Economy - overview Oil is the backbone of the economy and accounts for more than 30% ofGDP, roughly 80% of export earnings, and 66% of government revenues. Provedoil reserves of 3.7 billion barrels should ensure continued output at currentlevels for about 23 years. Oil has given Qatar a per capita GDP comparableto the leading West European industrial countries. Qatar's proved reserves of natural gas exceed 7 trillion cubic meters, more than 5% of the worldtotal, third largest in the world. Production and export of natural gas arebecoming increasingly important. Long-term goals feature the development ofoff-shore petroleum and the diversification of the economy.

GDP purchasing power parity - $11.7 billion (1996 est.)

GDP - real growth rate 2.5% (1996 est.)

GDP - per capita purchasing power parity - $21,300 (1996 est.)

GDP - composition by sector
agriculture: 1%
industry: 45%
services: 54% (1993 est.)

Inflation rate - consumer price index 1.2% (1995)

Labor force
total: 233,000 (1993 est.)
note: 83.49% of the population in the 15-64 age group is non-national (July1997 est.)

Unemployment rate NA%

Budget
revenues : $3 billion
expenditures: $3.8 billion, including capital expenditures of $NA (FY96/97)

Industries crude oil production and refining, fertilizers, petrochemicals, steelreinforcing bars, cement

Industrial production growth rate NA%

Electricity - capacity 1.3 million kW (1994)

Electricity - production 5.5 billion kWh (1994)

Electricity - consumption per capita 10,095 kWh (1995 est.)

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

Exports
total value: $4 billion (f.o.b., 1996 est.)
commodities: petroleum products 80%, steel, fertilizers
partners: Japan 54%, Singapore 7%, South Korea 6%, Australia 3%, UAE 3% (1995est.)

Imports
total value: $4.4 billion (f.o.b., 1996 est.)
commodities : machinery and equipment, consumer goods, food, chemicals
partners: Italy 16%, Germany 11%, Japan 10%, UK 9%, France 9% (1995 est.)

Debt - external $5.7 billion (1995 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 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Qatar Economy 1997 information contained here. All suggestions for corrections of any errors about Qatar Economy 1997 should be addressed to the CIA.