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Economy of Qatar vs Thailand compared: GDP & Debt

Updated on by Georank

Qatar has a GDP of $216B compared to $577B for Thailand, ranking 56/197 and 30/197 by economy size, respectively.

Qatar has $89.2B in government debt (41.4% of GDP), compared to $373B (64.7% of GDP) in Thailand.

Qatar vs Thailand GDP by year

Qatar
Thailand
1x
Year GDP, current $
Qatar Thailand
2025 $215,559,615,385 $577,009,981,112
2024 $216,294,505,495 $529,385,520,942
2023 $213,002,809,341 $517,013,369,475
2022 $235,709,325,714 $495,691,837,308
2021 $179,732,009,560 $506,049,783,825
2020 $144,411,363,352 $500,274,927,779
2019 $176,371,267,692 $543,976,691,794
2018 $183,334,953,819 $506,754,208,404
2017 $161,099,122,225 $456,356,813,537
2016 $151,732,181,868 $413,366,349,748
2015 $161,739,955,577 $401,296,238,228
2014 $206,224,598,571 $407,339,040,198
2013 $198,727,642,967 $420,333,654,593
2012 $186,833,502,363 $397,558,325,279
2011 $167,775,274,725 $370,818,739,624
2010 $125,122,252,747 $341,104,766,329
2009 $97,798,351,648 $281,710,630,187
2008 $115,269,780,220 $291,382,982,431
2007 $79,711,813,187 $262,942,621,455
2006 $60,882,142,857 $221,758,296,022
2005 $44,530,494,505 $189,318,408,469
2004 $31,734,065,934 $172,895,685,155
2003 $23,533,791,209 $152,280,615,246
2002 $19,363,736,264 $134,300,904,400
2001 $17,538,461,538 $120,296,476,180
2000 $17,759,890,110 $126,392,224,254
1999 $12,393,131,868 $126,669,211,779
1998 $10,255,494,505 $113,675,596,788
1997 $11,297,802,198 $150,180,456,566
1996 $9,059,340,659 $183,035,237,429
1995 $8,137,912,088 $169,278,916,593
1994 $7,374,450,549 $146,683,778,959
1993 $7,156,593,407 $128,889,262,951
1992 $7,646,153,846 $111,452,746,518
1991 $6,883,516,484 $98,234,714,971
1990 $7,360,439,560 $85,343,190,719
1989 $6,487,912,088 $72,250,748,100
1988 $6,038,186,813 $61,667,253,471
1987 $5,446,428,571 $50,535,446,555
1986 $5,053,021,978 $43,096,773,981
1985 $6,153,296,703 $38,900,711,333
1984 $6,870,329,670 $41,797,647,776
1983 $6,484,890,110 $40,042,798,388
1982 $7,611,263,736 $36,589,772,404
1981 $8,672,527,473 $34,846,039,194
1980 $7,837,915,956 $32,353,514,989
1979 $5,632,962,997 $27,371,650,825
1978 $4,052,000,413 $24,006,566,637
1977 $3,617,564,638 $19,779,312,261
1976 $3,284,273,987 $16,985,208,648
1975 $2,512,773,166 $14,882,770,594
1974 $2,401,403,227 $13,702,998,512
1973 $793,885,560 $10,838,587,358
1972 $510,262,500 $8,177,873,151
1971 $387,703,106 $7,375,000,024
1970 $301,791,302 $7,086,538,438
1969 - $6,695,336,567
1968 - $6,081,009,428
1967 - $5,638,461,442
1966 - $5,279,230,817
1965 - $4,388,937,649
1964 - $3,889,129,942
1963 - $3,540,403,457
1962 - $3,308,912,797
1961 - $3,034,037,811
1960 - $2,760,750,861

