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Economy of Qatar vs Russia compared: GDP & Debt

Updated on by Georank

Qatar has a GDP of $216B compared to $2.56T for Russia, ranking 56/197 and 8/197 by economy size, respectively.

Qatar has $89.2B in government debt (41.4% of GDP), compared to $440B (17.2% of GDP) in Russia.

Qatar vs Russia GDP by year

Qatar
Russia
1x
Year GDP, current $
Qatar Russia
2025 $215,559,615,385 $2,561,310,169,359
2024 $216,294,505,495 $2,186,462,268,813
2023 $213,002,809,341 $2,046,284,838,151
2022 $235,709,325,714 $2,292,495,097,681
2021 $179,732,009,560 $1,829,186,719,575
2020 $144,411,363,352 $1,493,075,894,362
2019 $176,371,267,692 $1,693,115,002,708
2018 $183,334,953,819 $1,657,328,773,461
2017 $161,099,122,225 $1,574,199,360,089
2016 $151,732,181,868 $1,276,786,350,881
2015 $161,739,955,577 $1,363,482,182,198
2014 $206,224,598,571 $2,059,241,589,895
2013 $198,727,642,967 $2,292,470,078,346
2012 $186,833,502,363 $2,208,293,553,878
2011 $167,775,274,725 $2,045,922,753,398
2010 $125,122,252,747 $1,524,916,715,224
2009 $97,798,351,648 $1,222,645,900,056
2008 $115,269,780,220 $1,660,848,058,303
2007 $79,711,813,187 $1,299,703,478,482
2006 $60,882,142,857 $989,932,071,353
2005 $44,530,494,505 $764,015,973,481
2004 $31,734,065,934 $591,016,690,732
2003 $23,533,791,209 $430,347,420,185
2002 $19,363,736,264 $345,470,494,418
2001 $17,538,461,538 $306,602,070,621
2000 $17,759,890,110 $259,710,142,197
1999 $12,393,131,868 $195,907,128,351
1998 $10,255,494,505 $270,955,486,862
1997 $11,297,802,198 $404,928,954,192
1996 $9,059,340,659 $391,724,890,744
1995 $8,137,912,088 $395,537,185,735
1994 $7,374,450,549 $395,077,301,248
1993 $7,156,593,407 $435,083,713,851
1992 $7,646,153,846 $460,290,556,901
1991 $6,883,516,484 $517,962,962,963
1990 $7,360,439,560 $517,014,446,228
1989 $6,487,912,088 $506,631,299,735
1988 $6,038,186,813 $554,828,660,436
1987 $5,446,428,571 -
1986 $5,053,021,978 -
1985 $6,153,296,703 -
1984 $6,870,329,670 -
1983 $6,484,890,110 -
1982 $7,611,263,736 -
1981 $8,672,527,473 -
1980 $7,837,915,956 -
1979 $5,632,962,997 -
1978 $4,052,000,413 -
1977 $3,617,564,638 -
1976 $3,284,273,987 -
1975 $2,512,773,166 -
1974 $2,401,403,227 -
1973 $793,885,560 -
1972 $510,262,500 -
1971 $387,703,106 -
1970 $301,791,302 -

Data sources: World Bank | Economy & Growth (1970–2025, retrieved 2026-07-08).

GeoRank.org/economy/qatar/russia | CC BY

GDP per capita in Qatar vs Russia by year

Qatar
GDP per capita

GDP per capita, PPP
Russia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Qatar Russia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $72,525 - $17,847 -
2024 $75,685 $126,046 $15,219 $47,362
2023 $80,196 $129,368 $14,227 $44,269
2022 $88,701 $122,921 $15,894 $40,939
2021 $71,752 $116,833 $12,637 $38,638
2020 $51,684 $82,149 $10,280 $31,491
2019 $66,841 $107,503 $11,640 $30,964
2018 $71,040 $110,033 $11,399 $28,629
2017 $63,280 $99,358 $10,835 $25,778
2016 $61,254 $89,935 $8,804 $24,012
2015 $68,985 $102,546 $9,427 $23,994
2014 $95,841 $148,389 $14,277 $25,688
2013 $103,697 $169,203 $15,941 $26,020
2012 $108,470 $180,939 $15,402 $24,274
2011 $103,262 $174,620 $14,305 $22,790
2010 $77,387 $151,646 $10,675 $20,490
2009 $60,786 $125,898 $8,563 $19,390
2008 $80,781 $126,015 $11,635 $20,164
2007 $65,954 $124,056 $9,101 $16,648
2006 $62,582 $127,181 $6,920 $14,912
2005 $53,950 $115,250 $5,323 $11,822
2004 $41,036 $110,958 $4,102 $10,227
2003 $31,602 $94,120 $2,975 $9,255
2002 $27,227 $93,177 $2,378 $8,037
2001 $25,871 $89,805 $2,100 $7,361
2000 $27,535 $88,849 $1,772 $6,825
1999 $20,234 $84,690 $1,331 $5,914
1998 $17,665 $84,486 $1,835 $5,465
1997 $20,523 $79,219 $2,738 $5,700
1996 $17,125 $62,331 $2,644 $5,518
1995 $15,823 $60,321 $2,666 $5,613
1994 $14,765 $59,415 $2,662 $5,734
1993 $14,770 $59,125 $2,931 $6,420
1992 $16,280 $60,387 $3,099 $6,862
1991 $15,133 $54,759 $3,490 $7,858
1990 $16,722 $55,659 $3,494 $8,028
1989 $15,243 - $3,430 -
1988 $14,682 - $3,778 -
1987 $13,719 - - -
1986 $13,213 - - -
1985 $16,815 - - -
1984 $19,749 - - -
1983 $19,669 - - -
1982 $24,431 - - -
1981 $29,543 - - -
1980 $28,407 - - -
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 (1970–2025, retrieved 2026-07-08).

