The industrial sectors such as mining and quarrying and hydrocarbons manufacturing such as fertilizers have experienced high expansion. The leading economic sectors that contribute to the GDP include oil and gas industry, business services, financial sector, manufacturing, real estate and transport sectors (Mongabay.com, ).
The leading exports are oil, gas and fertilizers to countries such as United States of America, EU, China, Japan and India. The leading imports include food, cars, construction materials and clothing from countries like Saudi Arabia, Germany, China, United Arab Emirates and Germany.
Kuwait has maintained a positive balance of payments due to an impressive inflow of foreign direct investments. The exchange rate is 0.2479 Kuwaiti dinars (KD) per US dollar and balance of payments is approximately 90.78 billion. However, the county has a 6.8 percent public debt and yield of its one-year bonds has declined to about 1.25 percent thus leading to an AA credit rating. Foreign exchange reserves stand at $ 26 billion and inflation rates are at less than 5 percent. Kuwait has an estimated population of 3.2 million people including the non-citizens. The welfare and salaries are high and citizens have favorable attitudes towards work. Legal, Economic Environment and Activities.
Central Intelligence Agency. (2014). ‘Middle East: Kuwait’, (web). Retrieved on 27th may, 2014 from https://www.cia.gov/library/publications/the-world-factbook/geos/ku.html.
Mongabay.com. (2014). ‘Kuwait-ruling family-political system’, (web) Retrieved on 27th May, 2014 from http://www.mongabay.com/history/kuwait/kuwait- ruling_family_kuwaitpolitical_system.html.
The Hofstede Centre. (2014). ‘What about Kuwait’ Retrieved on 27th May, 2014 from http://geert-hofstede.com/kuwait.html.
Casey, Michael. The history of Kuwait. Cheltenham: Ashgate. 2007.
O’Shea, Maria and Spilling, Michael. Kuwait. New York: Routledge. 2010.
UN Data. (2014). ‘Kuwait’, (web). Retrieved on 27th may, 2014 from http://data.un.org/CountryProfile.aspx?crName=KUWAIT.
Please type your essay title, choose your document type, enter your email and we send you essay samples