History of Kuwait late 16th century, the Portuguese built a defensive settlement in Kuwait. In 1613, the town of Kuwait was founded in the present-day location of Kuwait City. Kuwait was initially under the control of the Bani Khalid clan, who built a fishing village in present-day Kuwait Bay. The beginning of the eighteenth century witnessed the contention of Kuwait by the Bani Utub confederation. They migrated to Kuwait in 1682. As a result of successive matrimonial alliances, they were able to wrest control of Kuwait sometime after the death of Barrak Bin Urair [Bani Khaled] and the fall of the Bani Khaled
Economy of Kuwait cargo of 753,334 TEU in 2006. Mina Al-Ahmadi, the largest port in the country, handles most of Kuwait's oil exports. Construction of another major port located in Bubiyan island started in 2007. The port is expected to handle 1.3 million TEU when operations start. The following table shows the main economic indicators in 1980–2017. Economy of Kuwait Kuwait is a small, petroleum-based economy. The Kuwaiti dinar is the highest-valued unit of currency in the world. Non-petroleum industries include financial services. According to the World Bank, Kuwait is the fourth richest country in the world per capita. Kuwait is the second