GeoRank.org/economy/qatar/russia | CC BY

Qatar's GDP per capita is $72,525, ranking 13/197, compared to $17,847 in Russia, ranking 68/197. Adjusted for purchasing power (GDP per capita PPP), Qatar ranks 5th at $126,046, while Russia ranks 50th at $47,362.

Economic indicators

Qatar Russia
Gross domestic product
$216B
2025
$2.56T
2025
GDP rank
56/197
2025
8/197
2025
GDP growth
2.9%
2024-2025
1%
2024-2025
GDP per capita
$72,525
2025
$17,847
2025
GDP per capita rank
13/197
2025
68/197
2025
GDP per capita, PPP
$126,046
2024
$47,362
2024
GDP per capita PPP rank
5/197
2024
50/197
2024
Government debt
$89.2B
2025
$440B
2025
Debt-to-GDP ratio
41.4%
2025
17.2%
2025
Government debt per person
$30,009
2025
$3,068
2025
Government debt per person rank
24/185
2025
105/185
2025
Average annual personal income after taxes
$37,042
2026
$11,183
2026
Market capitalization of domestic companies
$177B
2025
$650B
2023
Number of millionaires
30,000
2026
447,000
2026
Number of billionaires
2
2026
147
2026
Income share by richest 10%
25.8%
2017
25.1%
2023
Income share by poorest 10%
2.6%
2017
3.1%
2023
Government expenditure, % of GDP
27.1%
2025
39.1%
2025
Consumer prices inflation
0.6%
2024-2025
8.7%
2024-2025
Central bank interest rate
4.1%
2025
14.5%
2026
Unemployment rate
0.1%
2024
2.13%
2025
Population
3058826
142643173

Spending and national debt comparison by year

Qatar
Spending

Debt
Russia
Spending

Debt
1x
Year % of GDP
Qatar Russia
Government spending Government debt Government spending Government debt
2025 27.1% 41.4% 39.1% 17.2%
2024 26% 41.3% 36.7% 14.8%
2023 26.7% 42.8% 36.1% 15.2%
2022 24.3% 42.6% 35.1% 15.1%
2021 29.4% 58.4% 34.9% 16.5%
2020 34.7% 72.6% 39.2% 19.2%
2019 32.5% 62.1% 33.8% 13.7%
2018 28.9% 52.2% 32.6% 13.6%
2017 34.7% 51.6% 34.8% 14.3%
2016 40.1% 46.7% 36.6% 14.8%
2015 38.6% 35.5% 35.3% 15.3%
2014 32.3% 24.9% 34.9% 15.1%
2013 28.3% 30.9% 34.7% 12.3%
2012 31% 32.1% 34% 11.2%
2011 28.5% 33.5% 33.3% 10.3%
2010 32% 30.4% 35.5% 10.1%
2009 36.4% 36% 38.6% 9.92%
2008 23.5% 11.4% 32% 7.45%
2007 29.5% 9.37% 31.9% 8.03%
2006 29.5% 13.9% 29% 9.8%
2005 29% 19.1% 29.5% 14.9%
2004 29.9% 30.1% 29.6% 20.8%
2003 28.5% 38.8% 32.6% 28.3%
2002 31.6% 47.7% 33.8% 37.6%
2001 32.1% 59.2% 31.5% 44.4%
2000 29.8% 51.6% 30.7% 55.9%
1999 42.4% 81.8% 34.3% 92.4%
1998 55.1% 76.6% 39.7% 135.2%
1997 47.6% 54.4% - 51.5%
1996 55.2% 57.8% - 51.9%
1995 52.2% 50.2% - 53.7%
1994 59.8% 54.8% - 63.5%
1993 62.8% 46.3% - 92.4%
1992 54.2% 19.9% - 116%
1991 57.5% 21.8% - -
1990 50% 12.6% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1992–1996, retrieved 2026-07-08).

