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Country Information |
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Climate |
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Kuwait enjoys a variable continental
climate with considerable differences in
temperature. The average daily
temperature is 33°C (90°F).
Summer months are between May and
October when the temperature is high,
but humidity is less compared with other
Gulf states.
Annual rainfall is from 25 to 175mm
annually (1 to 7in), falling mostly in
the winter season. Fierce sandstorms may
last several days in winter.
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People |
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There are essentially five
levels of Kuwaiti society: the
ruling family, the old Kuwaiti
merchant families, former
Bedouins who settled in Kuwait,
Arabs from other countries and
foreigners. Arabic is the
official language and 90% of the
population is Muslim.
In per-capita terms, Kuwait has
one of the highest incomes in
the world. Before the Iraqi
invasion in August 1990, less
than 40% of the population were
Kuwaiti and of the work force,
less than 20% were Kuwaiti.
Non-Kuwaitis enjoyed most of the
welfare benefits of Kuwaiti
citizens. The vote, on the other
hand, was restricted to about
65,000 Kuwaiti males descended
from men living in the country
before 1920. |
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The Economy |
The economy of Kuwait is based almost
exclusively on oil; crude oil reserves
are estimated at about 94 billion
barrels - 10% of world reserves.
Petroleum accounts for nearly half of
GDP, 90% of export revenues, and 75% of
government income By law, 10% of all oil
revenues is to be deposited into a
special reserve fund to provide for the
future when oil revenues are exhausted.
Due to the lack of water and arable land
Kuwait couldn't develop agriculture as
an economic activity. About 75% of
potable water must be distilled or
imported.
During the Iraqi occupation (1990-1991),
a great deal of Kuwaiti wealth was taken
to Iraq; the Kuwaiti
government-in-exile, however, retained
control of the country's very
substantial overseas assets. In a move
to stimulate private investment, the
government paid off household debts,
increased government salaries and
compensated for war damage. This
spending plus the costs of the war
reduced Kuwait's overseas assets from
$100 billion in 1990 to $40 billion in
1992. Limited oil exports began a few
months after the liberation.
It was anticipated that pre-invasion oil
production levels would be reached by
the end of 1992. It was also estimated
that it would take two to five years to
restore the country's full export
capacity. Gradually, oil exports started
to get back to normal and higher oil
prices helped reduce the budget deficit
in 1999. However, with the increase in
oil revenues following the restoration
of the country's export capacity, the
government expanded its welfare role in
health, education and municipal services
and public utilities.
According to the "1997 Index of Economic
freedom" of economic liberalization,
Kuwait ranked ahead of Norway, Sweden
France, Spain, Malaysia and Argentina,
to name but a few. It was a clear
indication that Kuwait economy is
considered to be amongst the freer in
the world. |
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Links |
For
more information from EIA on Kuwait,
please see:
EIA - Country Information on Kuwait
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