Qatar is a country located on the Persian Gulf, and they have a booming economy thanks to the abundance of natural resources that are used for energy. Their Gross Domestic Product per capita is an astounding $127,700, which makes it the highest in the region by a wide margin. In comparison to the United States, Qatar is about double. This could be for a variety of reasons, like population size. The United States has a population of 329.5 million people, while Qatar only has 2.881 million. Although they are a small country, they are still in the top 15 producers of oil and 6th for natural gas. Since these two energy sources are so common in today’s life, it is easy to say that Qatar’s economy relies heavily on the income they bring. The two combined amount for around 60% for their export earnings, GDP, and their total government revenue.
2 comments
Comments are closed.
This is very informative, as I did not know much about Qatar prior. Their reliance on oil and gas is very productive for them now but is concerning in the long run as both are not resources that are bound to run out. It will be interesting to see how they attempt to maneuver their economy in the future to adjust for the possibility of those resources running out. Thank you for the info!
When I look at Qatar I see a country that has potential like the UAE, Their growth comes a lot from their ability to produce natural gas. I fully agree that they could be a new superpower in the Middle East but for them to do that they need to get past their differences with Saudi Arabia. They had a huge fallout regarding the Yemen war, relationship with Iran, etc. It got so bad that Saudi Arabia did a land blockade of the country and also planned to dig a trench along the entire countries border to make Qatar an island basically. I find Qatar’s close connection with the US as interesting because of the previously mentioned association with US-arch rival Iran. The US has a CIA base, a naval base, and just recently made a deal to sell fighter jets to them in return for them to recognize Israel diplomatically. In this push the US is trying to make a stronger alliance with Qatar in the hopes they will separate themselves with Iran.