Kuwait ranks 30th in GDP per capita, according to Harvard study

A Harvard University study ranked Kuwait 30th out of 145 countries in GDP per capita, recording $31,971 nominally and $51,322 adjusted for purchasing power parity under 2024 standards.

The Atlas of Economic Complexity Ranking indicates Kuwait's persistent economic sustainability, underpinned by oil revenues and an increasingly robust financial sector.

Kuwaiti Prime Minister Sheikh Ahmed Abdullah Al-Ahmed Al-Sabah credited government financial reforms for the rising health of the banking and investment sectors, with Kuwait returning to international debt markets through a historic $11.25bn sovereign bond issuance.

Meanwhile, Moody's projected nearly 6% credit growth for Kuwait's banking sector in 2026, citing strong corporate loan demand and government infrastructure spending. The stable outlook is attributed to Kuwait's robust banking fundamentals amid regional pressures. Non-performing loans are expected to stabilise at 1.7% of total portfolios through 2026, supported by favourable operating conditions and strong provisioning at 219% of NPLs as of September 2025.

Leading banking institution Warba Bank reported a 122% annual increase in net profits for 2025, reaching KWD 50mn ($162.68mn). 

Kuwait’s aviation sector also appears poised for growth, with the low-cost Jazeera Airways posting record net profits of KWD 21.8mn for the same fiscal year.

Kuwait's trade position remains solid, with product exports reaching $61.9bn in 2024, generating a surplus against $61.2bn in imports. Non-oil exports grew at 3.6% annually over the past five years, exceeding the global average growth rate, though overall export values declined at an average annual rate of 3.3% during the same period, Alrai Media noted.