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Economy of Qatar vs Saudi Arabia compared: GDP & Debt

Updated on by Georank

Qatar has a GDP of $216B compared to $1.28T for Saudi Arabia, ranking 56/197 and 19/197 by economy size, respectively.

Qatar has $89.2B in government debt (41.4% of GDP), compared to $405B (31.7% of GDP) in Saudi Arabia.

Qatar vs Saudi Arabia GDP by year

Qatar
Saudi Arabia
1x
Year GDP, current $
Qatar Saudi Arabia
2025 $215,559,615,385 $1,276,942,933,333
2024 $216,294,505,495 $1,254,140,800,000
2023 $213,002,809,341 $1,218,584,800,000
2022 $235,709,325,714 $1,239,075,200,000
2021 $179,732,009,560 $982,661,066,667
2020 $144,411,363,352 $767,951,200,000
2019 $176,371,267,692 $888,890,133,333
2018 $183,334,953,819 $886,564,800,000
2017 $161,099,122,225 $741,266,133,333
2016 $151,732,181,868 $689,279,466,667
2015 $161,739,955,577 $693,414,400,000
2014 $206,224,598,571 $787,153,066,667
2013 $198,727,642,967 $769,755,733,333
2012 $186,833,502,363 $751,921,333,333
2011 $167,775,274,725 $680,660,800,000
2010 $125,122,252,747 $528,207,466,667
2009 $97,798,351,648 $429,097,866,667
2008 $115,269,780,220 $519,796,800,000
2007 $79,711,813,187 $415,964,509,673
2006 $60,882,142,857 $376,900,133,511
2005 $44,530,494,505 $328,459,608,764
2004 $31,734,065,934 $258,742,133,333
2003 $23,533,791,209 $215,807,733,333
2002 $19,363,736,264 $189,605,866,667
2001 $17,538,461,538 $184,137,600,000
2000 $17,759,890,110 $189,514,933,333
1999 $12,393,131,868 $161,717,066,667
1998 $10,255,494,505 $146,775,466,667
1997 $11,297,802,198 $165,963,684,913
1996 $9,059,340,659 $158,662,483,311
1995 $8,137,912,088 $143,343,124,166
1994 $7,374,450,549 $135,174,899,866
1993 $7,156,593,407 $132,967,957,276
1992 $7,646,153,846 $137,087,850,467
1991 $6,883,516,484 $132,223,230,975
1990 $7,360,439,560 $117,630,173,565
1989 $6,487,912,088 $95,344,459,279
1988 $6,038,186,813 $88,256,074,766
1987 $5,446,428,571 $85,695,861,148
1986 $5,053,021,978 $86,961,922,765
1985 $6,153,296,703 $103,897,846,494
1984 $6,870,329,670 $119,624,858,116
1983 $6,484,890,110 $129,171,635,311
1982 $7,611,263,736 $153,240,313,858
1981 $8,672,527,473 $184,291,360,139
1980 $7,837,915,956 $164,539,660,725
1979 $5,632,962,997 $111,858,444,786
1978 $4,052,000,413 $80,266,516,687
1977 $3,617,564,638 $74,188,986,586
1976 $3,284,273,987 $64,005,665,722
1975 $2,512,773,166 $46,773,208,643
1974 $2,401,403,227 $45,412,957,746
1973 $793,885,560 $14,947,435,499
1972 $510,262,500 $9,664,267,087
1971 $387,703,106 $7,184,806,909
1970 $301,791,302 $5,377,333,333
1969 - $4,485,777,644
1968 - $4,187,777,711
1967 - $3,257,022,223
1966 - $2,920,555,557
1965 - $2,647,955,558
1964 - $2,371,808,713
1963 - $2,207,393,172
1962 - $2,130,606,532
1961 - $1,920,811,284
1960 - $1,748,124,064

