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Qatar Economy Profile 2016

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Economy - overviewQatar has prospered in the last several years with continued high real GDP growth, but low oil prices have dampened the outlook. Qatar was the only Gulf Cooperation Council member that avoided a budget deficit in 2015, but it projects a $12.8 billion deficit, 6% of GDP in 2016.

GDP is driven largely by the oil and gas sector; however, growth in manufacturing, construction, and financial services have lifted the non-oil sectors to just over half of Qatar’s nominal GDP. Economic policy is focused on sustaining Qatar's non-associated natural gas reserves and increasing private and foreign investment in non-energy sectors, but oil and gas still account for roughly 92% of export earnings, and 56% of government revenues. Oil and gas have made Qatar the world's highest per-capita income country and the country with the lowest unemployment. Proved oil reserves in excess of 25 billion barrels should enable continued output at current levels for about 56 years. Qatar's proved reserves of natural gas exceed 25 trillion cubic meters, about 13% of the world total and third largest in the world.

Qatar's successful 2022 World Cup bid is accelerating large-scale infrastructure projects such as its metro system, light rail system, construction of a new port, roads, stadiums and related sporting infrastructure.
GDP (purchasing power parity)$319.8 billion (2015 est.)
$309.7 billion (2014 est.)
$297.8 billion (2013 est.)
note: data are in 2015 US dollars
GDP (official exchange rate)$185.4 billion (2015 est.)
GDP - real growth rate3.3% (2015 est.)
4% (2014 est.)
4.6% (2013 est.)
GDP - per capita (PPP)$132,100 (2015 est.)
$138,600 (2014 est.)
$145,600 (2013 est.)
note: data are in 2015 US dollars
Gross national saving54.5% of GDP (2015 est.)
58.3% of GDP (2014 est.)
60.2% of GDP (2013 est.)
GDP - composition, by end usehousehold consumption: 18.8%
government consumption: 17.8%
investment in fixed capital: 44.6%
investment in inventories: -1.3%
exports of goods and services: 49.9%
imports of goods and services: -29.8% (2015 est.)
GDP - composition by sectoragriculture: 0.1%
industry: 58.8%
services: 41.1% (2015 est.)
Population below poverty lineNA%
Labor force1.644 million (2015 est.)
Unemployment rate0.4% (2015 est.)
0.4% (2014 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: $77.22 billion
expenditures: $68.65 billion (2015 est.)
Taxes and other revenues40.2% of GDP (2015 est.)
Budget surplus (+) or deficit (-)4.5% of GDP (2015 est.)
Public debt39.9% of GDP (2015 est.)
31.9% of GDP (2014 est.)
Inflation rate (consumer prices)1.7% (2015 est.)
3.3% (2014 est.)
Central bank discount rate4.5% (31 December 2012)
4.93% (31 December 2011)
Commercial bank prime lending rate4.7% (31 December 2015 est.)
4.5% (31 December 2014 est.)
Stock of narrow money$37.89 billion (31 December 2015 est.)
$34.14 billion (31 December 2014 est.)
Stock of broad money$155.8 billion (31 December 2015 est.)
$138.5 billion (31 December 2014 est.)
Stock of domestic credit$184.1 billion (31 December 2015 est.)
$168.9 billion (31 December 2014 est.)
Market value of publicly traded shares$126.4 billion (31 December 2012 est.)
$125.4 billion (31 December 2011)
$123.6 billion (31 December 2010 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 rate0.7% (2015 est.)
Current Account Balance$9.146 billion (2015 est.)
$49.66 billion (2014 est.)
Exports$77.74 billion (2015 est.)
$131.6 billion (2014 est.)
Exports - commoditiesliquefied natural gas (LNG), petroleum products, fertilizers, steel
Exports - partnersSouth Korea 18.3%, Japan 18.2%, India 12.4%, UAE 8.8%, China 5.1%, Singapore 4% (2015)
Imports$37.15 billion (2015 est.)
$38.23 billion (2014 est.)
Imports - commoditiesmachinery and transport equipment, food, chemicals
Imports - partnersUS 13.7%, France 10.1%, UK 9.1%, UAE 7.9%, Germany 7.7%, China 7.4%, Japan 5%, Saudi Arabia 4.4% (2015)
Reserves of foreign exchange and gold$42.77 billion (31 December 2015 est.)
$43.32 billion (31 December 2014 est.)
Debt - external$156.8 billion (31 December 2014 est.)
$149.2 billion (31 December 2013 est.)
Stock of direct foreign investment - at home$34.71 billion (31 December 2015 est.)
$33.46 billion (31 December 2014 est.)
Stock of direct foreign investment - abroad$49.14 billion (31 December 2015 est.)
$45.71 billion (31 December 2014 est.)
Exchange ratesQatari rials (QAR) per US dollar -
3.64 (2015 est.)
3.64 (2014 est.)
3.64 (2013 est.)
3.64 (2012 est.)
3.64 (2011 est.)
Fiscal year1 April - 31 March

Source: CIA World Factbook
This page was last updated on October 8, 2016

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