom ranking 100/197 149/197
Property rights 42 42.2
Government integrity 47.9 25.1
Judicial effectiveness 43.4 29.4
Tax burden 97.7 73.4
Government spending 36.2 89
Fiscal health 99.9 58.3
Business freedom 57.4 50.2
Labor freedom 49.2 55.9
Monetary freedom 68.7 77.1
Trade freedom 75.8 58
Investment freedom 50 30
Financial freedom 50 40

Economic freedom comparison by year

Kuwait
Uganda
1x
Year Economic freedom index
Kuwait Uganda
2026 59.9 52.4
2025 59.9 51.3
2024 58.5 50.7
2023 56.7 51.4
2022 58.3 54.2
2021 64.1 58.6
2020 63.2 59.5
2019 60.8 59.7
2018 62.2 62
2017 65.1 60.9
2016 62.7 59.3
2015 62.5 59.7
2014 62.3 59.9
2013 63.1 61.1
2012 62.5 61.9
2011 64.9 61.7
2010 67.7 62.2
2009 65.6 63.5
2008 68.1 63.8
2007 66.4 63.1
2006 66.5 63.9
2005 64.6 62.9
2004 63.6 64.1
2003 66.7 60.1
2002 65.4 61
2001 68.2 60.4
2000 69.7 58.2
1999 69.5 64.8
1998 66.3 64.7
1997 64.8 66.6
1996 66.1 66.2
1995 - 62.9

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

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

The Economic Freedom Index for Kuwait is 59.9, ranking 100/197, compared to 52.4 for Uganda, ranking 149/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Kuwait Uganda
Services, % of GDP
55.9%
2024
43.1%
2024
Industry, % of GDP
57.1%
2024
24.9%
2024
Agriculture, forestry, and fishing, % of GDP
0.49%
2024
24.6%
2024
GNI, Atlas method
$200B
2024
$50.9B
2024
GNI per capita, PPP
$63,270
2024
$3,190
2024
Total reserves including gold
$50.7B
2024
$3.36B
2018
Total reserves ranking
41/177
2024
114/177
2018
Net foreign direct investment
$9.71B
2024
-$3.26B
2024
Net inflows of foreign direct investment
$615M
2024
$3.26B
2024
Net outflows of foreign direct investment
$10.3B
2024
$400K
2024
Servicing debt to the IMF, % of GNI n/a
2.96%
2024
Poverty at national poverty lines n/a
20.3%
2019
Gross capital formation, % of GDP
17.7%
2023
22.4%
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/uganda | 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.