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Qatar Economy Profile 2013

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Economy - overviewQatar has prospered in the last several years with continued high real GDP growth. Throughout the financial crisis Qatari authorities sought to protect the local banking sector with direct investments into domestic banks. GDP grew sharply in 2010 largely due to the increase in oil prices, and 2011's growth was supported by Qatar's investment in expanding its gas sector. GDP slowed to 6.6% in 2012 as Qatar''s gas sector expansion moved toward completion. Economic policy is focused on developing Qatar''s nonassociated natural gas reserves and increasing private and foreign investment in non-energy sectors, but oil and gas still account for more than 50% of GDP, roughly 85% of export earnings, and 70% 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 57 years. Qatar''s proved reserves of natural gas exceed 25 trillion cubic meters, more than 13% of the world total and third largest in the world. Qatar''s successful 2022 World Cup bid will likely accelerate large-scale infrastructure projects such as Qatar''s metro system, light rail system, and the Qatar-Bahrain causeway. The Hamad International Airport is projected to open by the end of 2013 with an annual passenger capacity of 24 million.
GDP (purchasing power parity)$191 billion (2012 est.)
$179.2 billion (2011 est.)
$158.6 billion (2010 est.)
note: data are in 2012 US dollars
GDP (official exchange rate)$183.4 billion (2012 est.)
GDP - real growth rate6.6% (2012 est.)
13% (2011 est.)
16.7% (2010 est.)
GDP - per capita (PPP)$103,900 (2012 est.)
$101,400 (2011 est.)
$93,300 (2010 est.)
note: data are in 2012 US dollars
Gross national saving63% of GDP (2012 est.)
59.9% of GDP (2011 est.)
52.8% of GDP (2010 est.)
GDP - composition, by end usehousehold consumption: 13.1%
government consumption: 12.1%
investment in fixed capital: 30.6%
investment in inventories: -8.9%
exports of goods and services: 78.6%
imports of goods and services: -25.5%
(2012 est.)
GDP - composition by sectoragriculture: 0.1%
industry: 73.6%
services: 26.3% (2012 est.)
Population below poverty lineNA%
Labor force1.43 million (2012 est.)
Unemployment rate0.5% (2012 est.)
0.4% (2011 est.)
Unemployment, youth ages 15-24total: 1.3%
male: 0.4%
female: 8.9% (2011)
Household income or consumption by percentage sharelowest 10%: 1.3%
highest 10%: 35.9% (2007)
Investment (gross fixed)30.6% of GDP (2012 est.)
Budgetrevenues: $69.76 billion
expenditures: $49.32 billion (2012 est.)
Taxes and other revenues38% of GDP (2012 est.)
Budget surplus (+) or deficit (-)11.1% of GDP (2012 est.)
Public debt32.8% of GDP (2012 est.)
34.4% of GDP (2011 est.)
Inflation rate (consumer prices)1.9% (2012 est.)
1.9% (2011 est.)
Central bank discount rate4.5% (31 December 2012 est.)
4.5% (31 December 2011 est.)
Commercial bank prime lending rate5.38% (31 December 2012 est.)
5.49% (31 December 2011 est.)
Stock of narrow money$24.98 billion (31 December 2012 est.)
$22.49 billion (31 December 2011 est.)
Stock of broad money$97.97 billion (31 December 2012 est.)
$85.16 billion (31 December 2011 est.)
Stock of domestic credit$149.1 billion (31 December 2012 est.)
$121.5 billion (31 December 2011 est.)
Market value of publicly traded shares$125.4 billion (31 December 2011)
$123.6 billion (31 December 2010)
$87.86 billion (31 December 2009)
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 rate4.6% (2012 est.)
Current Account Balance$58.57 billion (2012 est.)
$53.57 billion (2011 est.)
Exports$133.7 billion (2012 est.)
$114.3 billion (2011 est.)
Exports - commoditiesliquefied natural gas (LNG), petroleum products, fertilizers, steel
Exports - partnersJapan 26.6%, South Korea 19%, India 12%, Singapore 5.7%, China 5.4% (2012)
Imports$30.79 billion (2012 est.)
$26.93 billion (2011 est.)
Imports - commoditiesmachinery and transport equipment, food, chemicals
Imports - partnersUS 14.2%, UAE 11%, Saudi Arabia 8.3%, UK 6.4%, Japan 6%, China 4.8%, Germany 4.7%, Italy 4.4%, France 4.4% (2012)
Reserves of foreign exchange and gold$33.19 billion (31 December 2012 est.)
$16.82 billion (31 December 2011 est.)
Debt - external$134.8 billion (31 December 2012 est.)
$128 billion (31 December 2011 est.)
Stock of direct foreign investment - at home$32.17 billion (31 December 2012 est.)
$31.84 billion (31 December 2011 est.)
Stock of direct foreign investment - abroad$26.86 billion (31 December 2012 est.)
$25.02 billion (31 December 2011 est.)
Exchange ratesQatari rials (QAR) per US dollar -
3.64 (2012 est.)
3.64 (2011 est.)
3.64 (2010 est.)
3.64 (2009)
3.64 (2008)
Fiscal year1 April - 31 March
Economy Comparison

Source: CIA World Factbook
Unless otherwise noted, information in this page is accurate as of February 21, 2013