19,576
edits
Changes
→Economy
The country's economic growth has been stunning. Qatar's nominal GDP, currently around $52.7 billion, has grown an average of 15% over the past five years. GDP is expected to grow approximately 8.3% in 2007. Qatar's per capita GDP is more than $60,000, and projected to soon be the highest in the world. The Qatari Government's strategy is to utilize its wealth to generate more wealth by diversifying the economic base of the country beyond hydrocarbons.
The country's economic growth has been stunning. Qatar's nominal GDP, currently around $52.7 billion, has grown an average of 15% over the past five years. GDP is expected to grow approximately 8.3% in 2007. Qatar's per capita GDP is more than $60,000, and projected to soon be the highest in the world. The Qatari Government's strategy is to utilize its wealth to generate more wealth by diversifying the economic base of the country beyond hydrocarbons.
Qatar pursues a vigorous program of "Qatarization," under which all joint venture industries and government departments strive to move Qatari nationals into positions of greater authority. Growing numbers of foreign-educated Qataris, including many educated in the U.S., are returning home to assume key positions formerly occupied by expatriates. In order to control the influx of expatriate workers, Qatar has tightened the administration of its foreign manpower programs over the past several years. Security is the principal basis for Qatar's strict entry and immigration rules and regulations.
Qatar pursues a vigorous program of "Qatarization," under which all joint venture industries and government departments strive to move Qatari nationals into positions of greater authority. Growing numbers of foreign-educated Qataris, including many educated in the U.S., are returning home to assume key positions formerly occupied by expatriates. In order to control the influx of expatriate workers, Qatar has tightened the administration of its foreign manpower programs over the past several years. Security is the principal basis for Qatar's strict entry and immigration rules and regulations.
<blockquote>
For 2011, despite the global financial crisis, Qatar has maintained its economic growth of the last several years. Qatari authorities throughout the crisis sought to protect the local banking sector with direct investments into domestic banks. GDP rebounded in 2010 largely due to the increase in oil prices. Economic policy is focused on developing Qatar's nonassociated natural gas reserves and increasing private and foreign investment in non-energy sectors, but oil and gas still account for more than 50% of GDP, roughly 85% of export earnings, and 70% of government revenues. Oil and gas have made Qatar the second highest per-capita income country - following Liechtenstein - and the world's second fastest growing - following Macau. Proved oil reserves of 15 billion barrels should enable continued output at current levels for 37 years. Qatar's proved reserves of natural gas exceed 25 trillion cubic meters, about 14% of the world total and third largest in the world. Qatar's successful 2022 world cup bid will likely accelerate large-scale infrastructure projects such as Qatar's metro system and the Qatar-Bahrain causeway. GDP - per capita:
$145,300 (2010 est.); Country comparison to the world: 1; GDP (official exchange rate): $126.5 billion (2009 est.). Agriculture - products: fruits, vegetables; poultry, dairy products, beef; fish; Industries: liquefied natural gas, crude oil production and refining, ammonia, fertilizers, petrochemicals, steel reinforcing bars, cement, commercial ship repair. Oil - proved reserves:
25.41 billion bbl (1 January 2010 est.) country comparison to the world: 12
<ref> [http://www.theodora.com/wfbcurrent/qatar/qatar_economy.html] </ref>
</blockquote>
==History==
==History==