Currency | Qatari riyal (QAR, QR) |
---|---|
Trade organisations | WTO and GCC |
Country group | |
Statistics | |
Population | 3,098,866 (2024)[3] |
GDP | |
GDP rank | |
GDP growth |
|
GDP per capita | |
GDP per capita rank | |
GDP by sector |
|
Labour force | 2,035,269 (2023)[7] |
Unemployment | 0.6% (2017 est.) |
Main industries | |
External | |
Exports | $86.51 billion (2018 est.) |
Export goods | Liquefied natural gas, Petroleum Products, Fertilizers, Steel |
Main export partners |
|
Imports | $26.69 billion (2017 est.) |
Import goods | Machinery and Transport Equipment, Food, Chemicals |
Main import partners |
|
Gross external debt | $168 billion (31 December 2017 est.)[10] |
Public finances | |
44.5% of GDP (2022) | |
Revenues | $297.70 billion (2022) |
Expenses | $208.70 billion (2022) |
| |
All values, unless otherwise stated, are in US dollars. |
The economy of Qatar is one of the highest in the world based on GDP per capita, ranking generally among the top ten richest countries on world rankings for 2015 and 2016 data compiled by the World Bank, the United Nations, and the International Monetary Fund (IMF).[13][14] The country's economy has grown despite sanctions by its neighbors, Saudi Arabia and the United Arab Emirates. Mainly because the country exports primarily to Japan, South Korea, India and China, making the sanctions effectively redundant as neither Saudi Arabia nor the United Arab Emirates have imposed trading penalties such as tariffs or embargoes on any of these countries for trading with Qatar, or offering incentives such as discounts for their own energy exports to reduce Qatari exports.
Petroleum and natural gas are the cornerstones of Qatar's economy and account for more than 70% of total government revenue, more than 60% of gross domestic product, and roughly 85% of export earnings. Qatar has the world's third largest proven natural gas reserve and is the third-largest exporter of natural gas.