Qatar Economy - 2023

Economic overview

high-income, oil-and-gas-based Middle Eastern economy; better regional integration after 2021 terrorism resolution; infrastructure investments ahead of 2022 World Cup; Islamic finance leader; citizenship-based labor force growth

Real GDP (purchasing power parity)

$249.636 billion (2021 est.)

$245.727 billion (2020 est.)

$255.01 billion (2019 est.)

note: data are in 2017 dollars

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Real GDP growth rate

1.59% (2021 est.)

-3.64% (2020 est.)

0.77% (2019 est.)

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Real GDP per capita

$92,900 (2021 est.)

$89,000 (2020 est.)

$90,800 (2019 est.)

note: data are in 2017 dollars

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GDP (official exchange rate)

$191.29 billion (2018 est.)

Inflation rate (consumer prices)

2.3% (2021 est.)

-2.54% (2020 est.)

-0.67% (2019 est.)

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Credit ratings

Fitch rating: AA- (2017)

Moody's rating: Aa3 (2017)

Standard & Poors rating: AA- (2017)

note: The year refers to the year in which the current credit rating was first obtained.

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.)

Agricultural products

tomatoes, dates, camel milk, sheep milk, goat milk, pumpkins/gourds, mutton, poultry, milk, eggplants

Industries

liquefied natural gas, crude oil production and refining, ammonia, fertilizer, petrochemicals, steel reinforcing bars, cement, commercial ship repair

Industrial production growth rate

0.66% (2021 est.)

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Labor force

1.977 million (2021 est.)

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Unemployment rate

0.26% (2021 est.)

0.21% (2020 est.)

0.1% (2019 est.)

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Youth unemployment rate (ages 15-24)

total: 1.1%

male: 0.9%

female: 2.1% (2021 est.)

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Population below poverty line

NA

Gini Index coefficient - distribution of family income

41.1 (2007 est.)

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Average household expenditures

on food: 12.3% of household expenditures (2018 est.)

on alcohol and tobacco: 0.3% of household expenditures (2018 est.)

Household income or consumption by percentage share

lowest 10%: 1.3%

highest 10%: 35.9% (2007)

Budget

revenues: $65.922 billion (2019 est.)

expenditures: $57.258 billion (2019 est.)

Budget surplus (+) or deficit (-)

-5.8% (of GDP) (2017 est.)

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Public debt

53.8% of GDP (2017 est.)

46.7% of GDP (2016 est.)

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Taxes and other revenues

26.4% (of GDP) (2017 est.)

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Fiscal year

1 April - 31 March

Current account balance

$26.319 billion (2021 est.)

-$2.986 billion (2020 est.)

$4.26 billion (2019 est.)

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Exports

$105.549 billion (2021 est.) note: data are in current year dollars

$70.933 billion (2020 est.) note: data are in current year dollars

$92.046 billion (2019 est.) note: data are in current year dollars

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Exports - partners

Japan 17%, South Korea 16%, India 14%, China 13%, Singapore 7% (2019)

Exports - commodities

natural gas, crude petroleum, refined petroleum, ethylene polymers, fertilizers (2019)

Imports

$61.204 billion (2021 est.) note: data are in current year dollars

$59.065 billion (2020 est.) note: data are in current year dollars

$66.77 billion (2019 est.) note: data are in current year dollars

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Imports - partners

United States 15%, France 13%, United Kingdom 9%, China 9%, Germany 5%, Italy 5% (2019)

Imports - commodities

aircraft, gas turbines, cars, jewelry, iron piping (2019)

Reserves of foreign exchange and gold

$42.213 billion (31 December 2021 est.)

$40.973 billion (31 December 2020 est.)

$39.718 billion (31 December 2019 est.)

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Debt - external

$167.8 billion (31 December 2017 est.)

$157.9 billion (31 December 2016 est.)

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Exchange rates

Qatari rials (QAR) per US dollar -

3.64 (2021 est.)

3.64 (2020 est.)

3.64 (2019 est.)

3.64 (2018 est.)

3.64 (2017 est.)

NOTE: The information regarding Qatar on this page is re-published from the 2023 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Qatar 2023 information contained here. All suggestions for corrections of any errors about Qatar 2023 should be addressed to the CIA or the source cited on each page.