Kuwait is a small country (17,818 square kilometers) and is located at the Northwest corner of the Arabian Gulf, bordering Saudi Arabia and Iraq. Kuwait’s 4,1 Mio inhabitants (estimate GTAI 2014) consist of 31,3% Kuwaitis, 37,8% South Asians, 27,9% Arabs, 1,9% Africans and 1,1% Western expats. Besides Arabic, English is the most important business language.
Kuwait is a constitutional monarchy and has the oldest directly elected parliament among the Arab states of the Persian/Arabian Gulf. Amir Sabah al-Ahmad al Jabir al Sabah (since 29 January 2006) and the Crown Prince Nawaf al-Ahmad al-Jabir al Sabah are chief of State.
Since the development of the petroleum industry after World War ll and independence in 1961, oil has dominated the economy making up around 90% of export revenues. In fact the oil sector makes 50 % of the GDP. However there are strategies to expand the private sector. Other important sectors are services, finances and estates. 2014 Kuwait had a GDP of 42,119 US Dollar (estimate GTAI).
The country has a higher export rate than import rate. They exported goods in 2013 in an amount of 101,124m US$ and imported in the amount of 31,554m US$. They import goods especially from China, USA, UAE, Japan and Germany. Important export partners are Japan, India, South Korea, China and the USA. Imports from Germany are for example moto vehicles and parts (32,6 %), machines (15,2%), chemical products (10,3%) or food products (3,3%) (GTAI 2013).