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Qatar economy ranking: GDP & GDP per capita, debt

Updated on by Georank team

Qatar ranked 56/197 by economy size with a GDP of $219B and 11/197 by GDP per capita at $76,689. Qatar has $90.2B in government debt, with a debt-to-GDP ratio of 41.2%.

In 2024, Qatar made up 0.2% of the world's economy, compared to 0.01% in 1970.

Qatar GDP & GDP growth by year

GDP, current $
Real growth
1x
Year GDP GDP growth
2024 $219,162,637,363 2.36%
2023 $217,308,516,484 1.54%
2022 $235,709,340,659 4.18%
2021 $179,732,142,857 1.63%
2020 $144,411,538,462 -3.56%
2019 $176,371,428,571 0.69%
2018 $183,335,164,835 1.23%
2017 $161,099,175,824 -1.5%
2016 $151,732,142,857 3.06%
2015 $161,739,835,165 4.75%
2014 $206,224,725,275 5.33%
2013 $198,727,747,253 5.56%
2012 $186,833,516,484 4.73%
2011 $167,775,274,725 13.4%
2010 $123,627,197,802 19.6%
2009 $97,798,351,648 12%
2008 $115,270,054,945 17.7%
2007 $79,712,087,912 18%
2006 $60,882,142,857 26.2%
2005 $44,530,494,505 7.49%
2004 $31,734,065,934 19.2%
2003 $23,533,791,209 3.72%
2002 $19,363,736,264 7.18%
2001 $17,538,461,538 3.9%
2000 $17,759,890,110 8.03%
1999 $12,393,131,868 4.28%
1998 $10,255,495,027 11.2%
1997 $11,297,802,115 30%
1996 $9,059,340,385 4.37%
1995 $8,137,911,978 2.4%
1994 $7,374,450,769 1.42%
1993 $7,156,593,654 -1.33%
1992 $7,646,153,984 11.3%
1991 $6,883,516,484 -1.66%
1990 $7,360,439,423 3.41%
1989 $6,487,912,088 6.22%
1988 $6,038,187,033 5.9%
1987 $5,446,428,681 0.04%
1986 $5,053,021,951 5.34%
1985 $6,153,296,456 -2.12%
1984 $6,704,395,824 4.66%
1983 $6,467,582,308 -1.83%
1982 $7,596,703,214 -6.87%
1981 $8,661,263,764 0.9%
1980 $7,829,165,262 -1.02%
1979 $5,632,962,997 5.23%
1978 $4,052,000,413 8.86%
1977 $3,617,564,638 -7.31%
1976 $3,284,273,987 8.35%
1975 $2,512,773,166 5.88%
1974 $2,401,403,227 5.94%
1973 $793,885,560 10.8%
1972 $510,262,500 11.1%
1971 $387,703,106 10%
1970 $301,791,302 -

Data sources: World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06).

GeoRank.org/economy/qatar | CC BY

Qatar GDP per capita by year

GDP per capita
GDP per capita, PPP
1x
Year Current $
GDP per capita GDP per capita, PPP
2024 $76,689 $126,046
2023 $81,817 $129,368
2022 $88,701 $122,921
2021 $71,752 $116,833
2020 $51,684 $82,149
2019 $66,841 $107,503
2018 $71,040 $110,033
2017 $63,280 $99,358
2016 $61,254 $89,935
2015 $68,985 $102,546
2014 $95,841 $148,389
2013 $103,697 $169,203
2012 $108,470 $180,939
2011 $103,262 $174,620
2010 $76,463 $151,646
2009 $60,786 $125,898
2008 $80,781 $126,015
2007 $65,954 $124,056
2006 $62,582 $127,181
2005 $53,950 $115,250
2004 $41,036 $110,958
2003 $31,602 $94,120
2002 $27,227 $93,177
2001 $25,871 $89,805
2000 $27,535 $88,849
1999 $20,234 $84,690
1998 $17,665 $84,486
1997 $20,523 $79,219
1996 $17,125 $62,331
1995 $15,823 $60,321
1994 $14,765 $59,415
1993 $14,770 $59,125
1992 $16,280 $60,387
1991 $15,133 $54,759
1990 $16,722 $55,659
1989 $15,243 -
1988 $14,682 -
1987 $13,719 -
1986 $13,213 -
1985 $16,815 -
1984 $19,272 -
1983 $19,616 -
1982 $24,385 -
1981 $29,505 -
1980 $28,375 -
1979 $21,777 -
1978 $16,757 -
1977 $16,058 -
1976 $15,710 -
1975 $13,014 -
1974 $13,540 -
1973 $4,905 -
1972 $3,483 -
1971 $2,952 -
1970 $2,594 -

Data sources: World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06).

