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Qatar – Important Facts

Qatar is a country in the Middle East occupying the Qatar Peninsula on the larger Arabian Peninsula. It is bordered by Saudi Arabia and the Persian Gulf. Much of the country is desert. The government system is an emirate; the chief of state is the amir, or sheikh, and the head of government is the prime minister. Qatar is a member of the League of Arab States (Arab League) and the Gulf Cooperation Council (GCC).

GDP is driven largely by the oil and gas sector; however, growth in manufacturing, construction, and financial services have lifted the non-oil sectors to just over half of Qatar’s nominal GDP. Economic policy is focused on sustaining Qatar’s non-associated natural gas reserves and increasing private and foreign investment in non-energy sectors, but oil and gas still account for roughly 92% of export earnings, and 56% of government revenues. Oil and gas have made Qatar the world’s highest per-capita income country and the country with the lowest unemployment. Proved oil reserves in excess of 25 billion barrels should enable continued output at current levels for about 56 years.

Qatar’s proved reserves of natural gas exceed 25 trillion cubic meters, about 13% of the world total and third largest in the world. Qatar’s successful 2022 World Cup bid is accelerating large-scale infrastructure projects such as its metro system, light rail system, construction of a new port, roads, stadiums and related sporting infrastructure.

Important Details

  • Country ISO3 : QAT
  • Country Code : 634
  • Income Group : High income
  • Lending Category : NA
  • Region : Middle East & North Africa
  • Currency Unit: Qatari riyal
  • WTO Member : Yes
  • Trade organisations : OPEC, WTO
  • world rank : 34
  • Regional Ranking : 3rd in the Middle East/North Africa Region