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Qatar

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Summary

Despite the global financial crisis, Qatar has prospered in the last several years - in 2010 Qatar had the world's highest growth rate. Qatari authorities throughout the crisis sought to protect the local banking sector with direct investments into domestic banks. GDP rebounded in 2010 largely due to the increase in oil prices. Economic policy is focused on developing Qatar's non-associated 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 likely have made Qatar the highest per-capita income country - ahead of Liechtenstein - and the country with the lowest unemployment. Proved oil reserves 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, about 14% 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 and the Qatar-Bahrain causeway.

Central bank

Qatar Central Bank

International Reserves

US$ 31.182 billion (Source: World Bank; Data updated: November 2010)

Gross Domestic Product - GDP

US$ 194.27 billion (2009 estimate)

GDP (Purchasing Power Parity)

182.591 billion of International dollars (2009 estimate)

Real GDP growth

2000

2001

2002

2003

2004

2005

2006

2007

10.9%

6.3%

3.2%

6.3%

17.7%

7.6%

18.6%

26.8%

2008

2009

2010

2011*

25.4%

8.6%

16.3%

20%

*Estimate

GDP per capita - current prices

US$ 109,881 (2009 estimate)

GDP per capita - PPP

$103,276 International Dollars (2009 estimate)

GDP (PPP) - share of world total

1980

1990

2000

2010

2015**

0.1%

0.06%

0.08%

0.2%

0.24%

**Forecast

GDP - composition by sector

  • agriculture: 0.1%
  • industry: 68.4%
  • services: 31.5% (2009 estimate)
  • (Data released on November 2010)

Gross domestic expenditure on R&D (% of GDP)

N/A

(Data released on November 2010)

Inflation

2008

2009

2010

2011*

15%

-4.9%

-2.4%

4.2%

*Estimate

Unemployment rate

2008

2009

2010

2011*

N/A

N/A

N/A

N/A

*Estimate

Household saving rates

N/A

(Data released on November 2010)

Public debt (General government gross debt as a % of GDP)

2007

2008

2009

2010

2011*

8.4%

11.9%

26.6%

17.8%

13.3%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)

2007

2008

2009

2010*

2011**

11.3%

11.5%

13.7%

11.3%

6.9%

*Estimate   **Forecast

Government bond ratings

Standard & Poor's: AA/Stable/A-1+

Moody's rating: Aa2

Moody's outlook: STA

(Foreign Currency Government Bond Ratings; Data last updated Nov 2010)

Market value of publicly traded shares

2007

2008

2009

US$95.488 billion

US$76.307 billion

US$87.856 billion

Largest companies in Qatar

QNB (Major Banks), Qatar Telecom (Telecommunications services), Industries Qatar (Specialized Chemicals), Ezdan Real Estate (Real Estate), Commercial Bank Qatar (Regional Banks)

(2011)

Current account balance

US$ 70.2 billion (2009 estimate)

Current account balance by percentage of GDP

36.1% of GDP (2009 estimate)

Exports as percent of GDP

(Exports of goods and services)

64.2% (2007)

(Data released on December 2010)

Shares in world total merchandising export

0.41%

(Data were released in Nov 2011 and refer to 2010)

Shares in world total commercial services export

0.12%

(Data were released in Nov 2011 and refer to 2006)

Total exports

US$57.82 billion f.o.b. (2010 estimate)

Export commodities

liquefied natural gas (LNG), petroleum products, fertilizers, steel

Total imports

US$24.96 billion f.o.b. (2008 estimate)

Import commodities

machinery and transport equipment, food, chemicals

Exports - major partners

Japan 39.9%, South Korea 19.9%, Singapore 9.9%, India 5.1%, Thailand 4.9%, UAE 4% (2007)

Imports - major partners

US 13.3%, Italy 10.8%, Japan 8.9%, France 7.9%, Germany 7.3%, UK 5.7%, South Korea 5.6%, UAE 5.1%, Saudi Arabia 4.3% (2007)

FDI inflows

2008

2009

2010

US$3,779 million

US$8,125 million

US$5,534 million

FDI outflows

2008

2009

2010

 

US$6,029 million

US$11,584 million

US$1,863 million

 

Value of cross-border M&A, by country of purchaser

2008

2009

2010

2011

US$6,029 million

US$10,266 million

US$865 million

US$-1,200 million

Cross-border M&A deals worth over $3 billion completed in 2008

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 – 183. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 50 out of 183 countries (2010)

Subcategories:

Starting a business: 111 out of 183 countries

Registering property: 58 out of 183 countries

Paying Taxes: 2 out of 183 countries

Getting credit: 138 out of 183 countries

Protecting investors: 93 out of 183 countries

Trading across border: 46 out of 183 countries

Enforcing Contracts: 95 out of 183 countries

(2010)

Global competitiveness ranking

(ranking by country on a basis of 142, the first is the best)

14

(2011/2012)

 

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 27 Score: 70.5 (Mostly Free) (2009)

(100=totally free 0=totally repressed )

Contact

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