Economy - overview Oil is the backbone of the economy and accounts for more than 30% of GDP, roughly 70% of export earnings, and 66% of government revenues. Proved oil reserves of 3.7 billion barrels should ensure continued output at current levels for 23 years. Oil has given Qatar a per capita GDP comparable to the leading West European industrial countries. Qatar's proved reserves of natural gas exceed 7 trillion cubic meters, more than 5% of the world total, third largest in the world. Production and export of natural gas are becoming increasingly important. Long-term goals feature the development of off-shore petroleum and the diversification of the economy.

GDP purchasing power parity - $11.2 billion (1997 est.)

GDP - real growth rate 10% (1997 est.)

GDP - per capita purchasing power parity - $16,700 (1997 est.)

GDP - composition by sector
agriculture: 1%
industry: 49%
services: 50% (1996 est.)

Inflation rate - consumer price index 2.5% (1996)

Labor force
total: 233,000 (1993 est.)
note: 83% of the population in the 15-64 age group is non-national (July 1997 est.)

Unemployment rate NA%

Budget
revenues: $3.7 billion
expenditures: $4.5 billion, including capital expenditures of $700 million (FY97/98 est.)

Industries crude oil production and refining, fertilizers, petrochemicals, steel reinforcing bars, cement

Industrial production growth rate -4% (1995)

Electricity - capacity 1.303 million kW (1995)

Electricity - production 5.8 billion kWh (1995)

Electricity - consumption per capita 10,863 kWh (1995)

Agriculture - products fruits, vegetables; poultry, dairy products, beef; fish (all on small scale)

Exports
total value: $5.8 billion (f.o.b., 1997 est.)
commodities: petroleum products 80%, fertilizers, steel
partners: Japan 55%, Singapore 11%, South Korea 6%, Australia 3%, UAE 3% (1996)

Imports
total value: $5 billion (f.o.b., 1997 est.)
commodities: machinery and equipment, consumer goods, food, chemicals
partners: Italy 14%, UK 12%, France 11%, Japan 10%, Germany 9% (1996)

Debt - external $11 billion (1997 est.)

Economic aid $NA

Currency 1 Qatari riyal (QR) = 100 dirhams

Exchange rates Qatari riyals (QR) per US$1 - 3.6400 riyals (fixed rate)

Fiscal year 1 April - 31 March

NOTE: The information regarding Qatar on this page is re-published from the 1998 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Qatar Economy 1998 information contained here. All suggestions for corrections of any errors about Qatar Economy 1998 should be addressed to the CIA.