Kuwait is one of the world’s valuableest countries per capita. Its initial prosperity was founded almost completely on oil reserves, which, at an around 98 billion barrels, is roughly one-tenth of the world’s total. Over time, Kuwait used oil earnings to make large investments abroad. By 1990 the nation earned more from foreign investment than from oil exports. The expenses of the Iraqi invasion and postwar reconstruction placed a heavy economic burden on the nation, but by the mid-1990s Kuwait had resumed its preinvasion prosperity. Gross domestic product (GDP) for 1999 was $29.6 billion, giving Kuwait a per capita GDP of $15,370. The labor force totals 763,987 people, only about one-quarter of whom are Kuwaiti citizens.

Kuwait has a developing mixed government-owned and private-enterprise economy. The gross national product (GNP) is not growing as rapidly as the population, but the GNP per capita is nevertheless one of the highest in the world. The gross domestic product (GDP) originates primarily from crude petroleum and natural-gas production and refining.Agriculture in Kuwait is a marginal economic activity and contributes little to the GDP. The little arable land is irrigated from recycled wastewater or brackish groundwater to grow garden produce and farm animal feed. Pastures cover less than one-twelfth of the total land area; principal farm animal are sheep, goats, and cattle.

Kuwait is a small, comparatively open economy with proved crude oil reserves of about 94 billion barrels - 10% of world reserves. Petroleum accounts for nearly half of GDP, 90% of export revenues, and 75% of government income. Kuwait's climate limits agricultural development. accordingly, with the exception of fish, it depends almost wholly on food imports. About 75% of potable water must be distilled or imported. Higher oil prices put the FY99/00 budget into a $2 billion surplus. The FY00/01 budget covers only nine months because of a change in the fiscal year. The budget for FY01/02, which begins 1 April, contains higher expenditures for salaries, construction, and other general categories. Kuwait continues its discussions with foreign oil companies to develop fields in the northern part of the nation.