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/qatar/saudi-arabia | CC BY

GDP per capita in Qatar vs Saudi Arabia by year

Qatar
GDP per capita

GDP per capita, PPP
Saudi Arabia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Qatar Saudi Arabia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $72,525 - $34,537 -
2024 $75,685 $126,046 $35,528 $71,375
2023 $80,196 $129,368 $36,157 $71,565
2022 $88,701 $122,921 $38,510 $71,968
2021 $71,752 $116,833 $31,921 $62,690
2020 $51,684 $82,149 $24,339 $47,518
2019 $66,841 $107,503 $29,567 $59,560
2018 $71,040 $110,033 $29,360 $59,378
2017 $63,280 $99,358 $23,929 $53,120
2016 $61,254 $89,935 $22,268 $49,937
2015 $68,985 $102,546 $23,256 $53,931
2014 $95,841 $148,389 $27,805 $62,578
2013 $103,697 $169,203 $27,865 $62,203
2012 $108,470 $180,939 $28,733 $65,034
2011 $103,262 $174,620 $27,127 $64,125
2010 $77,387 $151,646 $22,028 $58,829
2009 $60,786 $125,898 $17,718 $54,787
2008 $80,781 $126,015 $22,320 $57,236
2007 $65,954 $124,056 $18,596 $55,030
2006 $62,582 $127,181 $17,564 $54,639
2005 $53,950 $115,250 $15,976 $53,548
2004 $41,036 $110,958 $13,154 $51,225
2003 $31,602 $94,120 $11,487 $48,078
2002 $27,227 $93,177 $10,586 $45,466
2001 $25,871 $89,805 $10,805 $47,381
2000 $27,535 $88,849 $11,715 $48,644
1999 $20,234 $84,690 $10,452 $47,495
1998 $17,665 $84,486 $9,836 $48,867
1997 $20,523 $79,219 $11,545 $48,796
1996 $17,125 $62,331 $11,472 $48,569
1995 $15,823 $60,321 $10,786 $48,052
1994 $14,765 $59,415 $10,602 $48,904
1993 $14,770 $59,125 $10,885 $49,503
1992 $16,280 $60,387 $11,730 $50,355
1991 $15,133 $54,759 $11,847 $49,295
1990 $16,722 $55,659 $11,055 $46,214
1989 $15,243 - $9,414 -
1988 $14,682 - $9,165 -
1987 $13,719 - $9,386 -
1986 $13,213 - $10,078 -
1985 $16,815 - $12,745 -
1984 $19,749 - $15,541 -
1983 $19,669 - $17,810 -
1982 $24,431 - $22,454 -
1981 $29,543 - $28,703 -
1980 $28,407 - $27,206 -
1979 $21,777 - $19,612 -
1978 $16,757 - $14,914 -
1977 $16,058 - $14,595 -
1976 $15,710 - $13,313 -
1975 $13,014 - $10,266 -
1974 $13,540 - $10,503 -
1973 $4,905 - $3,640 -
1972 $3,483 - $2,474 -
1971 $2,952 - $1,929 -
1970 $2,594 - $1,509 -
1969 - - $1,313 -
1968 - - $1,276 -
1967 - - $1,032 -
1966 - - $961 -
1965 - - $904 -
1964 - - $840 -
1963 - - $812 -
1962 - - $813 -
1961 - - $760 -
1960 - - $718 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/qatar/saudi-arabia | CC BY

Qatar's GDP per capita is $72,525, ranking 13/197, compared to $34,537 in Saudi Arabia, ranking 36/197. Adjusted for purchasing power (GDP per capita PPP), Qatar ranks 5th at $126,046, while Saudi Arabia ranks 24th at $71,375.

Economic indicators

Qatar Saudi Arabia
Gross domestic product
$216B
2025
$1.28T
2025
GDP rank
56/197
2025
19/197
2025
GDP growth
2.9%
2024-2025
4.5%
2024-2025
GDP per capita
$72,525
2025
$34,537
2025
GDP per capita rank
13/197
2025
36/197
2025
GDP per capita, PPP
$126,046
2024
$71,375
2024
GDP per capita PPP rank
5/197
2024
24/197
2024
Government debt
$89.2B
2025
$405B
2025
Debt-to-GDP ratio
41.4%
2025
31.7%
2025
Government debt per person
$30,009
2025
$10,956
2025
Government debt per person rank
24/185
2025
57/185
2025
Average annual personal income after taxes
$37,042
2026
$22,010
2026
Market capitalization of domestic companies
$177B
2025
$2.36T
2025
Number of millionaires
30,000
2026
348,000
2026
Number of billionaires
2
2026
15
2026
Income share by richest 10%
25.8%
2017
n/a
Income share by poorest 10%
2.6%
2017
n/a
Government expenditure, % of GDP
27.1%
2025
29%
2025
Consumer prices inflation
0.6%
2024-2025
2.08%
2024-2025
Central bank interest rate
4.1%
2025
4.25%
2025
Unemployment rate
0.1%
2024
3.24%
2025
Population
3058826
37955120

