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Economy of Qatar vs Singapore compared: GDP & Debt

Updated on by Georank

Qatar has a GDP of $216B compared to $604B for Singapore, ranking 56/197 and 28/197 by economy size, respectively.

Qatar has $89.2B in government debt (41.4% of GDP), compared to $1.03T (171.3% of GDP) in Singapore.

Qatar vs Singapore GDP by year

Qatar
Singapore
1x
Year GDP, current $
Qatar Singapore
2025 $215,559,615,385 $603,869,516,999
2024 $216,294,505,495 $572,877,260,178
2023 $213,002,809,341 $511,181,761,244
2022 $235,709,325,714 $514,252,535,239
2021 $179,732,009,560 $441,110,903,525
2020 $144,411,363,352 $351,226,533,656
2019 $176,371,267,692 $376,827,390,962
2018 $183,334,953,819 $377,976,367,877
2017 $161,099,122,225 $344,795,119,214
2016 $151,732,181,868 $320,759,207,439
2015 $161,739,955,577 $307,998,545,269
2014 $206,224,598,571 $314,863,580,758
2013 $198,727,642,967 $307,576,360,585
2012 $186,833,502,363 $295,092,888,077
2011 $167,775,274,725 $279,356,499,090
2010 $125,122,252,747 $239,807,980,591
2009 $97,798,351,648 $194,150,283,772
2008 $115,269,780,220 $193,617,323,539
2007 $79,711,813,187 $180,941,701,358
2006 $60,882,142,857 $148,627,286,361
2005 $44,530,494,505 $127,807,848,728
2004 $31,734,065,934 $115,033,593,101
2003 $23,533,791,209 $97,646,401,096
2002 $19,363,736,264 $92,538,372,870
2001 $17,538,461,538 $89,793,790,670
2000 $17,759,890,110 $96,076,539,926
1999 $12,393,131,868 $86,286,849,755
1998 $10,255,494,505 $85,728,207,782
1997 $11,297,802,198 $100,123,787,215
1996 $9,059,340,659 $96,293,086,513
1995 $8,137,912,088 $87,812,540,788
1994 $7,374,450,549 $73,688,724,431
1993 $7,156,593,407 $60,603,815,716
1992 $7,646,153,846 $52,131,320,033
1991 $6,883,516,484 $45,466,164,978
1990 $7,360,439,560 $36,144,336,769
1989 $6,487,912,088 $30,465,364,739
1988 $6,038,186,813 $25,371,462,488
1987 $5,446,428,571 $20,919,215,578
1986 $5,053,021,978 $18,586,746,057
1985 $6,153,296,703 $19,156,532,746
1984 $6,870,329,670 $19,749,361,098
1983 $6,484,890,110 $17,784,112,150
1982 $7,611,263,736 $16,084,252,378
1981 $8,672,527,473 $14,175,228,844
1980 $7,837,915,956 $11,896,256,783
1979 $5,632,962,997 $9,296,921,724
1978 $4,052,000,413 $7,517,176,355
1977 $3,617,564,638 $6,618,585,074
1976 $3,284,273,987 $6,327,077,974
1975 $2,512,773,166 $5,633,673,930
1974 $2,401,403,227 $5,221,534,956
1973 $793,885,560 $3,696,213,333
1972 $510,262,500 $2,721,440,981
1971 $387,703,106 $2,263,785,444
1970 $301,791,302 $1,920,574,150
1969 - $1,659,893,768
1968 - $1,425,706,091
1967 - $1,238,035,816
1966 - $1,096,425,608
1965 - $974,644,096
1964 - $894,153,311
1963 - $917,608,012
1962 - $826,239,212
1961 - $764,629,788
1960 - $704,751,700

