The Qatari Economy
Qatar has one of the fastest growing economies in the world. According to the IMF World Economic Outlook Database, Qatar is now the wealthiest country in the world per capita. In 2011 it had a GDP per capita of USD 98,031. In 2012 this figure is projected to increase to USD $99,731.
Economic statistics for Qatar
|2011||2012 (Projected)||2013 (Projected)|
|GDP growth in real terms||13%||6.6%||5.2%|
|GDP per capita||USD 98,031||USD 99,731||USD 98,737|
|Consumer price inflation||1.9%||1.9%||3.0%|
Source: IMF World Economic Outlook database
Importance of Oil and Gas sector
The oil and gas sector underpins the growth that Qatar has experienced. Qatar has the third largest proven gas reserves in the world and gas production in Qatar has increased from 24 billion cubic meters in 2000 to 147 billion cubic meters in 2011. (Source: British Petroleum, Statistical review of World Energy 2012).
The oil and gas sector remains by far the largest sector in Qatar, accounting for over 50% of total GDP in 2010. The relative importance of the other sectors can be seen in the pie-chart below:
Source: Qatar Statistics Authority