ECONOMIC COMPLEXITY INDEX PLACES KUWAIT AS 86TH IN WORLD

  • 04/09/2022

Kuwait City: Kuwait ranked 86th globally in terms of economic complexity according to the Economic Complexity Index (ECI). The index did reveal that the country's economy has become less complex than it was ten years ago. Saudi Arabia was ranked 42 globally, Bahrain 56 globally, Qatar 71 globally, Oman 79 globally, and the UAE 99 globally. 


The Economic Complexity Index measures the volume of information on a nation's production capabilities as well as the extent of its productive knowledge. Additionally, it considers the volume of exports and compares it to the diversity and development of other exporting nations.

The index demonstrates that the complexity of the Kuwaiti economy persists despite the country's exports becoming more diverse, which has had an impact on less complex products. With the knowledge it currently possesses, it thinks Kuwait has few opportunities to diversify its production. Kuwait is less complex than would be expected for a nation with its level of income, according to the index, and as a result, its economy is forecast to grow slowly. 

Kuwait will grow by about 0.7 percent annually over the following ten years, which puts it in the lower half of the world's countries in terms of growth, according to the Growth Lab's projections for 2030. Kuwait is a high-income nation, according to the Harvard Kennedy School's "Atlas of Economic Complexity," which ranks it as the 27th richest economy by population out of the 133 nations it examines.

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