« 이전계속 »
LIBRARY OF THE UNIVERSITY OF CALIFORNLIX- LIBRARY OF THE UNIVERSITY OF CALIFORNIA HIERANY OF THE UNIVERSITY OF CALIFORNIA - LIBRARY OF THE
OF THE UNIVERSITY OF CALIFORNIA - LIBRARY OF THE UNIVERSITY OF CALIFORNIA · LIBRARY OF THIS
LIBRARY OF THE UNIVERSITY OF CALIFORNIA LIBRABY OF THE UNIVERSITY
UNIVERSITY OF CALIFORNIA
UNIVERSITY OF CAL
UNIVERSITY OF CALIFORNIA - LIBRARY OF THE UNIVERSITY OF CALIFORNIK.HR
Imports.-$831.0 million (10 months 1973); $886.2 million 1972. Leading suppliers (1972) Japan, 16%; U.S., 14%; U.K., 10%. Major imports: vehicles, textiles and clothing, electrical machinery and appliances, iron and steel, cigarettes, and foodstuffs. Exports.-FY ending March 1973, approximately $3 billion, of which 96 percent crude and refined petroleum. Oil export 1,074 million barrels. Major oil markets: Italy, Japan, U.K., France. Other domestic exports (about $53 million), principally chemical fertilizer, building materials and shrimp, and reexports (about $125 million) go mainly to neighboring countries. Trade Policy.—Liberal. Most items duty exempt or assessed 4 percent ad valorem. A few assessed 10 or 15% ad valorem. No exchange controls on imports. Commercial importing restricted to Kuwaiti nationals and firms. Trade Prospects.-Construction and oil industry equipment, special machinery for new industries, water treatment equipment, medical supplies, consumer durables, foodstuffs, cigarettes, and consulting services.
Minerals.-One of world's largest known oil reserves. Production about 3 million barrels per day. 90% of production from Kuwait proper, mainly by Kuwait Oil Company (owned half each by Gulf and British Petroleum). Neutral Zone production shared jointly with Saudi Arabia. Total capacity 3 refineries about 500,000 barrels per day. Industry.-Non-oil industries include fertilizers, fisheries, building materials, and chemicals. Water desalination capacity 52 million imperial gallons per day. Development Program.—No formal development plan in effect. Development expenditure in FY 73-74 budget allocated (million dollars): public works, 168; electricity and water, 111; posts, telegraph and telephones, 23; other, 5.
Basic Economic Facilities
Chiefly in oil. U.S. interest large in two producing companies. Investment Prospects.-Investment welcomed, but limited to minority participation in industrial and commercial concerns. Law prohibits foreign ownership of financial institutions.
Transportation.—About 700 miles paved roads; over 150,000 registered vehicles. General cargo ports at Shuwaikh, one mile west of Kuwait City, rated annual capacity 1.5 million metric tons, and Shuaiba, capacity 900,000 tons. Oil port (KOC) at Mina-al-Ahmadi, south of Kuwait City, accomodates new giant tankers (326,000 DWT); smaller oil port at Mina Abdulla. International airport served by nine international carriers. Kuwait Airways, Government-owned, operates in area. Communications.-Radio (AM and FM) and TV Government-owned. Radio broadcast over 120 hours weekly; TV broadcast 54 hours weekly. Telephone services. International links available. Satellite ground station in operation. Power.-Production 3,295 million kwh in 1972, 581 billion cubic feet natural gas produced 1972; 227 billion utilized for industrial purposes, remainder flared.
Currency.-Kuwaiti dinar (KD) equals US$3.38. Money supply January 1974 $502 million. Domestic Credit and Investment.-Five commercial banks. Savings and Credit Bank and two investment companies comprise rest of banking system. Central Bank commenced operations April 1969. About two-fifths of GNP saved; 40% invested in Kuwait, 60 percent abroad. National Budget.—1973–74 (FY ending March 31): revenues $2.1 billion (86% oil revenue); expenditures $1.5 billion (25% allocated for development and land acquisition). Substantial proportion of revenues being put into State reserve. Balance of Payments.-Consistent surplus due largely to oil income. Net official and banking foreign assets January 1974, $4.3 billion.
