The State of Kuwait is a Sovereign Arab Emirate. Kuwait’s population is estimated to be 3 to 3.5 million people which includes approximately 2 million non-nationals. Kuwait has a GDP of US$138.6 billion and a per capita income of US$60,800, making it the fourth richest country in the world. Kuwait has the world’s fifth largest oil reserves and is the fourth richest country in the world per capita. Kuwait has one of the fastest growing economies in the region. Kuwait has the second-most free economy in the Middle East. The Kuwait Stock Exchange, which has about 200 firms listed, is the second-largest stock exchange in the Arab world with a total market capitalization of US$235 billion. Kuwait has a well developed banking system and several banks in the country date back to the time before oil was discovered.
Kuwait has a proven crude oil reserves of 104 billion barrels (15 km³), estimated to be 10% of the world’s reserves. According to the Kuwaiti constitution, all natural resources in the country and associated revenues are government property.