The reign of Kuwait is a small country (17.800 square km) compressed between Iraq and Saudi Arab, with 2.6 million citizens, 40% of which immigrated in recent years, attracted from labor availability. The country was part of British Empire until the independence found in the 1961 and is a constitutional monarchy.
The Kuwait crude oil reserves are about 7% of world reserves. Petroleum accounts for nearly half of GDP, 95% of export revenues, and 95% of government income. While others countries of the area are committed to diversify economy since years, Kuwait hesitated before putting in place a plan in this direction and remains strongly influenced by crude oil international price oscillations.
However, in 2010, the Kuwait Government introduced a five years industrial plan that pledges to spend up to $130 billion to diversify the economy away from oil, attract more investment, and boost private sector participation in the economy.
In the 2011, the Kuwait GDP was at US$ 150 billion, the world's 60th, growing 5.7%, up 2.3 points from previous year. The pro capita revenue was $ 40.700, but revenues are heavily concentrated in few families. Unemployment rate was at 2.2% and the country is attracting labor force from all the South Asian area.
In Kuwait the car market is booming as in all the Arabic Gulf area. Following records posted in 2010 and 2011, the 2012 phenomenal growth was 35.4%, pushing the market up in the world's ranking, landing in 46th place.
The Kuwait car market posted in November the 8th year-on-year increase in a row, growing 43.0% and achieving the new all-time record volume. Year-to-date sales were up 36.5%. Toyota further improved the share with the Prado at 12% of share.
In September, the Kuwait car market posted the 6th year-on-year increase in a row, growing 27% from last. Year-to-date sales were up 39.4%. Both the Koreans Hyundai and Kia were growing share in the last month.
Kuwait's car sales were 12.108 in May 2012, posting a 35% increase from last year, confirming April performance after that March declined year-on-year. Year to date 2012 sales at 57.505 were up 21.1%. Toyota was recovering.