Kuwait is a petroleum-based economy, petroleum is the main export product. The Kuwaiti dinar is the highest-valued unit of currency in the world. According to the World Bank, Kuwait is the seventh richest country in the world per capita. Kuwait is the third richest GCC country per capita (after Qatar and UAE).
Petroleum accounts for half of GDP and 90% of government income. Non-petroleum industries include financial services, infrastructure, regional development project, and real estate.
Kuwait is Taiwan's 24th largest trading partner. The trade volume in 2023 between the two countries reached 4.85 billion US dollars. Kuwait import from Taiwan reached last year totally $157.62 million, and Taiwan import from Kuwait reached $4.69 billion.
Taiwan imports great amount barrels of crude oil and other petrochemical products from Kuwait yearly. Other major export items are auto parts, plastic materials, construction materials, food processing products, ICT products, and textile products.