GeoRank.org/economy/qatar | CC BY

Qatar has a GDP per capita of $76,689, ranking 11/197, a GDP per capita based on purchasing power parity (PPP) of $126,046, ranking 5/197, and a median annual after tax income of $35,660, ranking 25/197.

Qatar GDP rankings by year

GDP
GDP per capita
GDP per capita, PPP
1x
Year Rank
GDP GDP per capita GDP per capita, PPP
2024 56 9 4
2023 55 10 4
2022 52 9 5
2021 57 9 4
2020 57 15 4
2019 55 9 2
2018 54 9 2
2017 55 9 2
2016 54 9 2
2015 55 7 3
2014 52 5 1
2013 53 4 1
2012 53 4 1
2011 56 4 1
2010 57 7 1
2009 60 8 2
2008 57 6 2
2007 59 8 1
2006 61 7 1
2005 63 8 1
2004 67 12 1
2003 69 18 1
2002 72 16 1
2001 74 16 2
2000 73 14 2
1999 82 26 2
1998 88 29 2
1997 83 26 2
1996 88 29 3
1995 89 29 3
1994 86 29 3
1993 87 26 3
1992 86 24 3
1991 91 24 3
1990 88 24 3
1989 78 24 -
1988 83 22 -
1987 84 21 -
1986 79 18 -
1985 73 7 -
1984 71 4 -
1983 72 5 -
1982 70 4 -
1981 64 4 -
1980 67 4 -
1979 69 4 -
1978 72 5 -
1977 72 4 -
1976 71 4 -
1975 75 4 -
1974 73 4 -
1973 91 17 -
1972 96 19 -
1971 99 19 -
1970 105 20 -

Data sources: World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06).

GeoRank.org/economy/qatar | CC BY

Compared with 2000, in 2024 Qatar is ranked 56th out of 182 by GDP (up from 73rd), 9th by GDP per capita (up from 14th), and 4th by GDP per capita PPP (down from 2nd).

Economic indicators

Qatar Rank
Gross domestic product
$219B
2024
56/197
GDP growth
2.36%
2023-2024
126/194
GDP per capita
$76,689
2024
11/197
GDP per capita, PPP
$126,046
2024
5/197
Government debt
$90.2B
2024
60/185
Debt-to-GDP ratio
41.2%
2024
130/185
Government debt per person
$31,579
2024
23/185
Average annual personal income after taxes
$35,660
2026
25/197
Listed domestic companies
52
2024
69/103
Market capitalization of domestic companies
$170M
2024
100/100
Number of millionaires
26,163
2025
34/35
Millionaire frequency
1 in 88
2025
23/35
Number of billionaires
2
2025
59/78
Billionaire frequency
1 in 1,156,896
2025
34/78
Income share by richest 10%
25.8%
2017
105/169
Income share by poorest 10%
2.6%
2017
102/169
Government expenditure, % of GDP
26%
2024
118/195
Consumer prices inflation
1.27%
2023-2024
160/195
Central bank interest rate
4.1%
2025
72/106
Unemployment rate
0.13%
2022
195/196
Population
2999260
138/197

