Indicators of economy in Qatar

Impact of the COVID-19 pandemic

The consequences of the COVID pandemic in 2020 were considerable in Qatar. Overall, gross domestic product in 2020 fell from 175.84 billion US dollars to 144.41 billion US dollars. With a large drop of 17.87 percent, the economy in Qatar has struggled significantly more than other countries. The tourism sector alone slumped by around 8 percent. The unemployment rate rose from 0.1 to 0.1 percent. The country's gross debt fell by 5.9 percent. The inflation rate fell from -0.7 percent previously to -2.5 percent by the end of 2020.

In 2021, there was already a recovery and the gross domestic product increased to 179.68 billion US dollars (=102.2% of 2019).

Income and purchasing power

The average monthly income in Qatar is 5,193 US Dollar per capita. In the USA, the figure is 5,911 US Dollar. However, the prices of consumer goods are also around 30.5 percent lower than in the USA. If you compare income and price level, the result is a cheaper life in Qatar than in the USA. In the end, the lower costs cancel out the lower income and you get about 26.3 percent more for the typical income in the country.

However, it is also important to remember that this is a purely statistical model. Both the labor output and the type and quality of the goods received always correspond to the national average on both sides of the equation - so they do not necessarily have to match. Here you can also find an international comparison of cost of living and purchasing power.

Unemployment rates in percentages 1991 - 2022

Economic performance 2021

In the Global Innovation Index, Qatar ranked 52nd in 2022 with 32.9 points. The index is calculated annually by the World Intellectual Property Organization (WIPO) and most recently included 132 countries. The top country was Switzerland with 64.6 points. Out of the 2,000 largest listed companies in the world, 5 originate from Qatar. This is determined annually in the Forbes Global 2000 list. The 5 largest companies in the country in 2022 were:

Rank 252: Qatar National Bank (Doha)
Rank 964: Qatar Islamic Bank (Doha)
Rank 1038: Industries Qatar (Doha)
Rank 1400: Masraf Al Rayan (Doha)
Rank 1527: Commercial Bank of Qatar (Doha)

Development of gross domestic product in billions of USD 1970 - 2021

Imports and Exports 2021

Development of imports and exports in billions of USD 2011 - 2021