Economy - overview:
Qatar’s oil and natural gas resources are the country’s main economic engine and government revenue source, driving Qatar’s high economic growth and per capita income levels, robust state spending on public entitlements, and booming construction spending, particularly as Qatar prepares to host the World Cup in 2022. Although the government has maintained high capital spending levels for ongoing infrastructure projects, low oil and natural gas prices in recent years have led the Qatari Government to tighten some spending to help stem its budget deficit.
Qatar’s reliance on oil and natural gas is likely to persist for the foreseeable future. Proved natural gas reserves exceed 25 trillion cubic meters - 13% of the world total and, among countries, third largest in the world. Proved oil reserves exceed 25 billion barrels, allowing production to continue at current levels for about 56 years. Despite the dominance of oil and natural gas, Qatar has made significant gains in strengthening non-oil sectors, such as manufacturing, construction, and financial services, leading non-oil GDP to steadily rise in recent years to just over half the total.
Following trade restriction imposed by Saudi Arabia, the UAE, Bahrain, and Egypt in 2017, Qatar established new trade routes with other countries to maintain access to imports.
GDP (purchasing power parity):
$341.7 billion (2017 est.)
$333.3 billion (2016 est.)
$326.1 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 53
GDP (official exchange rate):
$166.3 billion (2017 est.)
GDP - real growth rate:
2.5% (2017 est.)
2.2% (2016 est.)
3.6% (2015 est.)
country comparison to the world: 136
GDP - per capita (PPP):
$124,900 (2017 est.)
$127,300 (2016 est.)
$133,700 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 2
Gross national saving:
48.8% of GDP (2017 est.)
44% of GDP (2016 est.)
46.6% of GDP (2015 est.)
country comparison to the world: 2
GDP - composition, by end use:
household consumption: 24.8%
government consumption: 22.8%
investment in fixed capital: 40.1%
investment in inventories: 1.6%
exports of goods and services: 44.6%
imports of goods and services: -33.9% (2017 est.)
GDP - composition, by sector of origin:
agriculture: 0.2%
industry: 50.3%
services: 49.5% (2017 est.)
Agriculture - products:
fruits, vegetables; poultry, dairy products, beef; fish
Industries:
liquefied natural gas, crude oil production and refining, ammonia, fertilizer, petrochemicals, steel reinforcing bars, cement, commercial ship repair
Industrial production growth rate:
-7% (2017 est.)
country comparison to the world: 202
Labor force:
1.953 million (2017 est.)
country comparison to the world: 126
Unemployment rate:
0.6% (2017 est.)
0.7% (2016 est.)
country comparison to the world: 3
Population below poverty line:
NA%
Household income or consumption by percentage share:
lowest 10%: 1.3%
highest 10%: 35.9% (2007 est.)
Budget:
revenues: $41.47 billion
expenditures: $54.97 billion (2017 est.)
Taxes and other revenues:
24.9% of GDP (2017 est.)
country comparison to the world: 116
Budget surplus (+) or deficit (-):
-8.1% of GDP (2017 est.)
country comparison to the world: 199
Public debt:
56.8% of GDP (2017 est.)
55.4% of GDP (2016 est.)
country comparison to the world: 83
Fiscal year:
1 April - 31 March
Inflation rate (consumer prices):
0.9% (2017 est.)
2.7% (2016 est.)
country comparison to the world: 38
Central bank discount rate:
4.5% (16 March 2017 est.)
4.93% (31 December 2012 est.)
country comparison to the world: 83
Commercial bank prime lending rate:
5% (31 December 2017 est.)
4.51% (31 December 2016 est.)
country comparison to the world: 146
Stock of narrow money:
$35.54 billion (31 December 2017 est.)
$35.26 billion (31 December 2016 est.)
country comparison to the world: 59
Stock of broad money:
$139.7 billion (31 December 2017 est.)
$136.7 billion (31 December 2016 est.)
country comparison to the world: 52
Stock of domestic credit:
$228.7 billion (31 December 2017 est.)
$224.2 billion (31 December 2016 est.)
country comparison to the world: 44
Market value of publicly traded shares:
$142.6 billion (31 December 2015 est.)
$185.9 billion (31 December 2014 est.)
$152.6 billion (31 December 2013 est.)
country comparison to the world: 37
Current account balance:
$3.901 billion (2017 est.)
$-7.679 billion (2016 est.)
country comparison to the world: 29
Exports:
$56.26 billion (2017 est.)
$57.25 billion (2016 est.)
country comparison to the world: 49
Exports - commodities:
liquefied natural gas (LNG), petroleum products, fertilizers, steel
Exports - partners:
Japan 20%, South Korea 15.5%, India 13.1%, China 8.2%, UAE 5.5%, Singapore 5.3% (2016)
Imports:
$26.69 billion (2017 est.)
$31.93 billion (2016 est.)
country comparison to the world: 66
Imports - commodities:
machinery and transport equipment, food, chemicals
Imports - partners:
US 13.7%, Germany 9.8%, UAE 9.2%, China 8.6%, Japan 7.2%, UK 5.5%, Saudi Arabia 4.6%, Italy 4.4% (2016)
Reserves of foreign exchange and gold:
$16.89 billion (31 December 2017 est.)
$31.89 billion (31 December 2016 est.)
country comparison to the world: 65
Debt - external:
$168 billion (31 December 2017 est.)
$157.9 billion (31 December 2016 est.)
country comparison to the world: 39
Stock of direct foreign investment - at home:
$36.04 billion (31 December 2017 est.)
$35.31 billion (31 December 2016 est.)
country comparison to the world: 65
Stock of direct foreign investment - abroad:
$59.27 billion (31 December 2017 est.)
$57.63 billion (31 December 2016 est.)
country comparison to the world: 40
Exchange rates:
Qatari rials (QAR) per US dollar -
3.64 (2017 est.)
3.64 (2016 est.)
3.64 (2015 est.)
3.64 (2014 est.)
3.64 (2013 est.)