Government spending, deficit, and debt by year

Spending
Debt
Deficit/surplus
1x
Year % of GDP
Government spending Government debt Government deficit/surplus
2024 26% 41.2% 0.69%
2023 27.3% 43.7% 5.56%
2022 24.3% 42.6% 10.4%
2021 29.4% 58.4% 0.24%
2020 34.7% 72.6% -2.13%
2019 32.5% 62.1% 1%
2018 28.9% 52.2% 2.26%
2017 34.7% 51.6% -6.82%
2016 40.1% 46.7% -9.2%
2015 38.6% 35.5% 18.4%
2014 32.3% 24.9% 13.4%
2013 28.3% 30.9% 19.3%
2012 31% 32.1% 8.55%
2011 28.5% 33.5% 5.24%
2010 32% 30.4% 4.6%
2009 36.4% 36% 14.1%
2008 23.5% 11.4% 9.49%
2007 29.5% 9.37% 10.3%
2006 29.5% 13.9% 8.39%
2005 29% 19.1% 9.8%
2004 29.9% 30.1% 17.7%
2003 28.5% 38.8% 6.71%
2002 31.6% 47.7% 7.89%
2001 32.1% 59.2% 4.48%
2000 29.8% 51.6% 4.62%
1999 42.4% 81.8% -4.35%
1998 55.1% 76.6% -7%
1997 47.6% 54.4% -9.4%
1996 55.2% 57.8% -8.73%
1995 52.2% 50.2% -5.78%
1994 59.8% 54.8% -11.8%
1993 62.8% 46.3% -9.53%
1992 54.2% 19.9% -2.74%
1991 57.5% 21.8% -2.57%
1990 50% 12.6% 3.23%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/qatar | CC BY

This chart shows Qatar's government spending, budget balance, and debt over time, each expressed as a share of GDP.

Over the past 35 years, Qatar recorded a fiscal deficit in 12 of them, with an average annual surplus equal to 3.04% of GDP. In 2024, government spending reached $56.9B (26% of GDP), with a surplus of 0.69%.

The national debt reached $90.2B, ranking 60th out of 185 countries by total size, with a debt-to-GDP ratio of 41.2%, ranking 130th.

Inflation rate by year

1x
Year Inflation
2024 1.27%
2023 3.03%
2022 5%
2021 2.3%
2020 -2.54%
2019 -0.67%
2018 0.26%
2017 0.39%
2016 2.68%
2015 1.81%
2014 3.35%
2013 3.22%
2012 2.32%
2011 1.14%
2010 -2.43%
2009 -4.86%
2008 15.1%
2007 13.8%
2006 11.8%
2005 8.81%
2004 6.8%
2003 2.26%
2002 0.24%
2001 1.47%
2000 1.65%
1999 2.18%
1998 2.95%
1997 4.83%
1996 4.9%
1995 2.96%
1994 1.32%
1993 -0.87%
1992 3.06%
1991 4.42%
1990 3%
1989 3.3%
1988 4.6%
1987 2.69%
1986 0.76%
1985 1.91%
1984 1.1%
1983 2.74%
1982 5.7%
1981 8.52%
1980 6.8%

Data sources: World Bank | Economy & Growth (1980–2024, retrieved 2026-04-06).

GeoRank.org/economy/qatar | CC BY

Over the past 20 years, Qatar has had an average annual inflation rate of 3.29%. In 2024, inflation was 1.27%. The bar chart above shows consumer price inflation by year.

Balance of trade

Qatar Rank
Current account balance
$37.9B
2024
16/190
Current account balance, % of GDP
+17.3%
2024
6/190
Goods imports
$32.6B
2024
66/189
Goods exports
$95B
2024
39/189
Service imports
$37.1B
2024
37/189
Service exports
$30.2B
2024
42/189
Imports of goods and services, % of GDP
31.6%
2022
123/181
Exports of goods and services, % of GDP
68.6%
2022
32/193

Qatar top 10 trading partners

Qatar's biggest trading partner accounting for 19.3% of all exports and imports is China, with a trade balance between the two of +$14.7B: Qatar exports $19.3B worth of goods and services to China and imports $4.55B.

Below is the list of the top 10 trade partners of Qatar.

Rank Country Trade value Share of total trade Export to Import from Top export to Top import from
1 China $23.8B 19.3% $19.3B $4.55B Raw materials & minerals Machinery & equipment
2 India $13.5B 10.9% $11.8B $1.77B Raw materials & minerals Machinery & equipment
3 South Korea $13.1B 10.6% $12.3B $769M Raw materials & minerals Machinery & equipment
4 Japan $8.8B 7.11% $7.81B $989M Raw materials & minerals Machinery & equipment
5 Singapore $7.56B 6.11% $7.08B $482M Raw materials & minerals Precious metals & jewellery
6 United States $6.49B 5.24% $1.48B $5.01B Raw materials & minerals Machinery & equipment
7 Italy $5.46B 4.41% $3.43B $2.02B Raw materials & minerals Machinery & equipment
8 UAE $5B 4.04% $4.24B $762M Raw materials & minerals Metals
9 Pakistan $3.51B 2.84% $3.35B $168M Raw materials & minerals Raw agricultural goods
10 Thailand $2.78B 2.25% $2.48B $300M Raw materials & minerals Machinery & equipment

