Qatari Economy
Economy - overview: Qatar has prospered in the last several years with continued high real GDP growth. GDP was driven largely by the oil and gas sector however growth in the manufacturing, construction, and financial services sectors have pushed the non-oil component to just over half of Qatar’s nominal GDP for the first time since 2000. Economic policy is focused on sustaining Qatar's nonassociated 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 62% 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 Qatar's metro system, light rail system, the construction of a new port, roads, stadiums and related sporting infrastructure. The new Hamad International Airport opened in mid-2014 with an initial annual passenger capacity of 24 million and with a projected 50 million when complete.
GDP (purchasing power parity): $320.5 billion (2014 est.)
GDP (official exchange rate): $210 billion (2014 est.)
GDP - real growth rate: 6.1% (2014 est.)
GDP - per capita (PPP): $143,400 (2014 est.)
GDP - composition by sector: agriculture: 0.1%
industry: 68%
services: 31.9% (2014 est.)
Labor force: 1.553 million (2014 est.)
Labor force - by occupation: agriculture: 19.4%
industry: 24.2%
services: 56.4% (2005)
Unemployment rate: 0.4% (2014 est.)
Household income or consumption by percentage share: lowest 10%: 1.3%
highest 10%: 35.9% (2007)
Investment (gross fixed): 32.3% of GDP (2009 est.)
Budget: revenues: $91.07 billion
expenditures: $67.32 billion (2014 est.)
Public debt: 30% of GDP (2014 est.)
Inflation rate (consumer prices): 3% (2014 est.)
Central bank discount rate: 4.5% (31 December 2012 est.)
Commercial bank prime lending rate: 4.5% (31 December 2014 est.)
Agriculture - products: fruits, vegetables; poultry, dairy products, beef; fish
Industries: crude oil production and refining, ammonia, fertilizers, petrochemicals, steel reinforcing bars, cement, commercial ship repair
Industrial production growth rate: 4.4% (2014 est.)
Electricity - production: 28.87 billion kWh (2011 est.)
Electricity - consumption: 28.24 billion kWh (2011 est.)
Electricity - exports: 0 kWh (2013 est.)
Electricity - imports: 0 kWh (2013 est.)
Oil - production: 2.057 million bbl/day (2013 est.)
Oil - consumption: 129,000 bbl/day (2008 est.)
Oil - exports: 1.389 million bbl/day (2012 est.)
Oil - imports: 0 bbl/day (2010 est.)
Oil - proved reserves: 25.24 billion bbl (1 January 2014 est.)
Natural gas - production: 156.4 billion cu m (2012 est.)
Natural gas - consumption: 35.58 billion cu m (2012 est.)
Natural gas - exports: 120.8 billion cu m (2012 est.)
Natural gas - imports: 0 cu m (2012 est.)
Natural gas - proved reserves: 25.07 trillion cu m (1 January 2014 est.)
Current account balance: $39 billion (2014 est.)
Exports: $121.2 billion (2014 est.)
Exports - commodities: liquefied natural gas (LNG), petroleum products, fertilizers, steel
Exports - partners: Japan 25.3%, South Korea 18.8%, India 12.7%, China 7.7%, Singapore 6.2%, UAE 5.1% (2014)
Imports: $39.12 billion (2014 est.)
Imports - commodities: machinery and transport equipment, food, chemicals
Imports - partners: US 11.5%, China 10.6%, UAE 8.2%, Germany 7.1%, Japan 6.4%, UK 5.5%, Italy 4.9%, Saudi Arabia 4.6% (2014)
Reserves of foreign exchange and gold: $47.14 billion (31 December 2014 est.)
Debt - external: $158 billion (31 December 2014 est.)
Stock of direct foreign investment - at home: $32.04 billion (31 December 2014 est.)
Stock of direct foreign investment - abroad: $38.1 billion (31 December 2014 est.)
Exchange rates: Qatari rials (QAR) per US dollar - 3.64 (2014 est.), 3.64 (2013 est.), 3.64 (2012 est.), 3.64 (2011 est.), 3.64 (2010 est.)
economic climate  
Background:
There is a need for Qatar to diversify the economy along the lines of Dubai or Bahrain, in order to provide a more stable environment for economic growth in the future. In order to help achieve this, the government has committed itself to an investment program amounting to US$130 billion in projects across all major sectors over the next five years. Examples of these include the Qatar Financial Centre, Hamad Medical City, Education City and The Qatar Science and Technology Park.
To support these and many other projects, Qatar is also investing heavily in construction and infrastructure projects. New roads, water and sewerage systems are being built along with education facilities, hospitals, housing, business and tourist infrastructure. Major projects also include the Pearl, Lusail City, the New Doha International Airport, the Qatar-Bahrain Causeway and the proposed 65km bridge that would link Doha with Abu Dhabi at a cost of $13 billion.
Export opportunities:  
Update: This page was last updated on 10 November 2015
Sources: 1. CIA, The World Factbook, https://www.cia.gov/library/publications/the-world-factbook/geos/ae.html
2. http://www.austrade.gov.au
3. DIBNC Experts Team