Kuwait – Last Updated: July 2011: “Kuwait is a member of the Organization of Petroleum Exporting Countries (OPEC), exporting the fourth largest volume of oil among the group in 2010. At the same time, Kuwait’s economy is one heavily dependent on petroleum export revenues, which account for half of its overall gross domestic product (GDP), 95 percent of total export earnings, and 95 percent of government revenues. Kuwait has an active sovereign-wealth fund, the Kuwait Investment Authority, which oversees all state expenditures and international investments. Kuwait also allocates 10 percent of its state revenues into the Reserve Fund for Future Generations (RFFG), for the day when oil income starts to decline.”