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

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

GDP per capita in Qatar vs Thailand by year

Qatar
GDP per capita

GDP per capita, PPP
Thailand
GDP per capita

GDP per capita, PPP
1x
Year Current $
Qatar Thailand
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $72,525 - $8,057 -
2024 $75,685 $126,046 $7,387 $24,712
2023 $80,196 $129,368 $7,211 $23,519
2022 $88,701 $122,921 $6,910 $22,243
2021 $71,752 $116,833 $7,055 $20,243
2020 $51,684 $82,149 $6,983 $19,164
2019 $66,841 $107,503 $7,606 $19,963
2018 $71,040 $110,033 $7,100 $18,876
2017 $63,280 $99,358 $6,413 $17,573
2016 $61,254 $89,935 $5,834 $16,671
2015 $68,985 $102,546 $5,689 $15,791
2014 $95,841 $148,389 $5,801 $15,365
2013 $103,697 $169,203 $6,018 $15,216
2012 $108,470 $180,939 $5,726 $14,617
2011 $103,262 $174,620 $5,374 $13,227
2010 $77,387 $151,646 $4,974 $12,932
2009 $60,786 $125,898 $4,135 $11,964
2008 $80,781 $126,015 $4,309 $12,062
2007 $65,954 $124,056 $3,919 $11,723
2006 $62,582 $127,181 $3,331 $10,912
2005 $53,950 $115,250 $2,868 $10,169
2004 $41,036 $110,958 $2,642 $9,545
2003 $31,602 $94,120 $2,348 $8,824
2002 $27,227 $93,177 $2,090 $8,148
2001 $25,871 $89,805 $1,890 $7,632
2000 $27,535 $88,849 $2,006 $7,289
1999 $20,234 $84,690 $2,033 $6,901
1998 $17,665 $84,486 $1,848 $6,590
1997 $20,523 $79,219 $2,473 $7,148
1996 $17,125 $62,331 $3,055 $7,322
1995 $15,823 $60,321 $2,864 $6,901
1994 $14,765 $59,415 $2,518 $6,341
1993 $14,770 $59,125 $2,245 $5,834
1992 $16,280 $60,387 $1,972 $5,347
1991 $15,133 $54,759 $1,766 $4,914
1990 $16,722 $55,659 $1,559 $4,451
1989 $15,243 - $1,342 -
1988 $14,682 - $1,164 -
1987 $13,719 - $970 -
1986 $13,213 - $842 -
1985 $16,815 - $774 -
1984 $19,749 - $847 -
1983 $19,669 - $827 -
1982 $24,431 - $770 -
1981 $29,543 - $748 -
1980 $28,407 - $709 -
1979 $21,777 - $612 -
1978 $16,757 - $548 -
1977 $16,058 - $462 -
1976 $15,710 - $405 -
1975 $13,014 - $364 -
1974 $13,540 - $343 -
1973 $4,905 - $278.3 -
1972 $3,483 - $215.6 -
1971 $2,952 - $199.7 -
1970 $2,594 - $197.1 -
1969 - - $191.4 -
1968 - - $178.8 -
1967 - - $170.7 -
1966 - - $164.5 -
1965 - - $140.9 -
1964 - - $128.6 -
1963 - - $120.7 -
1962 - - $116.2 -
1961 - - $109.7 -
1960 - - $102.8 -

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

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

Qatar's GDP per capita is $72,525, ranking 13/197, compared to $8,057 in Thailand, ranking 97/197. Adjusted for purchasing power (GDP per capita PPP), Qatar ranks 5th at $126,046, while Thailand ranks 85th at $24,712.

Economic indicators

Qatar Thailand
Gross domestic product
$216B
2025
$577B
2025
GDP rank
56/197
2025
30/197
2025
GDP growth
2.9%
2024-2025
2.44%
2024-2025
GDP per capita
$72,525
2025
$8,057
2025
GDP per capita rank
13/197
2025
97/197
2025
GDP per capita, PPP
$126,046
2024
$24,712
2024
GDP per capita PPP rank
5/197
2024
85/197
2024
Government debt
$89.2B
2025
$373B
2025
Debt-to-GDP ratio
41.4%
2025
64.7%
2025
Government debt per person
$30,009
2025
$5,211
2025
Government debt per person rank
24/185
2025
83/185
2025
Average annual personal income after taxes
$37,042
2026
$7,438
2026
Market capitalization of domestic companies
$177B
2025
$512B
2025
Number of millionaires
30,000
2026
100,001
2024
Number of billionaires
2
2026
25
2026
Income share by richest 10%
25.8%
2017
26%
2024
Income share by poorest 10%
2.6%
2017
3.4%
2024
Government expenditure, % of GDP
27.1%
2025
23%
2025
Consumer prices inflation
0.6%
2024-2025
-0.13%
2024-2025
Central bank interest rate
4.1%
2025
1.5%
2025
Unemployment rate
0.1%
2024
0.6%
2025
Population
3058826
71565981

