Kuwait's Ranking Drops Among Richest Countries by per Capita GDP

Kuwait's ranking has dropped among the richest countries in the world in regard to per capita Gross Domestic Product (GDP).

The country's ranking dropped in terms of purchasing power as it now ranks 36th out of 193 countries in the world, compared to the 31st position in 2022's rankings.

According to the World Economic Outlook of April 2023 issued by the International Monetary Fund (IMF), the parity of per capita GDP with purchasing power in Kuwait increased from $51,000 in 2022 to $53,000 in the new classification.

Among other Gulf countries, Qatar ranked 4th among the richest countries in the world and the UAE ranked 6th, however, Oman ranked 50th in the world.