Qatar - Economy
How is the economy of Qatar? Based on the information we have, Qatar has a
high-income, oil-and-gas-based Middle Eastern economy; implementing “National Vision 2030” government strategy for economic development, diversification, and favorable business conditions to boost investment and employment; expansion of LNG sector expected to boost growth; Islamic finance leader
. Key agricultural products in this country include: dates, chicken, tomatoes, camel milk, vegetables, cucumbers/gherkins, pumpkins/squash, eggs, sheep milk, eggplants (2023).More about the economy of Qatar
| Labor force | 2.123 million (2024 est.) |
|---|---|
| Industrial production growth rate | 1.6% (2024 est.) |
| Industries | liquefied natural gas, crude oil production and refining, ammonia, fertilizer, petrochemicals, steel reinforcing bars, cement, commercial ship repair |
| Population below poverty line | |
| Taxes and other revenues | |
| Fiscal year | |
| Exchange rates | |
| Currency | Qatari rials (QAR) per US dollar - |
| Exchange rates 2024 | 3.64 (2024 est.) |
| Exchange rates 2023 | 3.64 (2023 est.) |
| Exchange rates 2022 | 3.64 (2022 est.) |
| Exchange rates 2021 | 3.64 (2021 est.) |
| Exchange rates 2020 | 3.64 (2020 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2024 | $53.987 billion (2024 est.) |
| Reserves of foreign exchange and gold 2023 | $51.539 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $47.389 billion (2022 est.) |
| Current account balance | |
| Current account balance 2024 | $38.117 billion (2024 est.) |
| Current account balance 2023 | $36.453 billion (2023 est.) |
| Current account balance 2022 | $63.118 billion (2022 est.) |
| Public debt | |
| Public debt 2016 | 46.7% of GDP (2016 est.) |
| Budget | |
| Revenues | $65.922 billion (2019 est.) |
| Expenditures | $57.258 billion (2019 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2024 | 0.7% of GDP (2024 est.) |
| Remittances 2023 | 0.7% of GDP (2023 est.) |
| Remittances 2022 | 0.4% of GDP (2022 est.) |
| Household income | |
| Lowest 10% | 2.6% (2017 est.) |
| Highest 10% | 25.8% (2017 est.) |
| Average household expenditures | |
| On food | 14.6% of household expenditures (2023 est.) |
| On alcohol and tobacco | 0.3% of household expenditures (2023 est.) |
| Imports | |
| Imports 2024 | $69.692 billion (2024 est.) |
| Imports 2023 | $72.174 billion (2023 est.) |
| Imports 2022 | $74.52 billion (2022 est.) |
| Imports (partners) | USA 12%, China 12%, UAE 9%, UK 7%, India 5% (2023) |
| Comodities Imports force | gas turbines, cars, aircraft, iron pipes, ships (2023) |
| Exports | |
| Imports 2024 | $69.692 billion (2024 est.) |
| Imports 2023 | $72.174 billion (2023 est.) |
| Imports 2022 | $74.52 billion (2022 est.) |
| Exports (partners) | China 18%, India 11%, S. Korea 10%, Japan 7%, Pakistan 6% (2023) |
| Comodities Exports force | natural gas, crude petroleum, refined petroleum, plastics, fertilizers (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2024 | $317.064 billion (2024 est.) |
| Real GDP (purchasing power parity) 2023 | $308.522 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $304.903 billion (2022 est.) |
| GDP (official exchange rate) | $217.983 billion (2024 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2024 | $110,900 (2024 est.) |
| Real GDP per capita 2023 | $116,200 (2023 est.) |
| Real GDP per capita 2022 | $114,700 (2022 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 0.3% (2024 est.) |
| Industry | 58.5% (2024 est.) |
| Services | 45.9% (2024 est.) |
| GDP - composition, by end use | |
| Household consumption | 19.5% (2022 est.) |
| Government consumption | 12.9% (2022 est.) |
| Investment in fixed capital | 30.6% (2022 est.) |
| Investment in inventories | 0% (2022 est.) |
| Exports of goods and services | 68.6% (2022 est.) |
| Imports of goods and services | -31.6% (2022 est.) |
| Unemployment rate | |
| Unemployment rate 2024 | 0.2% (2024 est.) |
| Unemployment rate 2023 | 0.2% (2023 est.) |
| Unemployment rate 2022 | 0.2% (2022 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 0.4% (2024 est.) |
| Male | 0.1% (2024 est.) |
| Female | 1.2% (2024 est.) |
All Important Facts about Qatar
Want to know more about Qatar? Check all different factbooks for Qatar below.