Spending and national debt comparison by year

Qatar
Spending

Debt
Thailand
Spending

Debt
1x
Year % of GDP
Qatar Thailand
Government spending Government debt Government spending Government debt
2025 27.1% 41.4% 23% 64.7%
2024 26% 41.3% 22.6% 62.9%
2023 26.7% 42.8% 22.7% 62.2%
2022 24.3% 42.6% 24.7% 60.5%
2021 29.4% 58.4% 26.8% 58.4%
2020 34.7% 72.6% 24.9% 49.4%
2019 32.5% 62.1% 20.6% 41.1%
2018 28.9% 52.2% 21.2% 41.9%
2017 34.7% 51.6% 21.6% 41.8%
2016 40.1% 46.7% 21.4% 41.7%
2015 38.6% 35.5% 22.3% 42.6%
2014 32.3% 24.9% 22.2% 43.3%
2013 28.3% 30.9% 21.6% 42.2%
2012 31% 32.1% 22.3% 41.9%
2011 28.5% 33.5% 21.1% 39.1%
2010 32% 30.4% 22% 39.8%
2009 36.4% 36% 21.7% 42.4%
2008 23.5% 11.4% 19.2% 34.9%
2007 29.5% 9.37% 20% 36%
2006 29.5% 13.9% 18.7% 39.2%
2005 29% 19.1% 19.6% 45.5%
2004 29.9% 30.1% 19.3% 46.3%
2003 28.5% 38.8% 18.3% 47.5%
2002 31.6% 47.7% 25.7% 54.9%
2001 32.1% 59.2% 20.8% 57.5%
2000 29.8% 51.6% 19.3% 57.8%
1999 42.4% 81.8% 26.5% 56.6%
1998 55.1% 76.6% 23.9% 49.9%
1997 47.6% 54.4% 21.6% 40.5%
1996 55.2% 57.8% 18% 15.2%
1995 52.2% 50.2% 17.2% 5.12%
1994 59.8% 54.8% 16% 6.69%
1993 62.8% 46.3% 18.8% 9.14%
1992 54.2% 19.9% 17.8% 11.4%
1991 57.5% 21.8% 17% 14.1%
1990 50% 12.6% 16.6% 18%
1989 - - 16.5% 23.7%
1988 - - 15.1% 30.3%
1987 - - 17.5% 38.8%
1986 - - 19.5% 40.1%
1985 - - 20.5% 36.8%
1984 - - 19.3% 30.6%
1983 - - 19.5% 28.9%
1982 - - 20.2% 27.1%
1981 - - 19.1% 24.4%
1980 - - 18.7% 22.1%
1979 - - 16.9% 23.7%
1978 - - 16.6% 22.8%
1977 - - 16.1% 22.4%
1976 - - 15.6% 22%
1975 - - 14.2% 15.8%
1974 - - 13.2% 16.3%
1973 - - 15.9% 21.2%
1972 - - 18.5% 26.8%
1971 - - 18.8% 21.5%
1970 - - 17.6% 18.5%
1969 - - 15.9% 17.7%
1968 - - 16% 15.5%
1967 - - 15.5% 15%
1966 - - 14.7% 14.4%
1965 - - 14.7% 14.8%
1964 - - 13.3% 13.3%
1963 - - 12% 12.6%
1962 - - 11.9% 13.4%
1961 - - 9.58% 12.9%
1960 - - 12.1% 14.3%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1995, retrieved 2026-07-08).

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

In 2025, Qatar's government spending was $58.4B, accounting for 27.1% of its GDP, while Thailand spent $133B, or 23% of GDP.

