Qatar

Economy - overview:
Qatar has experienced rapid economic growth over the last several years on the back of high oil prices, and in 2008 posted its eighth consecutive budget surplus. Economic policy is focused on developing Qatar’s nonassociated 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 have made Qatar the second highest per-capita income country - following Liechtenstein - and one of the world’s fastest growing. Proved oil reserves of 15 billion barrels should enable continued output at current levels for 37 years. Qatar’s proved reserves of natural gas are nearly 26 trillion cubic meters, about 14% of the world total and third largest in the world. The drop in oil prices in late 2008 and the global financial crisis will reduce Qatar’s budget surplus and may slow the pace of investment and development projects in 2009.
GDP (purchasing power parity):
$85.35 billion (2008 est.)
$76.75 billion (2007)
$68.84 billion (2006)
GDP (official exchange rate):
$116.9 billion (2008 est.)
GDP - real growth rate:
11.2% (2008 est.)
11.5% (2007 est.)
12.8% (2006 est.)
GDP - per capita (PPP):
$103,500 (2008 est.)
$94,200 (2007 est.)
$85,800 (2006 est.)
GDP - composition by sector:
agriculture: 0.1%
industry: 79.4%
services: 20.5% (2008 est.)
Labor force:
1.124 million (2008 est.)
Unemployment rate:
0.6% (2008 est.)
Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%
Investment (gross fixed):
41.4% of GDP (2008 est.)
Budget:
revenues: $40.36 billion
expenditures: $28.08 billion (2008 est.)
Public debt:
6% of GDP (2008 est.)
Inflation rate (consumer prices):
15.2% (2008 est.)
Central bank discount rate:
NA
Commercial bank prime lending rate:
7.43% (31 December 2007)
Stock of money:
$9.718 billion (31 December 2007)
Stock of quasi money:
$22.6 billion (31 December 2007)
Stock of domestic credit:
$30.52 billion (31 December 2007)
Market value of publicly traded shares:
$95.49 billion (31 December 2007)
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:
12.6% (2008 est.)
Electricity - production:
14.41 billion kWh (2006 est.)
Electricity - consumption:
13.19 billion kWh (2006 est.)
Electricity - exports:
0 kWh (2007 est.)
Electricity - imports:
0 kWh (2007 est.)
Oil - production:
1.125 million bbl/day (2007 est.)
Oil - consumption:
108,900 bbl/day (2006 est.)
Oil - exports:
1.026 million bbl/day (2005)
Oil - imports:
0 bbl/day (2005)
Oil - proved reserves:
15.21 billion bbl (1 January 2008 est.)
Natural gas - production:
59.8 billion cu m (2007 est.)
Natural gas - consumption:
20.5 billion cu m (2007 est.)
Natural gas - exports:
39.3 billion cu m (2007 est.)
Natural gas - imports:
0 cu m (2007 est.)
Natural gas - proved reserves:
25.63 trillion cu m (1 January 2008 est.)
Current account balance:
$22.71 billion (2008 est.)
Exports:
$62.44 billion f.o.b. (2008 est.)
Exports - commodities:
liquefied natural gas (LNG), petroleum products, fertilizers, steel
Exports - partners:
Japan 39.9%, South Korea 19.9%, Singapore 9.9%, India 5.1%, Thailand 4.9%, UAE 4% (2007)
Imports:
$24.96 billion f.o.b. (2008 est.)
Imports - commodities:
machinery and transport equipment, food, chemicals
Imports - 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)
Reserves of foreign exchange and gold:
$16.81 billion (31 December 2008 est.)
Debt - external:
$48.91 billion (31 December 2008 est.)
Stock of direct foreign investment - at home:
$3.627 billion (2008 est.)
Stock of direct foreign investment - abroad:
$9.143 billion (2008 est.)
Exchange rates:
Qatari rials (QAR) per US dollar - 3.64 (2008 est.), 3.64 (2007), 3.64 (2006), 3.64 (2005), 3.64 (2004)