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Economy of Qatar vs Trinidad and Tobago compared: GDP & Debt

Updated on by Georank team

Qatar has a GDP of $219B compared to $25.6B for Trinidad and Tobago, ranking 56/197 and 115/197 by economy size, respectively.

Qatar has $90.2B in government debt (41.2% of GDP), compared to $16.5B (64.2% of GDP) in Trinidad and Tobago.

Qatar vs Trinidad and Tobago GDP by year

Qatar
Trinidad and Tobago
1x
Year GDP, current $
Qatar Trinidad
2024 $219,162,637,363 $25,633,544,529
2023 $217,308,516,484 $25,036,993,423
2022 $235,709,340,659 $28,341,164,301
2021 $179,732,142,857 $24,222,963,263
2020 $144,411,538,462 $20,888,515,184
2019 $176,371,428,571 $23,477,745,792
2018 $183,335,164,835 $23,883,058,083
2017 $161,099,175,824 $23,830,750,901
2016 $151,732,142,857 $23,624,322,193
2015 $161,739,835,165 $26,841,141,793
2014 $206,224,725,275 $29,474,180,005
2013 $198,727,747,253 $28,560,537,057
2012 $186,833,516,484 $27,147,349,937
2011 $167,775,274,725 $25,433,007,437
2010 $123,627,197,802 $22,157,920,592
2009 $97,798,351,648 $19,172,165,226
2008 $115,270,054,945 $27,871,587,350
2007 $79,712,087,912 $21,641,620,050
2006 $60,882,142,857 $18,369,361,094
2005 $44,530,494,505 $15,982,389,018
2004 $31,734,065,934 $13,280,291,990
2003 $23,533,791,209 $11,305,459,802
2002 $19,363,736,264 $9,008,298,229
2001 $17,538,461,538 $8,824,849,191
2000 $17,759,890,110 $8,154,342,116
1999 $12,393,131,868 $6,808,982,521
1998 $10,255,495,027 $6,043,686,654
1997 $11,297,802,115 $5,737,771,523
1996 $9,059,340,385 $5,759,570,336
1995 $8,137,911,978 $5,329,217,747
1994 $7,374,450,769 $4,947,181,646
1993 $7,156,593,654 $4,669,491,134
1992 $7,646,153,984 $5,439,552,941
1991 $6,883,516,484 $5,307,905,882
1990 $7,360,439,423 $5,068,000,000
1989 $6,487,912,088 $4,323,058,824
1988 $6,038,187,033 $4,496,910,569
1987 $5,446,428,681 $4,797,777,778
1986 $5,053,021,951 $4,794,444,444
1985 $6,153,296,456 $7,375,918,367
1984 $6,704,395,824 $7,757,083,333
1983 $6,467,582,308 $7,763,750,000
1982 $7,596,703,214 $8,140,416,667
1981 $8,661,263,764 $6,992,083,333
1980 $7,829,165,262 $6,235,833,333
1979 $5,632,962,997 $4,602,416,625
1978 $4,052,000,413 $3,562,333,458
1977 $3,617,564,638 $3,138,666,667
1976 $3,284,273,987 $2,500,424,955
1975 $2,512,773,166 $2,442,669,825
1974 $2,401,403,227 $2,042,001,071
1973 $793,885,560 $1,308,785,431
1972 $510,262,500 $1,083,391,758
1971 $387,703,106 $896,765,215
1970 $301,791,302 $821,850,000
1969 - $779,200,000
1968 - $758,899,950
1967 - $761,981,912
1966 - $723,739,857
1965 - $736,573,159
1964 - $711,897,520
1963 - $678,239,329
1962 - $619,322,810
1961 - $584,964,621
1960 - $535,673,252

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/qatar/trinidad-and-tobago | CC BY

GDP per capita in Qatar vs Trinidad and Tobago by year

Qatar
GDP per capita

GDP per capita, PPP
Trinidad and Tobago
GDP per capita

GDP per capita, PPP
1x
Year Current $
Qatar Trinidad
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $76,689 $126,046 $18,733 $36,329
2023 $81,817 $129,368 $18,308 $34,623
2022 $88,701 $122,921 $20,751 $32,979
2021 $71,752 $116,833 $17,713 $30,482
2020 $51,684 $82,149 $15,284 $26,731
2019 $66,841 $107,503 $17,213 $29,316
2018 $71,040 $110,033 $17,571 $28,673
2017 $63,280 $99,358 $17,566 $28,484
2016 $61,254 $89,935 $17,449 $28,232
2015 $68,985 $102,546 $19,887 $29,825
2014 $95,841 $148,389 $21,908 $32,027
2013 $103,697 $169,203 $21,305 $31,746
2012 $108,470 $180,939 $20,332 $31,883
2011 $103,262 $174,620 $19,151 $31,078
2010 $76,463 $151,646 $16,815 $30,778
2009 $60,786 $125,898 $14,634 $29,602
2008 $80,781 $126,015 $21,299 $30,807
2007 $65,954 $124,056 $16,607 $29,355
2006 $62,582 $127,181 $14,153 $27,393
2005 $53,950 $115,250 $12,346 $23,536
2004 $41,036 $110,958 $9,871 $20,674
2003 $31,602 $94,120 $8,445 $18,743
2002 $27,227 $93,177 $6,763 $16,141
2001 $25,871 $89,805 $6,657 $14,797
2000 $27,535 $88,849 $6,179 $13,953
1999 $20,234 $84,690 $5,179 $12,812
1998 $17,665 $84,486 $4,613 $11,735
1997 $20,523 $79,219 $4,394 $10,769
1996 $17,125 $62,331 $4,427 $9,883
1995 $15,823 $60,321 $4,115 $9,099
1994 $14,765 $59,415 $3,840 $8,631
1993 $14,770 $59,125 $3,647 $8,209
1992 $16,280 $60,387 $4,277 $8,129
1991 $15,133 $54,759 $4,205 $7,274
1990 $16,722 $55,659 $4,047 $6,878
1989 $15,243 - $3,482 -
1988 $14,682 - $3,656 -
1987 $13,719 - $3,941 -
1986 $13,213 - $3,985 -
1985 $16,815 - $6,212 -
1984 $19,272 - $6,613 -
1983 $19,616 - $6,690 -
1982 $24,385 - $7,091 -
1981 $29,505 - $6,160 -
1980 $28,375 - $5,559 -
1979 $21,777 - $4,155 -
1978 $16,757 - $3,258 -
1977 $16,058 - $2,907 -
1976 $15,710 - $2,345 -
1975 $13,014 - $2,319 -
1974 $13,540 - $1,962 -
1973 $4,905 - $1,273 -
1972 $3,483 - $1,067 -
1971 $2,952 - $894 -
1970 $2,594 - $829 -
1969 - - $795 -
1968 - - $783 -
1967 - - $797 -
1966 - - $768 -
1965 - - $793 -
1964 - - $780 -
1963 - - $756 -
1962 - - $704 -
1961 - - $678 -
1960 - - $634 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/qatar/trinidad-and-tobago | CC BY

