US-QATAR business council

Today, the development of Qatar’s oil and natural gas revenues enable it s citizens to enjoy perhaps the highest per capita income in the world. Investment in Qatari infrastructure and industry has reached a fever pitch Qatar has become a major overseas investor as well. Today, Qatar is the best example of a country that can punch well above its weight.

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 one of the world's faster growing and higher per-capita income countries - in 2006 per-capita income equaled that of the EU.

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 23 years.

Qatar's proved reserves of natural gas exceed 25 trillion cubic meters, more than 5% 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 is expected to become the world's top liquefied natural gas (LNG) exporter in 2007.

Qatar is also trying to attract foreign investment in the development of its non-energy projects by further liberalizing the economy.

GDP (purchasing power parity): 57.69 billion (2007 est)
GDP - real growth rate: 7.8% (2007 est.)
GDP - per capita (PPP): $75,900 (2007 est.)
GDP - composition by sector:
agriculture: 0.1%
industry: 73.5%
services: 26.4% (2007 est.)
Population 907,229
Labor force:508,000 (2006 est.)
Unemployment rate: 0.7% (2007 est.)
Budget:
revenues: $22.51 billion
expenditures: $16.89 billion; including capital expenditures of $2.2 billion (2006 est.)
Budget revenues: $23.5 billion
Budget expenditures: $19.6 billion
Currency: Qatari riyal (QAR)
Fx: 3.64 rial / USDollar
Inflation: 13.7%
Investment: 43.5% GDP
Industries: crude oil production and refining, ammonia, fertilizers, petrochemicals, steel reinforcing bars, cement, commercial ship repair