Debt-to-GDP ratio is 41.4% in Qatar and 64.7% in Thailand, ranking 127/185 and 67/185, respectively.

Government deficit by year

Deficit/surplus
Qatar

Thailand
1x
Year Deficit/surplus, % of GDP
Qatar Thailand
2025 -1% -1.91%
2024 0.71% -1.29%
2023 5.51% -1.91%
2022 10.4% -4.61%
2021 0.24% -6.72%
2020 -2.13% -4.47%
2019 1% 0.43%
2018 2.26% 0.2%
2017 -6.82% -0.51%
2016 -9.2% 0.41%
2015 18.4% 0.19%
2014 13.4% -0.7%
2013 19.3% 0.6%
2012 8.55% -0.86%
2011 5.24% 0.09%
2010 4.6% -1.07%
2009 14.1% -2.21%
2008 9.49% 0.8%
2007 10.3% 0.22%
2006 8.39% 1.87%
2005 9.8% 2.17%
2004 17.7% 1.11%
2003 6.71% 1.98%
2002 7.89% -6.72%
2001 4.48% -1.77%
2000 4.62% -1.79%
1999 -4.35% -9.02%
1998 -7% -6.29%
1997 -9.4% -1.68%
1996 -8.73% 2.75%
1995 -5.78% 3.05%
1994 -11.8% 2.78%
1993 -9.53% 6.67%
1992 -2.74% -0.18%
1991 -2.57% 1.6%
1990 3.23% 1.41%
1989 - 0.16%
1988 - 0.58%
1987 - -2.38%
1986 - -4.32%
1985 - -5.11%
1984 - -3.85%
1983 - -4.02%
1982 - -6.18%
1981 - -4.07%
1980 - -4.41%
1979 - -3.62%
1978 - -3.31%
1977 - -2.91%
1976 - -3.35%
1975 - -1.73%
1974 - 1.29%
1973 - -2.7%
1972 - -4.81%
1971 - -5.47%
1970 - -3.73%
1969 - -2.53%
1968 - -2.79%
1967 - -2.1%
1966 - -1.13%
1965 - -1.05%
1964 - -1.01%
1963 - -0.81%
1962 - -0.27%
1961 - 0.05%
1960 - 0.48%
1959 - -1.15%
1958 - -0.91%
1957 - -1.31%
1956 - -1.38%
1955 - -1.65%
1954 - -3.46%
1953 - -3.56%
1952 - -2.4%
1951 - -3.54%
1950 - -0.7%
1949 - 0.7%
1948 - -0.1%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1948–1994, retrieved 2026-07-08).

GeoRank.org/economy/qatar/thailand | 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 Thailand's deficit of $11B, or 1.91% of GDP.

Over the past 36 years, Qatar recorded a fiscal deficit in 13 of those years, while Thailand ran a deficit in 18 years. On average, Qatar posted an annual surplus equal to 2.92% of GDP, compared to deficit of 0.7% of GDP for Thailand.

Inflation comparison by year

Inflation
Qatar

Thailand
1x
Year Consumer prices inflation
Qatar Thailand
2025 0.6% -0.13%
2024 1.2% 0.4%
2023 3.1% 1.23%
2022 5% 6.08%
2021 2.3% 1.23%
2020 -2.5% -0.85%
2019 -0.9% 0.71%
2018 0.1% 1.07%
2017 0.6% 0.66%
2016 2.7% 0.19%
2015 0.9% -0.9%
2014 4.2% 1.89%
2013 3.1% 2.19%
2012 1.8% 3.01%
2011 2% 3.81%
2010 -2.4% 3.25%
2009 -4.9% -0.85%
2008 15.1% 5.47%
2007 13.7% 2.24%
2006 11.7% 4.64%
2005 9% 4.54%
2004 6.8% 2.76%
2003 2.3% 1.8%
2002 0.2% 0.7%
2001 1.7% 1.63%
2000 1.6% 1.59%
1999 2.2% 0.28%
1998 2.9% 7.99%
1997 2.7% 5.63%

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/thailand | CC BY

Over the past 29 years, Qatar has recorded an average annual inflation rate of 2.99%, compared with 2.15% in Thailand. In 2025, inflation was 0.6% in Qatar and -0.13% in Thailand.

