chief of mission: Ambassador SALIM al-Abdallah al-Jabir al-Sabah chancery: 2940 Tilden Street NW, Washington, DC 20008 telephone: [1] (202) 966-0702 FAX: [1] (202) 966-0517
Diplomatic representation from the US:
chief of mission: Ambassador Deborah K. JONES embassy: Bayan 36302, Block 13, Al-Masjed Al-Aqsa Street (near the Bayan palace), Kuwait City mailing address: P. O. Box 77 Safat 13001 Kuwait; or PSC 1280 APO AE 09880-9000 telephone: [965] 259-1001 FAX: [965] 538-0282
Flag description:
three equal horizontal bands of green (top), white, and red with a black trapezoid based on the hoist side; design, which dates to 1961, based on the Arab revolt flag of World War I
Economy
Kuwait
Economy - overview:
Kuwait is a small, rich, relatively open economy with self-reported crude oil reserves of about 104 billion barrels - 10% of world reserves. Petroleum accounts for nearly half of GDP, 95% of export revenues, and 80% of government income. High oil prices in recent years have helped build Kuwait's budget and trade surpluses and foreign reserves. As a result of this positive fiscal situation, the need for economic reforms is less urgent and the government has not earnestly pushed through new initiatives. Despite its vast oil reserves, Kuwait experienced power outages during the summer months in 2006 and 2007 because demand exceeded power generating capacity. Power outages are likely to worsen, given its high population growth rates, unless the government can increase generating capacity. In May 2007 Kuwait changed its currency peg from the US dollar to a basket of currencies in order to curb inflation and to reduce its vulnerability to external shocks.
GDP (purchasing power parity):
$140 billion (2007 est.)