Lucintelís Analysis: Hydrocarbons-Reliant Kuwait to Offer Growth Opportunities in Non-Hydrocarbon and Service Sector
Irving, TX, September 05, 2013 --(PR.com
)-- Kuwait’s economy is likely to grow at a much faster rate than the global GDP over the next five years and reach an estimated $201.3 billion at the current price by 2018. Oil and natural gas is the leading industry in Kuwait and contributes approximately 59% to the total GDP of the country.
Lucintel, a leading global management consulting and market research firm, performed a Political, Economic, Sociological, Technological, Legal, and Environmental (PESTLE) analysis of Kuwait and presents its findings in “PESTLE Analysis of Kuwait 2013.”
Lucintel's report indicates the strong and weak points of the Kuwait economy.The country is termed to be one of the fast growing economies in the Middle East. The economy is highly dependent on the hydrocarbon sector for the country’s export revenues. The economy possesses the world’s fifth largest oil reserves and is the fourth largest exporter of oil in the world. The industrial sector is the fastest growing sector of the Kuwait economy which makes significant contribution to GDP. Mining and quarrying, financial services, and retail and manufacturing are the leading industries in the economy. Oil and gas reserves and high per capita income are the driving factors for these sectors.
Kuwait’s overly hydrocarbon-reliant economy makes growth rates highly volatile and prone to speculations. There are chances that oil prices might decline. To conserve its hydrocarbon reserves, the Kuwait economy has imposed a moratorium on new hydrocarbon projects. The economy is also concentrating on diversifying its base by shifting its focus on the non-hydrocarbon sector and the service sector which will offer immense opportunities for growth. The government of Kuwait is also emphasizing on increasing their spending on R&D for developing new technologies for different industries. The government has planned to spend huge sums on infrastructure by 2014.
This report helps investors to easily understand the strengths, weaknesses, opportunities, and threats of Kuwait’s economy. This report analyzes the impact of different macroeconomic indicators of the country on different industries. Domestic and external economic trends, government policies, technological changes, and their impact on different industries have also been analysed in the report.
For a detailed table of contents and pricing information on these timely, insightful reports, contact Lucintel at +1-972-636-5056 or via email at firstname.lastname@example.org. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, and cost efficiency. Lucintel offers a broad range of Industry Research Reports, Market Research Reports and Management Consulting services.
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