Kuwait has an open economy with proven crude oil reserves of about 96 billion barrels (15 km³), i.e. about 10% of world reserves.

Petroleum accounts for nearly half of GDP, 90% of export revenues, and 5% of government income.

Export of oil marked the beginning of the new era in which oil sector began to play a key role in the growth of National economy.

Kuwait has limited arable land, which limits the agricultural development. Fisheries serves as the major food source locally available. Kuwait is a great importer of food imports.

About 75% of potable water must be distilled or imported.

Industry plays an important role in economic development in Kuwait as it supplies goods and services to the nation.

The government is playing an important role in encouraging the expansion of industry by giving loans, providing infrastructure facilities and by supporting the newly established industries.