Spending and national debt comparison by year

Qatar
Spending

Debt
Saudi Arabia
Spending

Debt
1x
Year % of GDP
Qatar Saudi Arabia
Government spending Government debt Government spending Government debt
2025 27.1% 41.4% 29% 31.7%
2024 26% 41.3% 29.2% 25.9%
2023 26.7% 42.8% 28.3% 23%
2022 24.3% 42.6% 25.3% 21.3%
2021 29.4% 58.4% 28.2% 25.5%
2020 34.7% 72.6% 37.4% 29.7%
2019 32.5% 62.1% 31.8% 20.3%
2018 28.9% 52.2% 32.4% 16.8%
2017 34.7% 51.6% 30.9% 15.9%
2016 40.1% 46.7% 33.3% 12.2%
2015 38.6% 35.5% 38.5% 5.47%
2014 32.3% 24.9% 38.6% 1.5%
2013 28.3% 30.9% 34.5% 2.08%
2012 31% 32.1% 32.5% 2.97%
2011 28.5% 33.5% 32.4% 5.31%
2010 32% 30.4% 33% 8.43%
2009 36.4% 36% 37.1% 14%
2008 23.5% 11.4% 26.7% 12.1%
2007 29.5% 9.37% 29.5% 17.1%
2006 29.5% 13.9% 27.3% 25.8%
2005 29% 19.1% 28.2% 37.3%
2004 29.9% 30.1% 31.1% 62.9%
2003 28.5% 38.8% 33.1% 81.6%
2002 31.6% 47.7% 35.9% 96.4%
2001 32.1% 59.2% 36.9% 93.1%
2000 29.8% 51.6% 33.1% 86.7%
1999 42.4% 81.8% 30.3% 103%
1998 55.1% 76.6% 34.5% 101.5%
1997 47.6% 54.4% 35.6% 76.7%
1996 55.2% 57.8% 33.3% 75.2%
1995 52.2% 50.2% 32.4% 74.2%
1994 59.8% 54.8% 33.8% 67.9%
1993 62.8% 46.3% 37.7% 58.6%
1992 54.2% 19.9% 41.2% 47.8%
1991 57.5% 21.8% 34.9% 39.4%
1990 50% 12.6% 39.3% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

GeoRank.org/economy/qatar/saudi-arabia | CC BY

In 2025, Qatar's government spending was $58.4B, accounting for 27.1% of its GDP, while Saudi Arabia spent $370B, or 29% of GDP.

Debt-to-GDP ratio is 41.4% in Qatar and 31.7% in Saudi Arabia, ranking 127/185 and 151/185, respectively.

Government deficit by year

Deficit/surplus
Qatar

Saudi Arabia
1x
Year Deficit/surplus, % of GDP
Qatar Saudi Arabia
2025 -1% -5.77%
2024 0.71% -2.46%
2023 5.51% -1.77%
2022 10.4% 2.24%
2021 0.24% -1.99%
2020 -2.13% -10.2%
2019 1% -3.96%
2018 2.26% -5.21%
2017 -6.82% -8.57%
2016 -9.2% -13.2%
2015 18.4% -14.9%
2014 13.4% -3.4%
2013 19.3% 5.47%
2012 8.55% 11.7%
2011 5.24% 11.4%
2010 4.6% 4.39%
2009 14.1% -5.38%
2008 9.49% 29.8%
2007 10.3% 11.8%
2006 8.39% 20.8%
2005 9.8% 18%
2004 17.7% 9.72%
2003 6.71% 1.2%
2002 7.89% -5.91%
2001 4.48% -3.91%
2000 4.62% 3.18%
1999 -4.35% -5.99%
1998 -7% -8.88%
1997 -9.4% -2.51%
1996 -8.73% -3.25%
1995 -5.78% -5.12%
1994 -11.8% -8.31%
1993 -9.53% -9.33%
1992 -2.74% -8.12%
1991 -2.57% -3.28%
1990 3.23% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

GeoRank.org/economy/qatar/saudi-arabia | 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 Saudi Arabia's deficit of $73.7B, or 5.77% of GDP.

Over the past 35 years, Qatar recorded a fiscal deficit in 13 of those years, while Saudi Arabia ran a deficit in 23 years. On average, Qatar posted an annual surplus equal to 2.92% of GDP, compared to deficit of 0.34% of GDP for Saudi Arabia.

Inflation comparison by year

Inflation
Qatar

Saudi Arabia
1x
Year Consumer prices inflation
Qatar Saudi Arabia
2025 0.6% 2.08%
2024 1.2% 1.69%
2023 3.1% 2.33%
2022 5% 2.47%
2021 2.3% 3.06%
2020 -2.5% 3.37%
2019 -0.9% -1.19%
2018 0.1% 2.47%
2017 0.6% -0.83%
2016 2.7% 2.05%
2015 0.9% 1.22%
2014 4.2% 2.24%
2013 3.1% 3.51%
2012 1.8% 2.87%
2011 2% 5.83%
2010 -2.4% 5.34%
2009 -4.9% 5.06%
2008 15.1% 9.87%
2007 13.7% 4.17%
2006 11.7% 2.21%
2005 9% 0.48%
2004 6.8% 0.52%
2003 2.3% 0.61%
2002 0.2% 0.25%
2001 1.7% -1.12%
2000 1.6% -1.12%
1999 2.2% -1.33%
1998 2.9% -0.37%
1997 2.7% 0.06%

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

GeoRank.org/economy/qatar/saudi-arabia | CC BY

Over the past 29 years, Qatar has recorded an average annual inflation rate of 2.99%, compared with 1.99% in Saudi Arabia. In 2025, inflation was 0.6% in Qatar and 2.08% in Saudi Arabia.

