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Economy of Qatar

Qatar is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developing nation, Qatar may not be able to offer consistent social services to its citizens. These social services may include things like public education, reliable healthcare, and law enforcement. Citizens of developing nations may have lower life expectancies than citizens of developed nations. Each year, Qatar exports around $12.7 billion and imports roughly $39.58 billion. 0.2% of population in the country are unemployed. The total number of unemployed people in Qatar is 5,390. Government expenditure on education is 4.1% of GDP. The Gini Index of the country is 41.1. Qatar is experiencing poor equality. The gap between the richest and poorest citizens in this country is quite noticeable. Qatar has a Human Development Index (HDI) of 0.851. Qatar has a very high HDI score. This indicates that nearly all citizens are able to attain a desirable life because of social and economic support; citizens with a low standard of living receive aid and support and have the opportunity to advance in society. The Global Peace Index (GPI) for Qatar is 1.568. Due to strong law enforcement presence and high social responsibility, Qatar is very safe by international standards. The strength of legal rights index for Qatar is 1. Overall, it is considered to be rather weak - bankrupcy and collateral laws are unable to protect the rights of borrowers and lenders in case of credit-related complications; credit information, if any at all, is scarce and hardly accessible.

Currency

The currency of Qatar is Qatari riyal. The plural form of the word Qatari riyal is riyals. The symbol used for this currency is ر.ق, and it is abbreviated as QAR. The Qatari riyal is divided into Dirham; there are 100 in one riyal.

Credit rating

The depth of credit information index for Qatar is 5, which means that information is usually sufficient and quite accessible, although occasionally some necessary details may be lacking. According to the S&P credit-rating agency, Qatar has a credit rating score of AA, and the prospects of this rating are stable. According to the Moody's credit-rating agency, Qatar has a credit rating score of Aa2, and the prospects of this rating are stable.

Central bank

In Qatar, the institution that manages the state's currency, money supply, and interest rates is called Qatar Central Bank. Locally, the central bank of Qatar is called مصرف قطر المركزي. The average deposit interest rate offered by local banks in Qatar is 1.4%.

Public debt

Qatar has a government debt of 70% of the country's Gross Domestic Product (GDP), as assessed in 2013.

Tax information

The corporate tax in Qatar is set at 10%. Personal income tax ranges from 0% to 0%, depending on your specific situation and income level. VAT in Qatar is 0%.

Finances

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Qatar is $306616 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Qatar was last recorded at $114 million. PPP in Qatar is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Qatar is 202,450 billion. Based on this statistic, Qatar is considered to have a medium economy. Countries with medium economies support an average number of industries and opportunities for investment. It should not be too difficult to find worthwhile investment opportunities in medium economies. The Gross Domestic Product (GDP) per capita in Qatar was last recorded at $75 million. The average citizen in Qatar has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Qatar averaged 6.5% in 2014. According to this percentage, Qatar is currently experiencing significant growth. Countries that are experiencing significant growth offer the best chance for a substantial return on investment, as GDP growth rate is the most important indicator of economic health. As GDP grows, business, jobs, and personal income grow as well. To read more about financial information click on finances of Qatar.

Industry

Major industries in the country are liquefied natural gas, crude oil production and refining, ammonia, fertilizers, petrochemicals, steel reinforcing bars, cement, commercial ship repair. The total labor force of Qatar is 1,974,370 people, wherein 0.2% of population in the country are unemployed. The total number of unemployed people in Qatar is 5,390. The Industrial Production growth rate of Qatar is 2.9%.To read more about industrial information within Qatar click on industry of Qatar.

Agriculture

There are 188 km2 of arable land in Qatar, and it comprises 2% of the country's total territory. There are 219 km2 of cultivated land in Qatar. The country's major agricultural crops and products are fruits, vegetables, poultry, dairy products, beef, fish.To read more about agriculture click on agriculture of Qatar.