Middle East Economic Survey


No 34



NBK Says Kuwaiti GDP Recovery On Track After Sharp Fall In 2009

The National Bank of Kuwait (NBK) estimates that Kuwaits nominal GDP fell sharply in 2009 because of large declines in exports and investment. In an 11 August Economic Brief the bank observes: Kuwaits GDP fell 21.2% to KD31.5bn ($107bn) in 2009, the year the world crisis hit full blast. The numbers were in line with our own estimate, therefore we still look for GDP to grow...