What is the average household income of Kuwait for the year 2006?

Question

I also would like to hear about GDP per Capita for the year 2006 for Kuwait. Please brief me on what GDP per capita means?

Thank you....

Answer 1

GDP (gross domestic product) per capita for 2006 is $21,600.

Petroleum accounts for nearly half of GDP, 95% of export revenues, and 80% of government income. Over 80% of the Kuwait labor force is non-Kuwaiti.

Sorry, didn't find household income.

Answer 2

A region's gross domestic product,or GDP, is one of several measures of the size of its economy. The GDP of a country is defined as the market value of all final goods and services produced within a country in a given period of time. It is also considered the sum of value added at every stage of production of all final goods and services produced within a country in a given period of time. Until the 1980s the term GNP or gross national product was used in the United States(USA). The two terms GDP and GNP are almost identical - and yet entirely different; GDP being concerned with the region in which income is generated and GNP (or GNI - Gross National Income) being a measure of the accrual of income to a region. The most common approach to measuring and understanding GDP is the expenditure method:

GDP = consumption + investment + (government spending) + (exports − imports)

GDP per capita is often used as an indicator of standard of living in an economy. While this approach has advantages, many criticisms of GDP focus on its use as a sole indicator of standard of living.

Kuwait median household income is not something I was able to find anywhere online, but the per capita GDP is $22,800.

Answer 3

its all about oil if there is no oil there is nothing in this country