Kuwait

After an important increase in 2004, the activity slowdowned in 2005 : annual GDP growth rate was 6.3% in 2004 and 5.6% in 2005. It is estimated at 5.3% in 2006.
The Kuwaiti economy heavily relies on oil sector which contributed to 50% of the GDP and 95% of budget resources. Actually, Kuwait holds 10% of world-wide oil resources and is the world's thirteenth largest oil producer with a daily production of 2 million barrels. Besides oil, the country has two major sources of income, which are the payment of war damages by Iraq and overseas financial investments revenues.

Agriculture activity is very reduced in Kuwait, due to particularly harsh climatic conditions. Agriculture only amounts to 1% of the GDP. The industrial activity is dominated by hydrocarbons sector. The State holds monopoly over oil exploitation through the Kuwait Oil Company (KOC). The government wishes to stimulate foreign direct investments (FDI) : foreigners are allowed to hold 100% of a company's capital and can enjoy attractive tax benefits. The State particularly encourages FDIs in petrochemical, infrastructure, high technology and financial sectors.

The three main export partners are Japan, United-States and the Netherlands. Hydrocarbons represent 90% of the country's total exports.
The Kuwaiti market offers numerous oportunities. 90% of consumer goods are imported, especially food products, capital and transport goods, and manufactured products.Kuwait's first three import countries are the United States, Germany and Japan.

Population

Main Cities Population Al Kuwait   1,500,000   Al-Ahmadi   Nc   Subaya   Nc   Total population (millions): 2.5 Source: World Bank 2004   Urban population: 96% Source: World Bank 2004   Average annual population growth: 2.6% Source: World Bank 2004   Surface area (km²) : 17,820   Population origin Origin of the population % Of the population Koweit 45 Other Arabian 35 Asian (South) 8.9 Iranian 3.8 Other 7.6 Languages Official language: Arabic. English is considered as the second language, and it is used for business.   Free translation tools in Kuwait : Arjeeb Free English-Arabic-English translation of texts and web pages Ectaco Free Arabic-English-Arabic dictionary Religion Religious practises : Sunni Muslims 45% Shiite Muslims 29% Christians 8% Hinduists 2% Others 16%. Political system The Emirat of Koweit is an Islamic monarchy. Since 1899, it was a British protectorate and became independent in 1961. The country established a constitution in 1962. The legislative power is held by the Assembly, composed of 50 members, elected for 4 years. Capital: Koweit City Head of State: Emir Cheikh Jaber III Al-Jaber al-Sabah, since December 31st of 1977. Prime Minister and inheritant Prince: Cheikh Saad al Abdallah al Salem al Sabah, since the 8th of February 1978. Climate   Tourism Number of visitors in Kuwait 2002 2003 2004 World rank Number of visitors (1000) 96   94   91   n.a. Source : World Tourisme Organization, data available in November 2005   Tourist sites Koweit city is modern (the biggest towers are Kuwait Towers). You can visit: -The National Museum: located in the Arabian Gulf Street, the museum is composed of four buildings plus one planetarium. Looted and burned during the Iraqi invasion, the museum lost its magnificence and particularly the richness of its collection, which was one of the most representative of the Arabic world, but still, it is still worth visiting. -Sadu House: built around 1840, this house is not only a permanent exhibition of the traditional bedouin weaving, but also a way of preserving this ancient know-how. The building in itself is worth the glance since it is a perfect example of the pre-oil producing era type of construction. -Tareq Rajab museum: the museum houses a great collection of ceramic and metal objects, manuscripts, textiles, traditional costumes as well as the oldest collection of silver jewels publicly exhibited in the Arabic and Islamic world. - Ramparts and city gates: the ramparts were built in 1922 by the Sheik Salim al-Mubarak in order to keep the nomad tribes outside the city. Although severely damaged in the 1950's, parts of the ramparts and doors remain strewed through the city, notably around First Ring Road. For more information about tourism in Kuwait , check out the following web site(s) : Information portal on tourism in Kuwait