Top exports between countries

Qatar
Export category Export value
Machinery & equipment $606M
Raw materials & minerals $189M
Metals $127M
Chemicals & pharma $40.7M
Textiles & consumer goods $35.7M
Animal & marine products $17.1M
Wood & paper products $9.86M
Raw agricultural goods $4.84M
Processed food, beverages & tobacco $3.36M
Precious metals & jewellery $982K
Saudi Arabia
Export category Export value
Machinery & equipment $1.12B
Chemicals & pharma $132M
Processed food, beverages & tobacco $98.8M
Precious metals & jewellery $88.7M
Animal & marine products $56.8M
Raw agricultural goods $52M
Textiles & consumer goods $49.1M
Raw materials & minerals $44M
Metals $43.2M
Wood & paper products $29.9M

Balance of trade

Qatar Saudi Arabia
Current account balance
$31.9B
2025
-$32.7B
2025
Current account balance ranking
17/190
2025
185/190
2025
Current account balance, % of GDP
+14.8%
2025
-2.56%
2025
Goods imports
$34.3B
2025
$230B
2025
Goods exports
$90B
2025
$311B
2025
Service imports
$31.3B
2025
$129B
2025
Service exports
$24.4B
2025
$69.4B
2025
Imports of goods and services, % of GDP
31.6%
2022
28.2%
2025
Exports of goods and services, % of GDP
68.6%
2022
29.7%
2025

Economic freedom indices

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

Qatar Saudi Arabia
Economic freedom 70.2 65.4
Economic freedom ranking 37/197 65/197
Property rights 66.2 51.4
Government integrity 53.5 52.7
Judicial effectiveness 41.5 38.2
Tax burden 99.9 99.2
Government spending 79.9 77
Fiscal health 96.6 97.9
Business freedom 68 71.2
Labor freedom 58.5 41.8
Monetary freedom 76 81.2
Trade freedom 81.8 73.8
Investment freedom 60 50
Financial freedom 60 50

Economic freedom comparison by year

Qatar
Saudi Arabia
1x
Year Economic freedom index
Qatar Saudi Arabia
2026 70.2 65.4
2025 70.2 64.4
2024 68.8 61.9
2023 68.6 58.3
2022 67.7 55.5
2021 72 66
2020 72.3 62.4
2019 72.6 60.7
2018 72.6 59.6
2017 73.1 64.4
2016 70.7 62.1
2015 70.8 62.1
2014 71.2 62.2
2013 71.3 60.6
2012 71.3 62.5
2011 70.5 66.2
2010 69 64.1
2009 65.8 64.3
2008 62.2 62.5
2007 62.9 60.9
2006 62.4 63
2005 63.5 63
2004 66.5 60.4
2003 65.9 63.2
2002 61.9 65.3
2001 60 62.2
2000 62 66.5
1999 62 65.5
1998 - 69.3
1997 - 68.7
1996 - 68.3

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-07-08).

GeoRank.org/economy/qatar/saudi-arabia | CC BY

The Economic Freedom Index for Qatar is 70.2, ranking 37/197, compared to 65.4 for Saudi Arabia, ranking 65/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Qatar Saudi Arabia
Services, % of GDP
47%
2025
48.9%
2025
Industry, % of GDP
57%
2025
43%
2025
Agriculture, forestry, and fishing, % of GDP
0.31%
2025
2.59%
2025
GNI, Atlas method
$221B
2025
$1.33T
2025
GNI per capita, PPP
$126,290
2025
$74,400
2025
Total reserves including gold
$55.8B
2025
$505B
2025
Total reserves ranking
45/177
2025
8/177
2025
Net foreign direct investment
$311M
2025
-$5.6B
2025
Net inflows of foreign direct investment
$460M
2024
$21.3B
2024
Net outflows of foreign direct investment
$1.56B
2024
$27.6B
2024
Gross capital formation, % of GDP
30.6%
2022
31.6%
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/saudi-arabia | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. TradeMap (2024–2025, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. 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.

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.