Kuwait: Merchandise trade (% of GDP)
In , Kuwait's Merchandise trade (% of GDP) was 70.56.
That's down 3.9% from 2023, the highest value since .
The global average for this indicator in 2024 was 64.89 . Kuwait ranks #61 globally out of 197 reporting countries. Within Middle East, North Africa, Afghanistan & Pakistan, it ranks #10 of 22.
Source: World Bank Open Data (TG.VAL.TOTL.GD.ZS) • Data as of 2024
Trend (2005–2024)
- 2008 · Global financial crisis
- 2020 · COVID-19 pandemic
- 2014 · Oil price collapse
- 2022 · Russia–Ukraine war begins
Highlights
- Peak
- 83.98
- Trough
- 61.10
- 1-year change
- -3.9%
- 5-year change
- +1.4%
- +0.3% / yr
- 10-year change
- -13.8%
- -1.5% / yr
Historical Data — Last 10 Years
| Year | Merchandise trade (% of GDP) |
|---|---|
| 70.5598 | |
| 73.4477 | |
| 73.3251 | |
| 64.0489 | |
| 61.1047 | |
| 69.6149 | |
| 77.7532 | |
| 73.4028 | |
| 70.4692 | |
| 74.2546 |
About Merchandise trade (% of GDP)
General merchandise trade includes goods whose economic ownership is changed between a resident and a non-resident and that are not included in the following specific categories: goods under merchanting, non-monetary gold, and parts of travel, construction, and government goods and services n.i.e. It is the total of merchandise exports plus merchandise imports. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.
Indicator code: TG.VAL.TOTL.GD.ZS • Category: Trade & Finance
Frequently asked questions
- What was Kuwait's Merchandise trade (% of GDP) in 2024?
- In 2024, Kuwait's Merchandise trade (% of GDP) was 70.56, according to World Bank Open Data.
- Is Kuwait's Merchandise trade (% of GDP) rising or falling?
- Kuwait's Merchandise trade (% of GDP) fell 3.9% from 2023 to 2024.
- How does Kuwait rank globally on Merchandise trade (% of GDP)?
- In 2024, Kuwait ranked #61 out of 197 countries reporting Merchandise trade (% of GDP).
- How does Kuwait's Merchandise trade (% of GDP) compare to the world average?
- The global average for Merchandise trade (% of GDP) in 2024 was 64.89, so Kuwait is above the world average. Within Middle East, North Africa, Afghanistan & Pakistan, it ranks #10 of 22.
- What is Merchandise trade (% of GDP) and how is it measured?
- General merchandise trade includes goods whose economic ownership is changed between a resident and a non-resident and that are not included in the following specific categories: goods under merchanting, non-monetary gold, and parts of travel, construction, and government goods and services n.i.e. It is the total of merchandise exports plus merchandise imports. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.
Source: World Bank Open Data (TG.VAL.TOTL.GD.ZS), CC BY 4.0.