Kuwait Ranks Second In Wealth Among Arab Countries


Al-Anba daily reports that Qatar has the highest per capita wealth in the Arab world - $183,100 per person, according to Credit Suisse Bank's Global Wealth Report. The report stated that Kuwait ranked second with per capita wealth of $171,300; United Arab Emirates (UAE) in third place with $122,800; Bahrain ranked fourth with $98,000; Saudi Arabia took the fifth place with $84,400; Oman ranked sixth; Jordan ranked seventh; Egypt ranked eighth; Tunisia ranked ninth and Iraq ranked 10th.

According to MoneyLink website, Kuwait is among the richest countries in the Middle East because of its abundant supply of crude oil, while its oil reserves have been strategically deployed to maintain a leading position on the list of the world's richest countries.

 Kuwait is a small country geographically, but it enjoys an open economy backed by oil reserves of about 102 billion barrels, which account for six percent of global reserves. Oil income contributes almost half of the country’s gross domestic product (GDP) and 90 percent of government income. Kuwait plans to increase oil production to four million barrels per day in order to increase its wealth, the website revealed.