The museum of Islamic Art in Doha, Qatar

Qatar Economy

Qatar's economy in numbers:

Nominal GDP of USD 236 billion in 2022.

GDP per capita of USD 83,416 compared to the global average of USD 10,589.

Average real GDP growth of 0.5% over the last decade.

Share of the region's population
Share of the region's GDP

Economic structure:

In 2021, services accounted for 40% of overall GDP, manufacturing 9%, other industrial activity 51%, and agriculture 0%. Looking at GDP by expenditure, private consumption accounted for 27% of GDP in 2020, government consumption 24%, fixed investment 43%, and net exports 6%.

GDP by economic sector
GDP by type of expenditure

International trade:

In 2020, manufactured products made up 13% of total merchandise exports, mineral fuels 82%, food 0%, ores and metals 3% and agricultural raw materials 0%, with other categories accounting for 2% of the total. In the same period, manufactured products made up 78% of total merchandise imports, mineral fuels 1%, food 12%, ores and metals 4% and agricultural raw materials 0%, with other goods accounting for 5% of the total. Total exports were worth USD 131 billion in 2022, while total imports were USD 34 billion.

Key exports
Key imports
Key export partners
Key import partners

Economic growth:

The economy recorded average annual growth of 2.4% in the decade to 2022. To read more about GDP growth in Qatar, go to our dedicated page.

Fiscal policy:

Qatar's fiscal surplus averaged 3.2% of GDP in the decade to 2022. Find out more on our dedicated page.

Unemployment:

The unemployment rate averaged 0.2% in the decade to 2022. For more information on Qatar's unemployment click here.

Inflation:

Inflation averaged 1.6% in the decade to 2022. Go to our Qatar inflation page for extra insight.

Monetary Policy:

Qatar's monetary policy rate ended 2022 at 5.50%, up from 4.50% a decade earlier. See our Qatar monetary policy page for additional details.

Exchange Rate:

From end-2012 to end-2022 the rial stayed on the same level vs the U.S. dollar. For more info on the rial, click here.
The economy notched a modest expansion in the first six months of the year. Available data suggests a similar level of performance in the third quarter; on the one hand, weaker readings for growth in energy output and construction permits will likely be offset by stronger PMI readings and visitor arrivals shooting above pre-pandemic levels. Turning to Q4, available data is downbeat; energy output sank at the sharpest rate since February 2022 in October and continued to fall in November, while PMI data suggests that the non-oil sector stagnated over the quarter as a whole. In other news, Moody’s recently upgraded Qatar’s credit rating one level to its third-highest investment grade—on a par with France and the UAE. In making its decision, Moody’s noted the country’s solid fiscal metrics and rising LNG production.
Projections out to 2033.

43 indicators covered including both annual and quarterly frequencies.

Consensus Forecasts based on a panel of 23 expert analysts.

Want to get insight on the economic outlook for Qatar in the coming years? FocusEconomics collects projections out to 2033 on 43 economic indicators for Qatar from a panel of 23 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Qatar economy. To download a sample report on the Qatar's economy, click here . To get in touch with our team for more information, fill in the form at the bottom of this page .

Qatar Economic Data

2018 2019 2020 2021 2022
Population (million) 2.8 2.8 2.8 2.7 2.8
GDP (USD bn) 183 176 144 180 236
GDP per capita (USD) 66,407 62,993 50,941 65,383 83,416
GDP (QAR bn) 667 642 526 654 860
Economic Growth (Nominal GDP, ann. var. %) 13.8 -3.8 -18.1 24.5 31.5
Economic Growth (GDP, ann. var. %) 1.2 0.7 -3.6 1.6 4.2
Economic Growth (GDP Oil, ann. var. %) -0.3 -1.7 -2.0 -0.3 1.7
Private Consumption (ann. var. %) 2.1 2.9 -10.5 - -
Government Consumption (ann. var. %) 1.5 8.3 4.4 - -
Total Investment (ann. var. %) 7.1 1.5 -10.4 - -
Exports (G&S, ann. var. %) -1.2 -2.2 -1.5 - -
Imports (G&S, ann. var. %) 4.6 1.9 -8.9 - -
Industry (ann. var. %) 0.8 -1.6 -3.0 0.7 1.7
Unemployment (% of active population, aop) 0.1 0.1 0.1 0.2 0.1
Fiscal Balance (% of GDP) 2.3 1.1 -2.0 0.2 10.3
Public Debt (% of GDP) 52.2 62.1 72.6 58.4 42.4
Money (ann. var. of M2 %) -6.5 2.5 3.8 1.4 17.4
Inflation (CPI, ann. var. %, aop) 0.3 -0.7 -2.8 2.3 5.0
Overnight Lending Rate (%, eop) 5.00 4.25 2.50 2.50 5.50
Exchange Rate (QAR per USD, eop) 3.64 3.64 3.64 3.64 3.64
Current Account Balance (USD bn) 16.6 4.3 -3.6 26.3 63.1
Current Account Balance (% of GDP) 9.1 2.4 -2.5 14.6 26.7
Merchandise Trade Balance (USD bn) 51.0 41.6 27.1 60.3 97.4
Merchandise Exports (USD bn) 84.3 72.9 51.5 87.2 130.9
Merchandise Imports (USD bn) 33.3 31.3 24.4 26.9 33.5
Merchandise Exports (ann. var. %) 25.0 -13.5 -29.4 69.3 50.2
Merchandise Imports (ann. var. %) 8.3 -5.9 -22.3 10.2 24.8
International Reserves (USD bn) 30.4 39.7 41.0 42.2 47.4
International Reserves (months of imports) 10.9 15.2 20.2 18.9 17.0

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