Kuwait's terms of trade adjustment (constant LCU) was -4.52 billion in 2024, the latest year in the World Bank's World Development Indicators. That is down 353.5% from 1.78 billion in 2014.
Key figures
| Value | Year | |
|---|---|---|
| Latest | -4.52 billion | 2024 |
| Five years earlier | -6.09 billion | 2019 |
| Ten years earlier | 1.78 billion | 2014 |
| Highest | 7.08 billion | 2012 |
| Lowest | -12.65 billion | 2016 |
| Average since 2015 | -6.47 billion | 2015–2024 |
| First recorded | 0 |
What the numbers say
In 2024, Kuwait's terms of trade adjustment (constant LCU) fell 1.44 billion on 2023 (from -3.07 billion to -4.52 billion).
Across the 13 yearly changes before that (2011 to 2023), the average change was −236.44 million and a typical year strayed about 5.35 billion from that (the standard deviation). This year's change was 0.2 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
On record, the biggest yearly rise was 6.83 billion in 2021 and the biggest yearly fall was 11.38 billion in 2015. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 the straight-line trend is upward, about 944.95 million a year. A straight line explains 47% of the movement over 10 observed years.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
In 2024, Kuwait had the 25th highest value of the 29 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
Closest to Kuwait in the 2024 ranking
What this measures
The terms of trade adjustment is equal to the capacity to import (current price value of exports of goods and services deflated by the import price index) less exports of goods and services in constant prices. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment varies by country. This series is expressed in local currency units.
All 15 values
| Year | Terms of trade adjustment (constant LCU) |
|---|---|
| 2024 | -4,515,671,730 |
| 2023 | -3,073,668,084 |
| 2022 | 1,209,266,672 |
| 2021 | -4,797,684,027 |
| 2020 | -11,628,153,885 |
| 2019 | -6,094,378,251 |
| 2018 | -5,280,560,266 |
| 2017 | -8,236,595,373 |
| 2016 | -12,650,435,763 |
| 2015 | -9,597,432,195 |
Terms of trade adjustment (constant LCU) in nearby economies
- Algeria — 668.42 billion (2025)
- Bahrain — 538.68 million (2024)
- Djibouti — 60.9 billion (2025)
- Egypt, Arab Rep. — -242.03 billion (2025)
- Iran, Islamic Rep. — -9,327.9 trillion (2025)
- Iraq — -25.43 trillion (2024)
- Israel — 6.56 billion (2025)
- Lebanon — -703.04 billion (2024)
- Libya — -30.15 billion (2025)
- Malta — -25.07 million (2025)
More economic policy & debt data for Kuwait
- Total reserves, including gold (current US$) — US$51.74 billion (2025)
- Total reserves, excluding gold (current US$) — US$40.65 billion (2025)
- GDP (current US$) — US$157.21 billion (2025)
- GDP (current LCU) — 48.18 billion (2025)
- GDP per capita (current US$) — US$32,312 (2025)
- GDP per capita (current LCU) — 9,902 (2025)
- GNI (current US$) — US$193.99 billion (2024)
- GNI (current LCU) — 59.49 billion (2024)
- GNI per capita (current LCU) — 12,148 (2024)
- General government final consumption expenditure (current US$) — US$41.5 billion (2024)
Reading data like this
Questions people ask
- What is Kuwait's terms of trade adjustment (constant LCU)?
- -4.52 billion in 2024, according to the World Bank (World Development Indicators).
- How does Kuwait rank?
- 25th highest of 29 economies with data for 2024.
- Is the latest change in terms of trade adjustment (constant LCU) unusual for Kuwait?
- In 2024, Kuwait's terms of trade adjustment (constant LCU) fell 1.44 billion on 2023 (from -3.07 billion to -4.52 billion). Across the 13 yearly changes before that (2011 to 2023), the average change was −236.44 million and a typical year strayed about 5.35 billion from that (the standard deviation). This year's change was 0.2 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
- Where does this data come from?
- The World Bank's World Development Indicators, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, World Bank (WB).
Source
World Bank, World Development Indicators, indicator NY.TTF.GNFS.KN, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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