Qatar has the highest growth rate in the region at nearly 16 percent in 2008 and 10 percent in 2009 despite the global economic crisis.

In 2010 and 2011, Qatar’s growth is projected to be between 16% and 18%, probably the highest growth rate in the world.

Qatar’s GDP reached US$ 95.3 billion in 2009 – a fivefold increase within six years. The emirate has one of the highest GDP per capita in the world (around US$ 60,000 in 2009, including immigrant populations).

The distribution of the gas wealth satisfies the people, who have no specific demands.

Given the economic and financial situation in the country, Qatar seems to be immune to protests similar to those that occurred in some countries of the region in early 2011.

Qatar, which holds the world’s third largest gas reserves (14%, after Russia 27% and Iran 15%), is boosting its overall production capacity, especially for Liquefied Natural Gas (LNG), the production of which increased from 31 million tons a year in early 2009 to 77 million tons annually in early 2011, accounting for 30 percent of the world’s production. Qatar shares the world’s largest gas field (known as the "North Dome" ) with Iran. In just a few years, it has become the world’s leading exporter of liquefied natural gas, far ahead of Russia, Canada and Norway. Qatar also aims to become theworld’s biggest producer of GTL ("Gas-To-Liquids": a technology for converting carbon compounds such as coal and natural gas into petroleum products).

 

Key Economic Figures

 

Currency:

Qatari Riyal (QAR) = € 0.19 and US$ 0.27 (June 2011)

 

Gross Domestic Product:

Qatar’s GDP reached US$ 95.3 billion in 2009.

GDP per capita: Qatar ranks first worldwide in 2010, showing a rise of 12.7 percent between 2009 and 2010.

2009: US$ 78,260
2010: US$ 88,233

 

Inflation Rate:

IMF, 2008: +15% 

 

Budget Balance:

Forecast 2010: 9.0% of GDP

 

To make profitable use of the country’s huge financial surpluses, a state-run agency – the Qatar Investment Authority (QIA) – was founded by the State of Qatar in 2005 to manage investments abroad.