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

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

GDP per capita in Qatar vs Singapore by year

Qatar
GDP per capita

GDP per capita, PPP
Singapore
GDP per capita

GDP per capita, PPP
1x
Year Current $
Qatar Singapore
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $72,525 - $98,814 -
2024 $75,685 $126,046 $94,897 $150,689
2023 $80,196 $129,368 $86,383 $143,786
2022 $88,701 $122,921 $91,228 $143,095
2021 $71,752 $116,833 $80,885 $132,617
2020 $51,684 $82,149 $61,773 $101,518
2019 $66,841 $107,503 $66,069 $105,335
2018 $71,040 $110,033 $67,033 $103,963
2017 $63,280 $99,358 $61,436 $95,744
2016 $61,254 $89,935 $57,204 $89,902
2015 $68,985 $102,546 $55,646 $87,156
2014 $95,841 $148,389 $57,565 $84,555
2013 $103,697 $169,203 $56,967 $83,088
2012 $108,470 $180,939 $55,548 $82,108
2011 $103,262 $174,620 $53,891 $80,052
2010 $77,387 $151,646 $47,237 $75,401
2009 $60,786 $125,898 $38,927 $66,213
2008 $80,781 $126,015 $40,009 $67,735
2007 $65,954 $124,056 $39,433 $68,805
2006 $62,582 $127,181 $33,768 $64,061
2005 $53,950 $115,250 $29,961 $58,822
2004 $41,036 $110,958 $27,608 $54,384
2003 $31,602 $94,120 $23,730 $48,778
2002 $27,227 $93,177 $22,160 $45,083
2001 $25,871 $89,805 $21,700 $43,109
2000 $27,535 $88,849 $23,853 $43,781
1999 $20,234 $84,690 $21,797 $39,949
1998 $17,665 $84,486 $21,829 $37,560
1997 $20,523 $79,219 $26,376 $39,286
1996 $17,125 $62,331 $26,233 $36,873
1995 $15,823 $60,321 $24,915 $35,090
1994 $14,765 $59,415 $21,552 $33,058
1993 $14,770 $59,125 $18,290 $30,062
1992 $16,280 $60,387 $16,136 $27,022
1991 $15,133 $54,759 $14,502 $25,530
1990 $16,722 $55,659 $11,862 $23,815
1989 $15,243 - $10,395 -
1988 $14,682 - $8,914 -
1987 $13,719 - $7,539 -
1986 $13,213 - $6,800 -
1985 $16,815 - $7,002 -
1984 $19,749 - $7,228 -
1983 $19,669 - $6,633 -
1982 $24,431 - $6,078 -
1981 $29,543 - $5,597 -
1980 $28,407 - $4,928 -
1979 $21,777 - $3,901 -
1978 $16,757 - $3,194 -
1977 $16,058 - $2,846 -
1976 $15,710 - $2,759 -
1975 $13,014 - $2,490 -
1974 $13,540 - $2,342 -
1973 $4,905 - $1,685 -
1972 $3,483 - $1,264 -
1971 $2,952 - $1,071 -
1970 $2,594 - $926 -
1969 - - $813 -
1968 - - $709 -
1967 - - $626 -
1966 - - $567 -
1965 - - $517 -
1964 - - $486 -
1963 - - $511 -
1962 - - $472 -
1961 - - $449 -
1960 - - $428 -

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

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

Qatar's GDP per capita is $72,525, ranking 13/197, compared to $98,814 in Singapore, ranking 7/197. Adjusted for purchasing power (GDP per capita PPP), Qatar ranks 5th at $126,046, while Singapore ranks 2nd at $150,689.

Economic indicators

Qatar Singapore
Gross domestic product
$216B
2025
$604B
2025
GDP rank
56/197
2025
28/197
2025
GDP growth
2.9%
2024-2025
5.03%
2024-2025
GDP per capita
$72,525
2025
$98,814
2025
GDP per capita rank
13/197
2025
7/197
2025
GDP per capita, PPP
$126,046
2024
$150,689
2024
GDP per capita PPP rank
5/197
2024
2/197
2024
Government debt
$89.2B
2025
$1.03T
2025
Debt-to-GDP ratio
41.4%
2025
171.3%
2025
Government debt per person
$30,009
2025
$169,228
2025
Government debt per person rank
24/185
2025
1/185
2025
Average annual personal income after taxes
$37,042
2026
$51,296
2026
Market capitalization of domestic companies
$177B
2025
$824B
2025
Number of millionaires
30,000
2026
244,000
2026
Number of billionaires
2
2026
55
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
15.5%
2025
Consumer prices inflation
0.6%
2024-2025
0.9%
2024-2025
Central bank interest rate
4.1%
2025
n/a
Unemployment rate
0.1%
2024
3.26%
2025
Population
3058826
6167445

