Project – Coursework Example
Kuwait Vs Qatar of the al Affiliation Kuwait and Qatar are among the economic powerhouse in Middle East. These countries areendowed with a vast amount of oil which has turned their economic and political landscape massively attracting potential investors and becoming a global economic hub. These two countries, however, vary depending on how resource and income distribution, trade aspects, and production levels. This paper considers an analysis of Gross Domestic Product growth rate, inflation rate, unemployment levels and other social development aspects.
The latest data on GDP ranked Qatar ahead of Kuwait with the country having a total of $ 203 billion as compared to Kuwait $ 176 billion annually. Nevertheless, the GDP growth rate has been favorable for Kuwait than in Qatar with Kuwait having 8.31 as compared to Qatar 6.32. Possibly, there are better development policies in Kuwait that in turn leads to a more open economy hence increasing the growth rate. This shows better leadership and resource management despite the ongoing Arab winter within Middle East.
In terms of unemployment, Qatar has a lower number of unemployed people than in Kuwait with the country having 0. 51 % of unemployed persons as compared to 3. 1% of unemployed people in Kuwait. Qatar is more endowed resource wise, and hence the majority of the people have gainful employment opportunities. The vast oil reservoirs have managed to sustain the economy with the majority of the people having productive employment hence a better standard of living.
The rate of inflation is calculated using the current prices index that is usually published by the Bureau of Labor Statistics. This data is regularly updated within a period of at least month to show the reflecting prices of goods and services in the market. In this regard, the latest statistics to be realized maps Kuwait having lower inflation rates of 2.5 as compared to Kuwait inflation rates ranking at 3.0. The inflation rate is a factor of the level currency in the circulation compared to the total number of goods in the market.
The trade value index rates Qatar favorably as compared to Kuwait. The merchandise imports at Qatar for the past one-year rates at 30 while Kuwait stands at 22. The major merchandise export is at 133 for Qatar and 121 for Kuwait
Havrylyshyn, O., & Kunzel, P. (2007). Intra-industry trade of Arab countries: an indicator of potential competitiveness.