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Kuwait Report 2015 7

Kuwait is recognized as a high income

economy by the World Bank. The Kuwaiti

dinar is the highest-valued currency unit in

the world. Petroleum accounts for nearly

half of GDP and 94% of export revenues

and government income. The Kuwait Stock

Exchange is the second-largest stock

exchange in the Arab world.

Kuwait has diversified its earnings away

from oil exports. In the past five years,

there has been a significant rise in

entrepreneurship and small business start-

ups. Kuwait has most fast-growing projects

in the Gulf region. Instagram businesses

are the informal sector, which is very

popular and is on the rise. Many Kuwaiti

entrepreneurs are using the Instagram-

based business model.

Kuwait's sovereign wealth fund is KIA, the

Kuwait Investment Authority, which is

specialized in foreign investment. The KIA

is the world's oldest sovereign wealth fund.

Kuwait is the Arab world's largest foreign


(Sources: IASLIM documentation and