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Qatar Economy Profile 2017

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Economy - overviewQatar’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 a $12 billion budget deficit in 2016 - 7.8% of GDP.

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 - and 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 of the total.
GDP (purchasing power parity)$334.5 billion (2016 est.)
$325.9 billion (2015 est.)
$314.4 billion (2014 est.)
note: data are in 2016 dollars
GDP (official exchange rate)$156.6 billion (2016 est.)
GDP - real growth rate2.6% (2016 est.)
3.7% (2015 est.)
4% (2014 est.)
GDP - per capita (PPP)$129,700 (2016 est.)
$134,600 (2015 est.)
$140,700 (2014 est.)
note: data are in 2016 dollars
Gross national saving42.3% of GDP (2016 est.)
47% of GDP (2015 est.)
57.6% of GDP (2014 est.)
GDP - composition, by end usehousehold consumption: 25.7%
government consumption: 22.6%
investment in fixed capital: 44.8%
investment in inventories: 1.7%
exports of goods and services: 46.5%
imports of goods and services: -41.3% (2016 est.)
GDP - composition by sectoragriculture: 0.1%
industry: 51.1%
services: 48.8% (2016 est.)
Population below poverty lineNA%
Labor force1.691 million (2016 est.)
Unemployment rate0.7% (2016 est.)
0.4% (2015 est.)
Unemployment, youth ages 15-24total: 1.1%
male: 0.4%
female: 6.2% (2013 est.)
Household income or consumption by percentage sharelowest 10%: 1.3%
highest 10%: 35.9% (2007)
Budgetrevenues: $41.71 billion
expenditures: $53.95 billion (2016 est.)
Taxes and other revenues26.6% of GDP (2016 est.)
Budget surplus (+) or deficit (-)-7.8% of GDP (2016 est.)
Public debt55.6% of GDP (2016 est.)
41.6% of GDP (2015 est.)
Inflation rate (consumer prices)3.8% (2016 est.)
1.7% (2015 est.)
Central bank discount rate4.5% (31 December 2012)
4.93% (31 December 2011)
Commercial bank prime lending rate5% (31 December 2016 est.)
4.5% (31 December 2015 est.)
Stock of narrow money$34.45 billion (31 December 2016 est.)
$34.87 billion (31 December 2015 est.)
Stock of broad money$155.8 billion (31 December 2015 est.)
$138.5 billion (31 December 2014 est.)
Stock of domestic credit$218.7 billion (31 December 2016 est.)
$200.6 billion (31 December 2015 est.)
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.)
Agriculture - productsfruits, vegetables; poultry, dairy products, beef; fish
Industriesliquefied natural gas, crude oil production and refining, ammonia, fertilizers, petrochemicals, steel reinforcing bars, cement, commercial ship repair
Industrial production growth rate1.5% (2016 est.)
Current Account Balance-$3.48 billion (2016 est.)
$13.75 billion (2015 est.)
Exports$64.69 billion (2016 est.)
$77.29 billion (2015 est.)
Exports - commoditiesliquefied natural gas (LNG), petroleum products, fertilizers, steel
Exports - partnersJapan 25.4%, India 14.6%, China 8.4%, UAE 6.8%, Singapore 5.6%, UK 5.5%, Thailand 4.2% (2015)
Imports$33.76 billion (2016 est.)
$28.5 billion (2015 est.)
Imports - commoditiesmachinery and transport equipment, food, chemicals
Imports - partnersChina 11.9%, US 11.3%, UAE 9%, Germany 7.7%, Japan 6.7%, UK 5.9%, Italy 4.6%, Saudi Arabia 4.4% (2015)
Reserves of foreign exchange and gold$36.03 billion (31 December 2016 est.)
$37.26 billion (31 December 2015 est.)
Debt - external$159.2 billion (31 December 2016 est.)
$141.6 billion (31 December 2015 est.)
Stock of direct foreign investment - at home$35.38 billion (31 December 2016 est.)
$34.53 billion (31 December 2015 est.)
Stock of direct foreign investment - abroad$52.66 billion (31 December 2016 est.)
$49.73 billion (31 December 2015 est.)
Exchange ratesQatari rials (QAR) per US dollar -
3.64 (2016 est.)
3.64 (2015 est.)
3.64 (2014 est.)
3.64 (2013 est.)
3.64 (2012 est.)
Fiscal year1 April - 31 March

Source: CIA World Factbook
This page was last updated on July 9, 2017

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