Kuwait GDP in Q1 increases 2.6 percent year-on-year

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Kuwait’s gross domestic product grew 2.6 percent at constant prices in the first quarter of 2019 from a year earlier, according to Kuwait’s Central Statistical Bureau.

Oil sector grew at 1.3 percent in the first quarter and non-oil sector expanded at 4.1, the data showed.

OPEC-led production curbs have hit oil-related growth among Gulf energy producers this year.

The International Monetary Fund expects Kuwait’s economy to grow 2.5 percent this year, up from an estimated 1.7 percent in 2018.

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