Land.—6,200 square miles. December 1969 agreement with Saudi Arabia partitioned 2,500 square mile Neutral Zone south of Kuwait in approximately two equal halves. Flat, rolling desert. Climate.-Intensely hot in summer; milder climate November to April. Average rainfall less than 4 inches annually. Fisheries.—Plentiful supply in territorial waters. Shrimping an important industry.
GNP.-Estimated at $4.2 billion end of FY 1972–73 (over $4,000 per capita); over half derived from petroleum sector, about one-third from government expenditures. Agriculture.-Nil; only 1% of land cultivated.
Size.-Estimated 850,000, more than half nationals of foreign (most Arab) countries. Language.-Arabic; English widely spoken. Education and Health.-Almost 140,000 in schools; 8 years compulsory. Kuwait University opened 1967. Literacy rate 50 percent. The government provides free education and medical services to its nationals. Labor.–Three-fourths of jobs held by non-Kuwaitis.
Japan has steadily improved its market posi-
Sectors-Government Role in the Economy
ing and Labeling
Distribution Practices Wholesale and Re.
Marketing Trends – Franchising and Licens.
fices Government Procurement
Facilities and Shipping Road Transport
Airlines - Utilities - Natural Gas
Investment in Kuwait
erty Protection Taxation - Labor
Kuwait Government Representation Trade
Owing to large increases in the posted price of
and $11 billion annually in future years, depend-
with the most ambitious of development pro-
tic qualitative and quantitative changes in the
the improvement and expansion of the country's
Table 1.-U.S. Trade with Kuwait, 1971–73
(In thousands of dollars)
83,763 111,262 119,235 83,173 108,140 117,107 4,813 4,338 7,403
236 104 241 1,693 1,359 2,351 938 881 1,640 527 217 256
228 538 799 1,443 247 320 522
67 77 109 447 392 953 5,384 8,509 11,610 5,321 8,402 11,537
84 321 479 772 863 408 535 264 353
194 252 284 32,485 46,932 38,089
Meat, fresh, chilled frozen ..
Rice, rough, brown, milled
Preparations of cereal, flour, starch, etc.
Lubricating oils and greases ...
Chemical products and materials, n.e.e.. Manufactured goods by chief material
Rubber manufactures-finished, n.e.c.
Textile fabric woven, except cotton.
Made-up textile articles
Iron tubes, pipes, and fittings
19,589 21,141 31,234
Commodity Office machines and parts Metalworking machinery Construction and mining machinery,
n.e.e. and parts Heating and cooling machinery and
equipment and parts . Pumps, centrifuges, etc. and parts Mechanical handling machinery and
equipment and parts Electric power machinery, switch
gear and parts Telcom, equipment, n.e.c. Electric household equipment and
appl. and pts. Electric ignition equipment—int.
comb. eng..... Electric measuring and controlling
all fuels ......
and acces. n.e.e.
fabric art. etc.
Photographic and cinematographic
Scientific, optical, etc. apparatus
ete. Printed matter Articles of artificial plastics,
n.e.e.. Baby carriages, toys, sports goods,
etc. Office and stationery supplies,
General Imports—total. Shellfish, except prepared
Manufactures of metal, n.e.c.
Structures and parts
Tools for use in hand, machines
Steam-generating, power boilers,
590 3,122 2,128 36,092 49,034 64,943
or canned .....
Petroleum, crude and partly
refined Petroleum products
Jet fuel and kerosene
Pitch asphalt, etc.
by kind ..... Other imports.
Int. comb. engines, excl. air
craft and pts. Agricultural machinery.
Source: U.S. Department of Commerce, Bureau of the Census
Best Export Prospects
The major opportunities for American companies will be in the export of technology and in design, construction, equipment supply, and management of the many large public works and industrial projects to be undertaken. Some $3.5
billion in petroleum related and petrochemical projects and basic metal industries have been identified as likely to be implemented over the next several years. Additional tens of millions of dollars will be spent to expand existing industries and develop new industrial enterprises in a variety of fields. These project developments