Kuwait Industry Articles & Analysis

Chapter | Industry from The Report: Kuwait 2018

As Kuwait tries to curb its dependency on hydrocarbons, which accounted for over 90% of state revenues in 2017, other industries are coming into focus. Excluding refined petroleum products and nuclear fuel, manufacturing industries’ contribution to GDP rose by 6.2% in 2017 to $5.6bn, according to the central bank. Meanwhile, refined petroleum products and nuclear fuel’s portion of GDP expanded by...

As hydrocarbons forms the backbone of Kuwait’s economy, the resurgence in global commodity markets bodes well for the future and has led to a renewed sense of optimism. The recovering market is also supporting the government’s diversification efforts under the auspices of the Kuwait National Development Plan, or New Kuwait.

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As Kuwait tries to curb its dependency on hydrocarbons, which accounted for over 90% of state revenues in 2017, other industries are coming into focus. Excluding refined petroleum products and nuclear fuel, manufacturing industries’ contribution to GDP rose by 6.2% in 2017 to KD1.7bn ($5.6bn), according to the central bank. This figure has...

 

What opportunities exist for the private sector to invest in value-added activities in downstream that enhance steel’s contribution to the economy?

As hydrocarbons forms the backbone of Kuwait’s economy, the resurgence in global commodity markets bodes well for the future and has led to a renewed sense of optimism. The recovering market is also supporting the government’s diversification efforts under the auspices of the Kuwait National Development Plan, or New Kuwait.

A new GCC accreditation for Kuwait’s laboratories, coupled with the release of more than 1000 parcels of industrial land, should boost government plans to increase industrial output by 25% in the coming years.

 

The state-owned oil industry is by far the largest sector in Kuwait’s economy, representing more than half of GDP, 95% of exports and roughly four-fifths of state revenues. As oil and its byproducts are used to make more than 300,000 products globally, the country’s petroleum-based industries and petrochemicals hold significant growth...

 

How can private sector industrial and manufacturing companies help diversify Kuwait’s economy?