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Qatar:
Economy

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Economy - overview
Definition
Qatar is in the midst of an economic boom supported by its expanding production of natural gas and oil. Economic policy is focused on development of Qatar's nonassociated natural gas reserves and increasing private and foreign investment in non-energy sectors. Oil and gas account for more than 60% of GDP, roughly 85% of export earnings, and 70% of government revenues. Oil and gas have made Qatar the highest per-capita income country and one of the world's fastest growing. Sustained high oil prices and increased natural gas exports in recent years have helped build Qatar's budget and trade surpluses and foreign reserves. Proved oil reserves of more than 15 billion barrels should ensure continued output at current levels for 22 years. Qatar's proved reserves of natural gas are roughly 25 trillion cubic meters, about 15% of the world total and third largest in the world. Qatar has permitted substantial foreign investment in the development of its gas fields during the last decade and became the world's top liquefied natural gas (LNG) exporter in 2007.
GDP (purchasing power parity)
Definition - World rank and map
$57.69 billion (2007)
GDP (official exchange rate)
Definition
$67.76 billion (2007 est.)
GDP - real growth rate
Definition - World rank and map
14.2% (2007 est.)
GDP - per capita
Definition - World rank and map
$80,900 (2007 est.)
GDP - composition by sector
Definition
agriculture: 0.1%
industry: 71.2%
services: 28.7% (2007 est.)
Labor force
Definition
638,000 (2007 est.)
Unemployment rate
Definition - World rank and map
0.7% (2007 est.)
Population below poverty line
Definition
NA%
Household income or consumption by percentage share
Definition
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices)
Definition - World rank and map
13.8% (2007 est.)
Investment (gross fixed)
Definition - World rank and map
46.1% of GDP (2007 est.)
Budget
Definition
revenues: $27.22 billion
expenditures: $22.55 billion (2007 est.)
Public debt
Definition - World rank and map
11.7% of GDP (2007 est.)
Agriculture - products
Definition
fruits, vegetables; poultry, dairy products, beef; fish
Industries
Definition
crude oil production and refining, ammonia, fertilizers, petrochemicals, steel reinforcing bars, cement, commercial ship repair
Industrial production growth rate
Definition - World rank and map
8% (2007 est.)
Electricity - production
Definition - World rank and map
13.54 billion kWh (2005)
Electricity - consumption
Definition - World rank and map
12.52 billion kWh (2005)
Electricity - consumption per capita
Definition - World rank and map
13,482.2 kWh (2005)
Electricity - exports
Definition
0 kWh (2005)
Electricity - imports
Definition
0 kWh (2005)
Oil - production
Definition - World rank and map
1.111 million bbl/day (2005 est.)
Oil - consumption
Definition - World rank and map
95,000 bbl/day (2005 est.)
Oil - consumption per 1,000 people
Definition - World rank and map
102.3 bbl/day (2005 est.)
Oil - exports
Definition - World rank and map
960,600 bbl/day (2004)
Oil - imports
Definition - World rank and map
0 bbl/day (2004)
Oil - proved reserves
Definition - World rank and map
15.2 billion bbl (2007 est.)
Natural gas - production
Definition - World rank and map
43.93 billion cu m (2005 est.)
Natural gas - consumption
Definition - World rank and map
17.93 billion cu m (2005 est.)
Natural gas - consumption per capita
Definition - World rank and map
19,308 cu m (2005 est.)
Natural gas - exports
Definition - World rank and map
25.99 billion cu m (2005 est.)
Natural gas - imports
Definition - World rank and map
0 cu m (2005)
Natural gas - proved reserves
Definition - World rank and map
25.79 trillion cu m (1 January 2007 est.)
Current account balance
Definition - World rank and map
$23.44 billion (2007 est.)
Exports
Definition - World rank and map
$37.95 billion f.o.b. (2007 est.)
Exports - commodities
Definition
liquefied natural gas (LNG), petroleum products, fertilizers, steel
Exports - partners
Definition
Japan 50.1%, Singapore 12.4%, India 6.5%, Thailand 6.1%, UAE 5% (2006)
Imports
Definition - World rank and map
$19.86 billion f.o.b. (2007 est.)
Imports - commodities
Definition
machinery and transport equipment, food, chemicals
Imports - partners
Definition
US 14.2%, Italy 11.5%, Japan 9.5%, France 8.4%, Germany 7.8%, UK 6.1%, UAE 5.5%, Saudi Arabia 4.6% (2006)
Reserves of foreign exchange and gold
Definition - World rank and map
$9.788 billion (31 December 2007 est.)
Debt - external
Definition - World rank and map
$33.09 billion (31 December 2007 est.)
Stock of direct foreign investment - at home
Definition
$11.18 billion (2007 est.)
Stock of direct foreign investment - abroad
Definition
$5.625 billion (2007 est.)
Market value of publicly traded shares
Definition
$61.56 billion (2006)
Economic aid - recipient
Definition
$2.18 million (2004)
Currency (code)
Definition
Qatari rial (QAR)
Exchange rates
Definition
Qatari rials per US dollar - 3.64 (2007), 3.64 (2006), 3.64 (2005), 3.64 (2004), 3.64 (2003)
Fiscal year
Definition
1 April - 31 March


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