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; National Vision 2030 government strategy for economic development, diversification, favorable business conditions to grow investment and employment; infrastructure investments; Islamic finance leader; citizenship-based labor force growth. Key agricultural products in this country include: tomatoes, dates, chicken, cucumbers/gherkins, camel milk, eggs, sheep milk, goat milk, pumpkins/squash, milk (2022).
More about the economy of Qatar
| Labor force | 2.035 million (2023 est.) |
|---|---|
| Industrial production growth rate | 1.69% (2022 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 | 26.4% (of GDP) (2017 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Qatari rials (QAR) per US dollar - |
| 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.) |
| Exchange rates 2019 | 3.64 (2019 est.) |
| Debt - external | |
| Debt - external 31 December 2017 | $167.8 billion (31 December 2017 est.) |
| Debt - external 31 December 2016 | $157.9 billion (31 December 2016 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2023 | $51.539 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $47.389 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $42.213 billion (2021 est.) |
| Current account balance | |
| Current account balance 2023 | $36.47 billion (2023 est.) |
| Current account balance 2022 | $63.118 billion (2022 est.) |
| Current account balance 2021 | $26.319 billion (2021 est.) |
| Public debt | |
| Public debt 2017 | 53.8% of GDP (2017 est.) |
| Budget | |
| Revenues | $65.922 billion (2019 est.) |
| Expenditures | $57.258 billion (2019 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2022 | 0.44% of GDP (2022 est.) |
| Remittances 2021 | 0.48% of GDP (2021 est.) |
| Remittances 2020 | 0.45% of GDP (2020 est.) |
| Average household expenditures | |
| On food | 12.3% of household expenditures (2021 est.) |
| On alcohol and tobacco | 0.3% of household expenditures (2021 est.) |
| Imports | |
| Imports 2023 | $72.174 billion (2023 est.) |
| Imports 2022 | $74.52 billion (2022 est.) |
| Imports 2021 | $61.204 billion (2021 est.) |
| Imports (partners) | UAE 13%, China 11%, US 10%, UK 8%, India 5% (2022) |
| Comodities Imports force | gas turbines, jewelry, cars, garments, aircraft (2022) |
| Exports | |
| Imports 2023 | $72.174 billion (2023 est.) |
| Imports 2022 | $74.52 billion (2022 est.) |
| Imports 2021 | $61.204 billion (2021 est.) |
| Exports (partners) | China 18%, India 15%, Japan 10%, South Korea 9%, UK 6% (2022) |
| Comodities Exports force | natural gas, crude petroleum, refined petroleum, fertilizers, ethylene polymers (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2022 | $304.973 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $292.655 billion (2021 est.) |
| Real GDP (purchasing power parity) 2020 | $287.97 billion (2020 est.) |
| GDP (official exchange rate) | $235.77 billion (2022 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2022 | $113,200 (2022 est.) |
| Real GDP per capita 2021 | $108,900 (2021 est.) |
| Real GDP per capita 2020 | $104,300 (2020 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 0.2% (2017 est.) |
| Industry | 50.3% (2017 est.) |
| Services | 49.5% (2017 est.) |
| GDP - composition, by end use | |
| Household consumption | 24.6% (2017 est.) |
| Government consumption | 17% (2017 est.) |
| Investment in fixed capital | 43.1% (2017 est.) |
| Investment in inventories | 1.5% (2017 est.) |
| Exports of goods and services | 51% (2017 est.) |
| Imports of goods and services | -37.3% (2017 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 0.13% (2023 est.) |
| Unemployment rate 2022 | 0.13% (2022 est.) |
| Unemployment rate 2021 | 0.14% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 0.6% (2023 est.) |
| Male | 0.3% (2023 est.) |
| Female | 1.5% (2023 est.) |
All Important Facts about Qatar
Want to know more about Qatar? Check all different factbooks for Qatar below.