GeoRank.org/economy/qatar/russia | CC BY

In 2025, Qatar's government spending was $58.4B, accounting for 27.1% of its GDP, while Russia spent $1T, or 39.1% of GDP.

Debt-to-GDP ratio is 41.4% in Qatar and 17.2% in Russia, ranking 127/185 and 175/185, respectively.

Government deficit by year

Deficit/surplus
Qatar

Russia
1x
Year Deficit/surplus, % of GDP
Qatar Russia
2025 -1% -3.9%
2024 0.71% -1.59%
2023 5.51% -2.24%
2022 10.4% -1.34%
2021 0.24% 0.78%
2020 -2.13% -3.99%
2019 1% 1.93%
2018 2.26% 2.92%
2017 -6.82% -1.47%
2016 -9.2% -3.67%
2015 18.4% -3.39%
2014 13.4% -1.07%
2013 19.3% -1.16%
2012 8.55% 0.38%
2011 5.24% 1.43%
2010 4.6% -3.19%
2009 14.1% -5.89%
2008 9.49% 4.55%
2007 10.3% 5.59%
2006 8.39% 7.8%
2005 9.8% 7.6%
2004 17.7% 4.57%
2003 6.71% 1.35%
2002 7.89% 0.67%
2001 4.48% 2.99%
2000 4.62% 3.11%
1999 -4.35% -3.59%
1998 -7% -7.42%
1997 -9.4% -
1996 -8.73% -
1995 -5.78% -
1994 -11.8% -
1993 -9.53% -
1992 -2.74% -
1991 -2.57% -
1990 3.23% -
1989 - -
1988 - -
1987 - -
1986 - -
1985 - -
1984 - -
1983 - -
1982 - -
1981 - -
1980 - -
1979 - -
1978 - -
1977 - -
1976 - -
1975 - -
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -
1969 - -
1968 - -
1967 - -
1966 - -
1965 - -
1964 - -
1963 - -
1962 - -
1961 - -
1960 - -
1959 - -
1958 - -
1957 - -
1956 - -
1955 - -
1954 - -
1953 - -
1952 - -
1951 - -
1950 - -
1949 - -
1948 - -
1947 - -
1946 - -
1945 - -
1944 - -
1943 - -
1942 - -
1941 - -
1940 - 0.15%
1939 - 0.12%
1938 - 0.16%
1937 - 0.12%
1936 - 0.1%
1935 - 0.07%
1934 - 0.25%
1933 - 0.58%
1932 - 0.06%
1931 - -1.12%
1930 - -1.62%
1929 - -0.4%
1928 - -0.4%
1927 - -
1926 - -
1925 - -
1924 - -
1923 - -
1922 - -
1921 - -
1920 - -
1919 - -
1918 - -
1917 - -
1916 - -
1915 - -
1914 - -
1913 - -
1912 - 0.69%
1911 - 1.26%
1910 - 1.52%
1909 - -0.15%
1908 - -0.83%
1907 - -0.86%
1906 - -3.19%
1905 - -7.72%
1904 - -5.13%
1903 - 1.04%
1902 - -1.57%
1901 - 0.14%
1900 - -0.36%
1899 - 0.66%
1898 - 0.03%
1897 - 0.34%
1896 - 1.3%
1895 - 0.7%
1894 - 1.43%
1893 - 0.63%
1892 - -1.16%
1891 - -0.97%
1890 - 0.01%
1889 - 1.34%
1888 - 0.88%
1887 - 0.14%
1886 - -0.84%
1885 - -0.75%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1885–1940, retrieved 2026-07-08).

GeoRank.org/economy/qatar/russia | CC BY

In 2025, Qatar's government deficit, the difference between spending and revenue, was $2.16B, equivalent to 1% of GDP. This compares to Russia's deficit of $100B, or 3.9% of GDP.

Over the past 28 years, Qatar recorded a fiscal deficit in 6 of those years, while Russia ran a deficit in 14 years. On average, Qatar posted an annual surplus equal to 5.45% of GDP, compared to surplus of 0.06% of GDP for Russia.

