GDP (annual) in Kuwait

Gross Domestic Product (GDP) measures the value of all final goods and services produced in Kuwait and is the broadest gauge of the size and pace of its economy. It is published by the Central Statistical Bureau (CSB) and is heavily shaped by the hydrocarbons sector.

It is compiled through the demand, output and income approaches, which must reconcile. It is released in real terms as an annual rate of change, usually splitting oil GDP from non-oil GDP.

It is the main reference for judging the health of Kuwait's cycle; the non-oil component signals progress on diversification, while the oil component hinges on crude output and prices and on OPEC quotas. It shapes public spending, which is largely funded by oil revenues.

It is released with a marked lag and early estimates are later revised. Heavy reliance on crude makes the headline figure very volatile and a poor guide to the underlying pulse of the economy.