Chamber of Commerce Country Factsheet Last update: 08.08.2017
Your advisors at the Chamber of Commerce
- Edith Stein+352423939482
- Daniel Sahr+352423939313
Kuwait has been ruled by the AL-SABAH dynasty since the 18th century. The threat of Ottoman invasion in 1899 prompted Amir Mubarak AL-SABAH to seek protection from Britain, ceding foreign and defense responsibility to Britain until 1961, when the country attained its independence. Kuwait was attacked and overrun by Iraq on 2 August 1990. Following several weeks of aerial bombardment, a US-led UN coalition began a ground assault on 23 February 1991 that liberated Kuwait in four days. Kuwait spent more than $5 billion to repair oil infrastructure damaged during 1990-91. The AL-SABAH family returned to power in 1991 and established one of the most independent legislatures in the Arab World. The country witnessed the historic election in 2009 of four women to its National Assembly. Amid the 2010-11 uprisings and protests across the Arab world, stateless Arabs, known as bidoon, staged small protests in February and March 2011 demanding citizenship, jobs, and other benefits available to Kuwaiti nationals. Youth activist groups - supported by opposition legislators - rallied repeatedly in 2011 for the prime minister's dismissal amid allegations of widespread government corruption, ultimately prompting the prime minister to resign in late 2011. Demonstrations, following a short lull, renewed in late 2012 in response to an Amiri decree amending the electoral law to reduce the number of votes per person from four to one. The opposition, led by a coalition of Sunni Islamists, tribalists, some liberals, and myriad youth groups, largely boycotted legislative elections in 2012 and 2013, which ushered in a legislature more amenable to the government's agenda. Since coming to power in 2006, the Amir has dissolved the National Assembly on five occasions (the Constitutional Court annulled the Assembly in June 2012 and again in June 2013) and shuffled the cabinet over a dozen times, usually citing political stagnation and gridlock between the legislature and the government.
Source: The CIA World Factbook - Kuwait
Subject descriptor 2014 2015 2016 2017 2018 Gross domestic product, constant prices 0.621 1.136 2.494 2.621 2.627 Gross domestic product, current prices 162.695 114.079 110.455 124.869 134.313 Gross domestic product per capita, current prices 40,688.823 27,756.410 26,145.837 28,756.189 30,092.038 Inflation, average consumer prices 2.941 3.233 3.400 3.800 3.600 Volume of imports of goods and services 7.952 5.095 1.201 4.433 4.134 Volume of exports of goods and services 1.405 0.961 1.976 -0.869 1.619 Unemployment rate 2.072 2.072 2.072 2.072 2.072 Current account balance 54.229 5.970 3.939 10.448 11.806 Current account balance 33.332 5.233 3.566 8.367 8.790
Source: IMF Statistics - Kuwait
Luxembourg and the country
Existing conventions and agreements
Non double taxation agreement
In order to promote international economic and financial relations in the interest of the Grand Duchy of Luxembourg, the Luxembourg government negotiates bilateral agreements for the avoidance of double taxation and prevent fiscal evasion with respect to Taxes on Income and on fortune with third countries.
- Convention from 11.12.2007
- Not yet in force
Air Services agreement
- Agreement from 28.7.1993 (Memorial 1995, A, p. 1592 et seq.)
- Effective as of 26.11.2004
The Statec Foreign Trade statistics provide information on the trade of goods - by product and by country. This information is collected respectively through the INTRASTAT declaration and on the basis of customs documents.
You can see the statistics on the website of the Statec.
Contact point in Kuwait
Attaché Economic and Commercial (B.E.)
Attaché Economic and Commercial with jurisdiction in Kuwait, Bahrain, Qatar: Mr. Sam SERVAES
Bayan, Block 13
Street 4, Villa
P.O. Box 3280 Safat
Phone: +965 2537 6053
Fax: +965 2537 6054
Country risk as defined by Office du Ducroire for Kuwait
Ducroire is the only credit insurer covering open account deals in over 200 countries. A rating on a scale from 1 to 7 shows the intensity of the political risk. Category 1 comprises countries with the lowest political risk and category 7 countries with the highest. Macroeconomics experts also assess the repayment climate for all buyers in a country.
- CIA World factbook on Kuwait
- Le Koweit sur le site de l'Awex
- Doing business in Kuwait
- Arab-Belgian-Luxembourg Chamber of Commerce
- Kuwait Chamber of Commerce
- Economic Freedom Index - Kuwait
The Chamber of Commerce and the country