Top exports between countries

Qatar
Export category Export value
Raw materials & minerals $2.91B
Metals $115M
Chemicals & pharma $83.5M
Precious metals & jewellery $21.1M
Machinery & equipment $2.27M
Wood & paper products $309K
Animal & marine products $247K
Textiles & consumer goods $169K
Weapons & explosives $126K
Miscellaneous $28K
Thailand
Export category Export value
Machinery & equipment $218M
Precious metals & jewellery $53.3M
Processed food, beverages & tobacco $31.3M
Raw materials & minerals $18.5M
Wood & paper products $16.1M
Chemicals & pharma $12.1M
Textiles & consumer goods $10.5M
Raw agricultural goods $10.4M
Animal & marine products $7.69M
Metals $6.6M

Balance of trade

Qatar Thailand
Current account balance
$31.9B
2025
$15.9B
2025
Current account balance ranking
17/190
2025
20/190
2025
Current account balance, % of GDP
+14.8%
2025
+2.76%
2025
Goods imports
$34.3B
2025
$312B
2025
Goods exports
$90B
2025
$335B
2025
Service imports
$31.3B
2025
$77.2B
2025
Service exports
$24.4B
2025
$76.2B
2025
Imports of goods and services, % of GDP
31.6%
2022
67.3%
2025
Exports of goods and services, % of GDP
68.6%
2022
71.1%
2025

Economic freedom indices

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

Qatar Thailand
Economic freedom 70.2 62.2
Economic freedom ranking 37/197 88/197
Property rights 66.2 41.8
Government integrity 53.5 38.9
Judicial effectiveness 41.5 35
Tax burden 99.9 80.8
Government spending 79.9 83.6
Fiscal health 96.6 81
Business freedom 68 69.9
Labor freedom 58.5 56.4
Monetary freedom 76 73.3
Trade freedom 81.8 70.2
Investment freedom 60 55
Financial freedom 60 60

Economic freedom comparison by year

Qatar
Thailand
1x
Year Economic freedom index
Qatar Thailand
2026 70.2 62.2
2025 70.2 60.6
2024 68.8 59
2023 68.6 60.6
2022 67.7 63.2
2021 72 69.7
2020 72.3 69.4
2019 72.6 68.3
2018 72.6 67.1
2017 73.1 66.2
2016 70.7 63.9
2015 70.8 62.4
2014 71.2 63.3
2013 71.3 64.1
2012 71.3 64.9
2011 70.5 64.7
2010 69 64.1
2009 65.8 63
2008 62.2 62.3
2007 62.9 63.5
2006 62.4 63.3
2005 63.5 62.5
2004 66.5 63.7
2003 65.9 65.8
2002 61.9 69.1
2001 60 68.9
2000 62 66.6
1999 62 66.9
1998 - 67.3
1997 - 66.1
1996 - 71
1995 - 71.3

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

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

The Economic Freedom Index for Qatar is 70.2, ranking 37/197, compared to 62.2 for Thailand, ranking 88/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Qatar Thailand
Services, % of GDP
47%
2025
60.2%
2025
Industry, % of GDP
57%
2025
31.1%
2025
Agriculture, forestry, and fishing, % of GDP
0.31%
2025
8.75%
2025
GNI, Atlas method
$221B
2025
$551B
2025
GNI per capita, PPP
$126,290
2025
$25,570
2025
Total reserves including gold
$55.8B
2025
$282B
2025
Total reserves ranking
45/177
2025
15/177
2025
Net foreign direct investment
$311M
2025
-$9.51B
2025
Net inflows of foreign direct investment
$460M
2024
$14.3B
2024
Net outflows of foreign direct investment
$1.56B
2024
$7.36B
2024
Servicing debt to the IMF, % of GNI n/a
3.51%
2024
Poverty at national poverty lines n/a
5.4%
2022
Gross capital formation, % of GDP
30.6%
2022
22.1%
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/thailand | 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. International Monetary Fund (IMF) | Public Finances in Modern History (1948–1995, 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 (2022–2025, 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.