Spending and national debt comparison by year

Qatar
Spending

Debt
Singapore
Spending

Debt
1x
Year % of GDP
Qatar Singapore
Government spending Government debt Government spending Government debt
2025 27.1% 41.4% 15.5% 171.3%
2024 26% 41.3% 14.3% 166%
2023 26.7% 42.8% 14.6% 170.4%
2022 24.3% 42.6% 14.9% 153.3%
2021 29.4% 58.4% 15.4% 139.9%
2020 34.7% 72.6% 24% 147.1%
2019 32.5% 62.1% 14% 127.7%
2018 28.9% 52.2% 13.9% 109.2%
2017 34.7% 51.6% 13.6% 107.3%
2016 40.1% 46.7% 15.2% 105.9%
2015 38.6% 35.5% 14.4% 102.1%
2014 32.3% 24.9% 12.6% 97.7%
2013 28.3% 30.9% 10.9% 98.2%
2012 31% 32.1% 9.83% 106.7%
2011 28.5% 33.5% 9.66% 103.1%
2010 32% 30.4% 10.2% 98.7%
2009 36.4% 36% 15.9% 101.7%
2008 23.5% 11.4% 14% 97.9%
2007 29.5% 9.37% 9.01% 87.8%
2006 29.5% 13.9% 12.3% 86.5%
2005 29% 19.1% 12.4% 92.7%
2004 29.9% 30.1% 14.1% 95.7%
2003 28.5% 38.8% 15.6% 99.1%
2002 31.6% 47.7% 15.9% 96.3%
2001 32.1% 59.2% 18.2% 94.5%
2000 29.8% 51.6% 16.1% 82.3%
1999 42.4% 81.8% 15.9% 85.3%
1998 55.1% 76.6% 18.1% 84.6%
1997 47.6% 54.4% 14.5% 70.8%
1996 55.2% 57.8% 18.1% 71.3%
1995 52.2% 50.2% 13.8% 69.8%
1994 59.8% 54.8% 11.7% 70.7%
1993 62.8% 46.3% 14.5% 71.2%
1992 54.2% 19.9% 14.5% 79%
1991 57.5% 21.8% 15.9% 76.4%
1990 50% 12.6% 15.1% 73.5%

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

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

In 2025, Qatar's government spending was $58.4B, accounting for 27.1% of its GDP, while Singapore spent $93.3B, or 15.5% of GDP.

Debt-to-GDP ratio is 41.4% in Qatar and 171.3% in Singapore, ranking 127/185 and 5/185, respectively.

Government deficit by year

Deficit/surplus
Qatar

Singapore
1x
Year Deficit/surplus, % of GDP
Qatar Singapore
2025 -1% 4.16%
2024 0.71% 3.79%
2023 5.51% 3.42%
2022 10.4% 1.2%
2021 0.24% 1.11%
2020 -2.13% -6.68%
2019 1% 3.76%
2018 2.26% 3.67%
2017 -6.82% 5.23%
2016 -9.2% 3.24%
2015 18.4% 2.86%
2014 13.4% 4.6%
2013 19.3% 5.96%
2012 8.55% 7.34%
2011 5.24% 7.96%
2010 4.6% 5.68%
2009 14.1% -0.09%
2008 9.49% 3.59%
2007 10.3% 7.12%
2006 8.39% 2.16%
2005 9.8% 2.56%
2004 17.7% 2.06%
2003 6.71% 0.68%
2002 7.89% 2.23%
2001 4.48% 1.2%
2000 4.62% 4.59%
1999 -4.35% 5.2%
1998 -7% 2.41%
1997 -9.4% 5.66%
1996 -8.73% 1.98%
1995 -5.78% 4.8%
1994 -11.8% 7.9%
1993 -9.53% 4.36%
1992 -2.74% 2.7%
1991 -2.57% 0.68%
1990 3.23% 1.97%

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

GeoRank.org/economy/qatar/singapore | 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 Singapore's surplus of $25.1B, or 4.16% of GDP.

Over the past 36 years, Qatar recorded a fiscal deficit in 13 of those years, while Singapore ran a deficit in 2 years. On average, Qatar posted an annual surplus equal to 2.92% of GDP, compared to surplus of 3.36% of GDP for Singapore.

