Economy of Kuwait

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When it comes to the economic problems that are being experienced in Kuwait, it seems that they are not much different from many of the economic problems experienced by other developing countries in the Middle East. What is perhaps the most troubling fact is that while it is true that Kuwait had its economic and political problems before the war, it was a country that was beginning to emerge as a world power. In many respects, the Gulf War and its aftermath has set back this progress by several years.

Elements of the economy of Kuwait are, as of 2013:

• $42,100 GDP per capita
• Services are 49.1% of GDP
• Industry is 50.6% of GDP
• Industries are petroleum, cement, shipbuilding, construction materials
• $112 Billion in Exports

Economy in Kuwait and Kuwait's Identity

Kuwait was a country that was struggling to realize its own identity. Mired in problems with Iran from the aftermath of the Iran-Iraq war, prewar Kuwait was looking to improve equality and justice within its own state while maintaining friendly relations with both of it neighbors, Iran and Iraq. Struggling to establish a democracy and fighting the numerous social ills that had befallen the country Kuwait was attempting to build internal infrastructure that would enable it to grow and prosper throughout the new millennium. In many respects, the Gulf War could not have happened at a more inappropriate time for this developing nation.

Kuwait;s Recovering Economy

While there are signs that Kuwait is recovering in the aftermath of the war the reality is that the country has received a substantial blow. Although the Gulf War was a victory for the Allies and Kuwait was liberated, one wonders, and what expense; Kuwait is mired in debt, politically threatened by its neighbors and its citizenry is living amidst poverty, unemployment, and civil unrest. Only time will tell how this country will heal from the wounds inflicted by the Gulf War.