Qatar’s Economy: Overview
While remaining a leader in LNG and oil production, Qatar has expanded its economy on projects for infrastructure, construction, and health services. Qatar is leading the way in energy production, water treatment, and IT infrastructure and remains a strong trading partner to the United States— creating opportunities for trade and investment across all sectors.
$35 Billion: in projects including infrastructure, energy, and real estate. Qatar Investment Authority (QIA), the State’s sovereign wealth fund, worth more than $250 billion. The State donated $100 million to New Orleans to rebuild after Hurricane Katrina, and QIA invested $1.5 billion in the construction of CityCenterDC. Qatar Petroleum invested $2 billion in the construction of the Golden Pass LNG facility in Texas.
Education in Qatar
Six Prestigious Institutions: Weill Medical College (Cornell University), Carnegie Mellon University, Georgetown University, Virginia Commonwealth University, Northwestern University, and Texas A&M University all have satellite campuses in Qatar’s Education City— a world-class learning and research center. Qatar spends over $875 million annually funding research and development.
$4 Billion:Qatar spends over 2% of its $211.8 billion GDP on healthcare; more than $4 billion. Qatar’s National Health Strategy is a comprehensive plan to fully develop the State’s healthcare system as part of the Qatar National Vision 2030. In the GCC, Qatar ranks number one in terms of per capita healthcare spending, and is pushing to become a medical research leader in the region.
World Cup 2022
$200 Billion: Qatar will host the World Cup in 2022 and is investing nearly $200 billion in infrastructure, will not only be used for the World Cup, but for the development of Qatar for years after.
Download USQBC’s Fact Sheet Here
GDP (Purchasing Power Parity): $191 Billion
GDP – real growth rate: 6.6%
GDP – per capita (PPP): $103,900
GDP – composition by sector:
- Agriculture: 0.1%
- Industry: 73.6%
- Services: 26.3%
Labor force: 1.43 Million
Unemployment rate: 0.5%
Budget Revenues: $69.76 Billion
Budget Expenditures: $49.32 Billion
Currency: Qatari riyal (QAR) Fx: 3.64 QAR / $1
Investment: 30.6% of GDP
Industries: Liquid Natural Gas, Crude Oil Production and Refining, Ammonia, Fertilizers, Petrochemicals, Steel Reinforcing Bars, Cement, Commercial Ship Repair
Information on Qatar’s exchange rate policy to the US dollar can be found here.