Inflation comparison by year

Inflation
Qatar

Singapore
1x
Year Consumer prices inflation
Qatar Singapore
2025 0.6% 0.9%
2024 1.2% 2.39%
2023 3.1% 4.83%
2022 5% 6.13%
2021 2.3% 2.32%
2020 -2.5% -0.17%
2019 -0.9% 0.57%
2018 0.1% 0.44%
2017 0.6% 0.58%
2016 2.7% -0.53%
2015 0.9% -0.52%
2014 4.2% 1.03%
2013 3.1% 2.36%
2012 1.8% 4.58%
2011 2% 5.25%
2010 -2.4% 2.83%
2009 -4.9% 0.59%
2008 15.1% 6.64%
2007 13.7% 2.11%
2006 11.7% 0.97%
2005 9% 0.43%
2004 6.8% 1.66%
2003 2.3% 0.51%
2002 0.2% -0.39%
2001 1.7% 1%
2000 1.6% 1.36%
1999 2.2% 0.02%
1998 2.9% -0.27%
1997 2.7% 2%

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/singapore | CC BY

Over the past 29 years, Qatar has recorded an average annual inflation rate of 2.99%, compared with 1.71% in Singapore. In 2025, inflation was 0.6% in Qatar and 0.9% in Singapore.

Top exports between countries

Qatar
Export category Export value
Raw materials & minerals $6.45B
Metals $89.8M
Chemicals & pharma $78.8M
Machinery & equipment $25M
Textiles & consumer goods $15.1M
Precious metals & jewellery $13.1M
Animal & marine products $180K
Wood & paper products $169K
Weapons & explosives $103K
Processed food, beverages & tobacco $74K
Singapore
Export category Export value
Precious metals & jewellery $505M
Machinery & equipment $217M
Textiles & consumer goods $72.7M
Miscellaneous $47.2M
Chemicals & pharma $30.5M
Metals $23.6M
Processed food, beverages & tobacco $12M
Raw materials & minerals $7.37M
Animal & marine products $6M
Raw agricultural goods $3.29M

Balance of trade

Qatar Singapore
Current account balance
$31.9B
2025
$101B
2025
Current account balance ranking
17/190
2025
8/190
2025
Current account balance, % of GDP
+14.8%
2025
+16.7%
2025
Goods imports
$34.3B
2025
$475B
2025
Goods exports
$90B
2025
$652B
2025
Service imports
$31.3B
2025
$385B
2025
Service exports
$24.4B
2025
$422B
2025
Imports of goods and services, % of GDP
31.6%
2022
142.5%
2025
Exports of goods and services, % of GDP
68.6%
2022
177.9%
2025

Economic freedom indices

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

Qatar Singapore
Economic freedom 70.2 84.4
Economic freedom ranking 37/197 1/197
Property rights 66.2 89.2
Government integrity 53.5 86.1
Judicial effectiveness 41.5 58.3
Tax burden 99.9 89.5
Government spending 79.9 93.4
Fiscal health 96.6 80
Business freedom 68 90.6
Labor freedom 58.5 77
Monetary freedom 76 83.5
Trade freedom 81.8 95
Investment freedom 60 90
Financial freedom 60 80

Economic freedom comparison by year

Qatar
Singapore
1x
Year Economic freedom index
Qatar Singapore
2026 70.2 84.4
2025 70.2 84.1
2024 68.8 83.5
2023 68.6 83.9
2022 67.7 84.4
2021 72 89.7
2020 72.3 89.4
2019 72.6 89.4
2018 72.6 88.8
2017 73.1 88.6
2016 70.7 87.8
2015 70.8 89.4
2014 71.2 89.4
2013 71.3 88
2012 71.3 87.5
2011 70.5 87.2
2010 69 86.1
2009 65.8 87.1
2008 62.2 87.3
2007 62.9 87.1
2006 62.4 88
2005 63.5 88.6
2004 66.5 88.9
2003 65.9 88.2
2002 61.9 87.4
2001 60 87.8
2000 62 87.7
1999 62 86.9
1998 - 87
1997 - 87.3
1996 - 86.5
1995 - 86.3

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

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

The Economic Freedom Index for Qatar is 70.2, ranking 37/197, compared to 84.4 for Singapore, ranking 1/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Qatar Singapore
Services, % of GDP
47%
2025
71.6%
2025
Industry, % of GDP
57%
2025
22.7%
2025
Agriculture, forestry, and fishing, % of GDP
0.31%
2025
0.02%
2025
GNI, Atlas method
$221B
2025
$500B
2025
GNI per capita, PPP
$126,290
2025
$135,750
2025
Total reserves including gold
$55.8B
2025
$432B
2025
Total reserves ranking
45/177
2025
11/177
2025
Net foreign direct investment
$311M
2025
-$64.9B
2025
Net inflows of foreign direct investment
$460M
2024
$135B
2024
Net outflows of foreign direct investment
$1.56B
2024
$63.6B
2024
Gross capital formation, % of GDP
30.6%
2022
22.5%
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/singapore | 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 (1995–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. TradeMap (2023–2025, 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.