Top 10 exports

Qatar Rank
Raw materials & minerals $87.9B 12/193
Transport & tourism services $26.2B 28/188
Chemicals & pharma $3.93B 49/193
Metals $2.69B 56/192
Machinery & equipment $2.43B 68/193
Business & finance services $1.84B 64/188
IT & IP services $1.14B 60/183
Government & miscellaneous services $929M 18/180
Precious metals & jewellery $302M 82/190
Textiles & consumer goods $160M 112/193

Top 10 imports

Qatar Rank
Transport & tourism services $30B 27/188
Machinery & equipment $13B 62/193
Business & finance services $4.24B 50/188
Government & miscellaneous services $3.55B 5/180
Metals $2.88B 65/193
Chemicals & pharma $2.86B 76/193
Textiles & consumer goods $2.6B 70/193
Raw materials & minerals $2.35B 111/193
IT & IP services $1.86B 48/182
Precious metals & jewellery $1.53B 36/193

Economic freedom indices

Qatar Rank
Economic freedom 70.2 37/197
Property rights 66.2 55/182
Government integrity 53.5 56/182
Judicial effectiveness 41.5 101/182
Tax burden 99.9 2/182
Government spending 79.9 67/180
Fiscal health 96.6 24/181
Business freedom 68 80/182
Labor freedom 58.5 67/182
Monetary freedom 76 70/180
Trade freedom 81.8 19/181
Investment freedom 60 82/181
Financial freedom 60 61/181

Economic freedom by year

1x
Year Index
Economic freedom Judicial effectiveness Tax burden Government spending Fiscal health
2026 70.2 41.5 99.9 79.9 96.6
2025 70.2 42.3 99.9 78.1 96.2
2024 68.8 41.5 99.7 74 96.4
2023 68.6 58.3 99.7 68.9 93.2
2022 67.7 38.8 97.8 69.3 89.7
2021 72 58 97.9 69.2 94.5
2020 72.3 58.7 99.8 64.6 93.7
2019 72.6 60 99.7 56.8 94
2018 72.6 59.8 99.6 60.2 95.4
2017 73.1 63 99.6 71.2 97.4
2016 70.7 - 99.7 70.4 -
2015 70.8 - 99.7 71.9 -
2014 71.2 - 99.9 72.1 -
2013 71.3 - 99.8 81.2 -
2012 71.3 - 99.7 73.6 -
2011 70.5 - 99.8 78.1 -
2010 69 - 99.9 73.7 -
2009 65.8 - 99.9 69.1 -
2008 62.2 - 99.8 72.1 -
2007 62.9 - 99.8 71.4 -
2006 62.4 - 99.9 71.7 -
2005 63.5 - 99.9 75.5 -
2004 66.5 - 87.5 69.7 -
2003 65.9 - 87.5 70.2 -
2002 61.9 - 87.5 56.7 -
2001 60 - 87.5 47.1 -
2000 62 - 87.5 47.1 -
1999 62 - 87.5 47.8 -

Data sources: The Heritage Foundation | Economic Freedom Index (1999–2026, retrieved 2026-03-09).

GeoRank.org/economy/qatar | CC BY

Qatar is ranked 31/174 for economic freedom with a score of 70.2, compared to 60/162 and a score of 62.4 in 2006.

Other economic metrics

Qatar Rank
Services, % of GDP
46.1%
2024
153/191
Industry, % of GDP
58.2%
2024
4/194
Agriculture, forestry, and fishing, % of GDP
0.29%
2024
186/193
GNI, Atlas method
$221B
2024
55/194
GNI per capita, PPP
$121,900
2024
2/191
Total reserves including gold
$54B
2024
40/177
Net foreign direct investment
$1.1B
2024
26/189
Net inflows of foreign direct investment
$460M
2024
120/193
Net outflows of foreign direct investment
$1.56B
2024
45/193
Gross capital formation, % of GDP
30.6%
2022
28/178

Compare Qatar vs other countries

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/qatar | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1999–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2022–2023, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.