Qatar Economy—overview: Oil is the backbone of the economy and accounts for more than 30% of GDP roughly 70% of export earnings and 66% of government revenues. Proved oil reserves of 3.7 billion barrels should ensure continued output at current levels for 23 years. Oil has given Qatar a per capita GDP comparable to the leading West European industrial countries. Qatar's proved reserves of natural gas exceed 7 trillion cubic meters more than 5% of the world total third largest in the world. Production and export of natural gas are becoming increasingly important. Long-term goals feature the development of off-shore petroleum and the diversification of the economy. GDP: purchasing power parity—$11.2 billion (1997 est.) GDP—real growth rate: 10% (1997 est.) GDP—per capita: purchasing power parity—$16 700 (1997 est.) GDP—composition by sector: agriculture: 1% industry: 49% services: 50% (1996 est.) Inflation rate—consumer price index: 2.5% (1996) Labor force: total: 233 000 (1993 est.) note: 83% of the population in the 15-64 age group is non-national (July 1997 est.) Unemployment rate: NA% Budget: revenues: $3.7 billion expenditures: $4.5 billion including capital expenditures of $700 million (FY97/98 est.) Industries: crude oil production and refining fertilizers petrochemicals steel reinforcing bars cement Industrial production growth rate: -4% (1995) Electricity—capacity: 1.303 million kW (1995) Electricity—production: 5.8 billion kWh (1995) Electricity—consumption per capita: 10 863 kWh (1995) Agriculture—products: fruits vegetables; poultry dairy products beef; fish (all on small scale) Exports: total value: $5.8 billion (f.o.b. 1997 est.) commodities: petroleum products 80% fertilizers steel partners: Japan 55% Singapore 11% South Korea 6% Australia 3% UAE 3% (1996) Imports: total value: $5 billion (f.o.b. 1997 est.) commodities: machinery and equipment consumer goods food chemicals partners: Italy 14% UK 12% France 11% Japan 10% Germany 9% (1996) Debt—external: $11 billion (1997 est.) Economic aid: $NA Currency: 1 Qatari riyal (QR) = 100 dirhams Exchange rates: Qatari riyals (QR) per US$1—3.6400 riyals (fixed rate) Fiscal year: 1 April—31 March
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