From what I understand, Kuwait is one of the major
exporter of Oil. Kuwait has proven crude oil reserves of 104
billion barrels (15 km³),estimated to be 10% of the world's
reserves. and the country’s economy earns the 75% part of
its income from this. Being a tax-free country, Kuwait's oil
industry accounts for 75% of government revenue.
Petroleum and petrochemicals accounts for 43% of GDP
and 90% of export revenues.
Their main imports include wide range of basic necessities
ranging from food products and textiles to machinery.
Hence, they benifit by pegging their exchange rate at a high
level as this earns them more income because their
exports are much more valued than their imports. (In 2011,
estimated exports stood at US$94.47 billion and imports
were around US$22.41 billion)
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