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Export Market

Kuwait

ISO: KW / KWT

Country Profile

Capital Kuwait City
Population 4.9M
GDP $160.2B (2024)
GDP per Capita $32,718
Income Level High Income
Currency Kuwaiti dinar (KWD د.ك)
Language Arabic
Timezone UTC+03:00
Region Asia · Western Asia

Trade Partners

Kuwait Exports To

  • China 25.0%
  • India 13.0%
  • Japan 13.0%
  • Taiwan 7.0%
  • UK 5.0%

Key exports: crude petroleum, refined petroleum, natural gas, hydrocarbons, plastics (2023)

Kuwait Imports From

  • China 18.0%
  • UAE 10.0%
  • USA 9.0%
  • Saudi Arabia 6.0%
  • Japan 6.0%

Key imports: cars, natural gas, garments, broadcasting equipment, packaged medicine (2023)

Economic Overview

small, high-income, oil-based Middle East economy; renewable energy proponent; regional finance and investment leader; maintains oldest sovereign wealth fund; emerging space and tourism industries; mid-way through 25-year development program

Government: constitutional monarchy (emirate)

UK Trade Status

No FTA

There is currently no free trade agreement between the UK and Kuwait. Standard WTO terms apply.

Trade Barriers

2 active barriers affecting UK exporters

Restrictions on Retail Banking

International banks can have more than one office in Kuwait to support commercial operations, however the existing regulations do not allow the banks to conduct retail banking operations.

Sectors: Financial and professional services

Reported: 30 Dec 2019

5% tax retention for UK businesses in Kuwait

There are differing interpretations of the implications of the UK-Kuwait Double Taxation Agreement, in particular the 5% tax held for services that are longer than six months.

Sectors: Financial and professional services

Reported: 7 Apr 2019

Geographic Region

Middle East, Afghanistan and Pakistan

Trading Bloc Memberships

Kuwait is a member of the following trade agreements and economic blocs.

GCC Gulf Cooperation Council Economic Union

Export Guidance

Relevant guidance for exporting to Kuwait.

Start Your Export Journey

Export to the EU after Brexit Start exporting from the UK Manage your export compliance

Also in This Region

🇦🇫 Afghanistan 🇧🇭 Bahrain 🇮🇷 Iran 🇮🇶 Iraq 🇮🇱 Israel FTA 🇯🇴 Jordan FTA 🇱🇧 Lebanon FTA 🇴🇲 Oman

Official Resources

Government export support for Kuwait.

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