In 2009, lower oil prices and the global downturn saw nominal gross domestic product (GDP) slump by nearly 21.2 percent to KD31.5bn ($109.57bn), NBK said. Kuwait, which controls around a tenth of global oil wealth and is the fifth largest economy in the region, is expected to enjoy a rebound in GDP of around eighteen percent, the study added.
The sectors forecast to see the greatest growth are banking and transportation. The transport sector has doubled in size and now represents eight percent of GDP, while the financial sector has grown to fourteen percent, up from six percent a few years ago.
Dubai Banking
The sectors forecast to see the greatest growth are banking and transportation. The transport sector has doubled in size and now represents eight percent of GDP, while the financial sector has grown to fourteen percent, up from six percent a few years ago.
Dubai Banking
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