Inflation comparison by year

Inflation
Qatar

Russia
1x
Year Consumer prices inflation
Qatar Russia
2025 0.6% 8.7%
2024 1.2% 8.4%
2023 3.1% 5.9%
2022 5% 13.7%
2021 2.3% 6.7%
2020 -2.5% 3.4%
2019 -0.9% 4.5%
2018 0.1% 2.9%
2017 0.6% 3.7%
2016 2.7% 7%
2015 0.9% 15.5%
2014 4.2% 7.8%
2013 3.1% 6.8%
2012 1.8% 5.1%
2011 2% 8.4%
2010 -2.4% 6.8%
2009 -4.9% 11.6%
2008 15.1% 14.1%
2007 13.7% 9%
2006 11.7% 9.7%
2005 9% 12.7%
2004 6.8% 10.9%
2003 2.3% 13.7%
2002 0.2% 15.8%
2001 1.7% 21.5%
2000 1.6% 20.8%
1999 2.2% 85.7%
1998 2.9% 27.7%
1997 2.7% 14.8%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/qatar/russia | CC BY

Over the past 29 years, Qatar has recorded an average annual inflation rate of 2.99%, compared with 13.2% in Russia. In 2025, inflation was 0.6% in Qatar and 8.7% in Russia.

Top exports between countries

Qatar
Export category Export value
Machinery & equipment $8.16M
Chemicals & pharma $2.62M
Precious metals & jewellery $1.15M
Textiles & consumer goods $373K
Processed food, beverages & tobacco $292K
Raw materials & minerals $178K
Metals $133K
Animal & marine products $53K
Wood & paper products $51K
Russia
Export category Export value
Metals $90.2M
Business & finance services $20.1M
Transport & tourism services $19.3M
Raw agricultural goods $9.33M
Processed food, beverages & tobacco $8.8M
Machinery & equipment $6.26M
Textiles & consumer goods $3.18M
Raw materials & minerals $3.08M
IT & IP services $1.73M
Wood & paper products $1.64M

Balance of trade

Qatar Russia
Current account balance
$31.9B
2025
$43.1B
2025
Current account balance ranking
17/190
2025
14/190
2025
Current account balance, % of GDP
+14.8%
2025
+1.68%
2025
Goods imports
$34.3B
2025
$305B
2025
Goods exports
$90B
2025
$422B
2025
Service imports
$31.3B
2025
$94.8B
2025
Service exports
$24.4B
2025
$46.3B
2025
Imports of goods and services, % of GDP
31.6%
2022
15.5%
2025
Exports of goods and services, % of GDP
68.6%
2022
18.2%
2025

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Qatar Russia
Economic freedom 70.2 50.3
Economic freedom ranking 37/197 161/197
Property rights 66.2 18.6
Government integrity 53.5 22.8
Judicial effectiveness 41.5 22.8
Tax burden 99.9 81.9
Government spending 79.9 61.3
Fiscal health 96.6 94.4
Business freedom 68 51.4
Labor freedom 58.5 59.1
Monetary freedom 76 61.8
Trade freedom 81.8 69.4
Investment freedom 60 30
Financial freedom 60 30

Economic freedom comparison by year

Qatar
Russia
1x
Year Economic freedom index
Qatar Russia
2026 70.2 50.3
2025 70.2 51.6
2024 68.8 52
2023 68.6 53.8
2022 67.7 56.1
2021 72 61.5
2020 72.3 61
2019 72.6 58.9
2018 72.6 58.2
2017 73.1 57.1
2016 70.7 50.6
2015 70.8 52.1
2014 71.2 51.9
2013 71.3 51.1
2012 71.3 50.5
2011 70.5 50.5
2010 69 50.3
2009 65.8 50.8
2008 62.2 49.8
2007 62.9 52.2
2006 62.4 52.4
2005 63.5 51.3
2004 66.5 52.8
2003 65.9 50.8
2002 61.9 48.7
2001 60 49.8
2000 62 51.8
1999 62 54.5
1998 - 52.8
1997 - 48.6
1996 - 51.6
1995 - 51.1

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

GeoRank.org/economy/qatar/russia | CC BY

The Economic Freedom Index for Qatar is 70.2, ranking 37/197, compared to 50.3 for Russia, ranking 161/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Qatar Russia
Services, % of GDP
47%
2025
58.9%
2025
Industry, % of GDP
57%
2025
29.7%
2025
Agriculture, forestry, and fishing, % of GDP
0.31%
2025
3.06%
2025
GNI, Atlas method
$221B
2025
$2.33T
2025
GNI per capita, PPP
$126,290
2025
$49,220
2025
Total reserves including gold
$55.8B
2025
$608B
2024
Total reserves ranking
45/177
2025
6/177
2024
Net foreign direct investment
$311M
2025
-$12.4B
2025
Net inflows of foreign direct investment
$460M
2024
-$9.35B
2024
Net outflows of foreign direct investment
$1.56B
2024
-$170M
2024
Servicing debt to the IMF, % of GNI n/a
2.63%
2024
Poverty at national poverty lines n/a
7.2%
2024
Gross capital formation, % of GDP
30.6%
2022
25.9%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/qatar/russia | CC BY

Compare countries by 7 more topics

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Data sources:

  1. World Bank | Economy & Growth (1970–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1885–1996, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2020–2024, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)

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.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

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.