Examination of the structure of the Kuwaiti economy and its response to the fluctuating oil prices

Kuwaiti economy depends on similar natural resources and has a comparable structural base. Its economy depends entirely on the production of oil, and all economic sectors revolve around revenues generated by oil exports. Kuwait also shares the same socio-political system where the states, rules by kings and princes, own most of the natural resources and the large public sector dominates all aspects of the economy. This paper is divided into four sections. Section one gives information about composition of Kuwaiti population; labor force, and social indicators. Section two examines the impact of Kuwaiti oil. Section three examines Kuwaiti foreign trade and its balance of payments. Finally, Section four summarizes the main conclusions.