Qatar Economy - 2004

Economy - overview:
Oil and gas account for more than 55% of GDP, roughly 85% of export earnings, and 70% of government revenues. Oil and gas have given Qatar a per capita GDP about 80% of that of the leading West European industrial countries. Proved oil reserves of 14.5 billion barrels should ensure continued output at current levels for 23 years. Qatar's proved reserves of natural gas exceed 17.9 trillion cubic meters, more than 5% of the world total and third largest in the world. Long-term goals feature the development of offshore natural gas reserves to offset the ultimate decline in oil production. Since 2000, Qatar has consistently posted trade surpluses largely because of high oil prices and increased natural gas exports.

GDP:
purchasing power parity - $17.54 billion (2003 est.)

GDP - real growth rate:
8.5% (2003 est.)

GDP - per capita:
purchasing power parity - $21,500 (2003 est.)

GDP - composition by sector:
agriculture: 0.4%
industry: 64.7%
services: 34.9% (2002 est.)

Population below poverty line:
NA% (1999 est.)

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices):
2% (2003)

Labor force:
280,122 (1997 est.)

Unemployment rate:
2.7% (2001)

Budget:
revenues: $5 billion
expenditures: $5.5 billion, including capital expenditures of $2.2 billion (FY02/03 est.)

Industries:
crude oil production and refining, fertilizers, petrochemicals, steel reinforcing bars, cement

Industrial production growth rate:
10% (2003 est.)

Electricity - production:
9.264 billion kWh (2001)

Electricity - production by source:
fossil fuel: 100%
hydro: 0%
other: 0% (2001)
nuclear: 0%

Electricity - consumption:
8.616 billion kWh (2001)

Electricity - exports:
0 kWh (2001)

Electricity - imports:
0 kWh (2001)

Oil - production:
864,200 bbl/day (2001 est.)

Oil - consumption:
29,000 bbl/day (2001 est.)

Oil - exports:
NA

Oil - imports:
NA

Oil - proved reserves:
14.51 billion bbl (1 January 2002)

Natural gas - production:
32.4 billion cu m (2001 est.)

Natural gas - consumption:
15.86 billion cu m (2001 est.)

Natural gas - exports:
16.54 billion cu m (2001 est.)

Natural gas - imports:
0 cu m (2001 est.)

Natural gas - proved reserves:
17.93 trillion cu m (1 January 2002)

Agriculture - products:
fruits, vegetables; poultry, dairy products, beef; fish

Exports:
$12.36 billion f.o.b. (2003 est.)

Exports - commodities:
petroleum products, fertilizers, steel

Exports - partners:
Japan 41.2%, South Korea 17.1%, Singapore 8.4%, US 4.2% (2002)

Imports:
$5.711 billion f.o.b. (2003 est.)

Imports - commodities:
machinery and transport equipment, food, chemicals

Imports - partners:
France 17.8%, Japan 10.1%, US 8.5%, UK 8.3%, Germany 8.2%, Italy 6.7%, UAE 5.1%, Saudi Arabia 4.2%, South Korea 4% (2002)

Debt - external:
$16.2 billion (2003 est.)

Economic aid - recipient:
$NA (2000)

Currency:
Qatari rial (QAR)

Currency code:
QAR

Exchange rates:
Qatari rials per US dollar - 3.64 (2003), 3.64 (2002), 3.64 (2001), 3.64 (2000), 3.64 (1999)