KUWAIT GENERAL SWOT ANALYSIS
Kuwait is a country in Northeast Arabian Peninsula in Western Asia at the Northwest corner of Persian Gulf, the land area covers 17, 820 square kilometer and mostly it occupies a dry land and deserts they occupy only very little farmland, there are only few of livestock. Its population as of 2010 estimated about 3,524,000 and most of their people speaks Arabic as part of their official language they can also speak some Persian and English language, mostly their religion belongs to the Islam. The currency they use is Kuwaiti Dinar, their basis of economy is the abundance in petroleum, natural gas and other minerals, this country is one the one largest oil producers of the world. Constitutional form of Monarchy is their form of government. Kuwait has a rich history war of colonial and philosophical standing that shaped their culture.
Strength of Kuwait – As of the present time the strength of Kuwait that they can be proud of is still their strong financial resources. This is due to the large mineral deposit found in their country as of today Kuwait has more than US 7.9 Billion US dollar Gross Domestic Products (GDP) that makes them the 5th richest country of the world. They have at least 10% of the worlds reserves in crude oil and the reserves is 100% goes through the government that makes their country even more stable in financial standing. Kuwait has a guaranteed reserved of 104 million barrel. Their major products exported entirely around the world includes, Petroleum, petrochemicals and fertilizer.
The oil industry in their country amounts to at least 80% of their government revenue and their current oil production is equal to 2.8 billion per day and still their production would rise up to 4 billion in projection up to 2020 because of their technology and labor forces. The National Bank of Kuwait is one of the largest in the Arab community. Another Strength of Kuwait is their State of the Art Infrastructure, Strong oil deposit and export distribution and technology. Kuwait also has a strong industry in cement and other construction materials they are also strong in desalination and shipping services. The strength of Kuwait covers up largely to their weaknesses.
Weaknesses of Kuwait – In Spite of their rich economy in oil deposits and financial standing they still have the following weaknesses. First is their climate that delimits their agricultural production their temperature can exceed up to 45 to 50 degree Celsius that can burn their production and dust and sand storm could last up to weeks, they have a variety of weather pattern that is not usually unsuitable for farming. They have also lack potable water and food supply that results in dependency in imported goods and services in food including vegetables, fruits and other livestock and some dairy products. They have also realized the needs to import water. Within a year they are expecting at least .74 billion US dollar in import commodity of mostly food items and textile. Their export products come from various sources including Japan, China, Singapore, Korea, India, Some European countries and the United States of America.
Opportunities in Kuwait – There are various opportunities in Kuwait and usually their needs are farm products and food that they may also accept various exports from other countries about their products and services. Most of the companies of Kuwait are oil and refinery production that has a wide opportunity in labor force including chemical, mechanical and construction engineers and workers in their oil production and infrastructure. This sets the opportunity of workers from other countries; they have also employed various people from other neighboring countries since they lack manpower in their country. They also need Information technology experts. Another opportunity in Kuwait is their financial stability that they can lend money from laborers and community depending on their needs and qualification since they are rich in financial resources.
Threats in Kuwait – there are also many threats in Kuwait their history of war that always served as a warning for some immigrants and tourist and other workers to set aside their visit because of this threats, in daily sun reports last august of 2011 the Iraqi militants is on their way. They are the Ketaeb Hisbollah that is threatening to strike the new port if Kuwait would not stop the construction; according to them this construction can have a negative environmental impact. Kuwait answered back that they are not scared about the threats and they are going to continue their construction work project in building the mega port project and this will not create negative environmental impact. This report is according to Khaled Al Jarallah their undersecretary of foreign ministry. http://www.dailystar.com.lb/News/Middle-East/2011/Aug-07/Kuwait-will-build-megaport-despite-threat-official.ashx#axzz1YuiozhdC
Credit:ivythesis.typepad.com
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