KUWAIT

 

Kuwait’s GDP Surges 29% In 2011, NBK Says

Kuwait’s nominal GDP in 2011 rose by 29% to KD44.4bn ($157.2bn) from KD34.4bn ($121.8bn) in 2010, according to preliminary estimates by National Bank of Kuwait in its Kuwait Economic Brief of 14 August. The steep rise in GDP was attributed to a 47% surge in the oil GDP to a record KD28.7bn ($101.6bn) on the back of record high oil prices. NBK notes that this pushed the oil sector’s...