Qatar's GDP per capita is $76,689, ranking 11/197, compared to $18,733 in Trinidad and Tobago, ranking 61/197. Adjusted for purchasing power (GDP per capita PPP), Qatar ranks 5th at $126,046, while Trinidad and Tobago ranks 62nd at $36,329.

Economic indicators

Qatar Trinidad
Gross domestic product
$219B
2024
$25.6B
2024
GDP rank
56/197
2024
115/197
2024
GDP growth
2.36%
2023-2024
2.51%
2023-2024
GDP per capita
$76,689
2024
$18,733
2024
GDP per capita rank
11/197
2024
61/197
2024
GDP per capita, PPP
$126,046
2024
$36,329
2024
GDP per capita PPP rank
5/197
2024
62/197
2024
Government debt
$90.2B
2024
$16.5B
2024
Debt-to-GDP ratio
41.2%
2024
64.2%
2024
Government debt per person
$31,579
2024
$12,028
2024
Government debt per person rank
23/185
2024
45/185
2024
Average annual personal income after taxes
$35,660
2026
$11,007
2026
Market capitalization of domestic companies
$170M
2024
$3.89B
2001
Number of millionaires
26,163
2025
n/a
Number of billionaires
2
2025
n/a
Income share by richest 10%
25.8%
2017
29.9%
1992
Income share by poorest 10%
2.6%
2017
2.1%
1992
Government expenditure, % of GDP
26%
2024
32.3%
2024
Consumer prices inflation
1.27%
2023-2024
0.53%
2023-2024
Central bank interest rate
4.1%
2025
3.5%
2020
Unemployment rate
0.13%
2022
4.01%
2024
Population
2999260
1374840

Spending and national debt comparison by year

Qatar
Spending

Debt
Trinidad and Tobago
Spending

Debt
1x
Year % of GDP
Qatar Trinidad
Government spending Government debt Government spending Government debt
2024 26% 41.2% 32.3% 64.2%
2023 27.3% 43.7% 33.5% 62.2%
2022 24.3% 42.6% 27.2% 51.3%
2021 29.4% 58.4% 30.3% 58.4%
2020 34.7% 72.6% 36.2% 62.5%
2019 32.5% 62.1% 31.2% 46.2%
2018 28.9% 52.2% 30.2% 41.5%
2017 34.7% 51.6% 30.7% 39.8%
2016 40.1% 46.7% 31.9% 35.4%
2015 38.6% 35.5% 35% 27.1%
2014 32.3% 24.9% 32.8% 23.5%
2013 28.3% 30.9% 31.3% 21.6%
2012 31% 32.1% 29.5% 21.8%
2011 28.5% 33.5% 29.4% 26.4%
2010 32% 30.4% 30.4% 16.8%
2009 36.4% 36% 37% 20.7%
2008 23.5% 11.4% 26.7% 13.5%
2007 29.5% 9.37% 25.7% 16.2%
2006 29.5% 13.9% 31.6% 16.9%
2005 29% 19.1% 26.7% 19.8%
2004 29.9% 30.1% 22.5% 24.2%
2003 28.5% 38.8% 22.2% 30.2%
2002 31.6% 47.7% 24.4% 37%
2001 32.1% 59.2% 24.8% 36.6%
2000 29.8% 51.6% 23.1% 38.9%
1999 42.4% 81.8% 24.1% 42.2%
1998 55.1% 76.6% 26.9% 42.8%
1997 47.6% 54.4% 27.2% 46.1%
1996 55.2% 57.8% 27.6% 47%
1995 52.2% 50.2% 26.2% 50.1%
1994 59.8% 54.8% 25.4% 52.6%
1993 62.8% 46.3% 26.9% 58.8%
1992 54.2% 19.9% 28.6% 49.2%
1991 57.5% 21.8% 29.6% 49.5%
1990 50% 12.6% 26.9% 47.7%
1989 - - 30.9% 51.9%
1988 - - 45.3% 65.3%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1988–1989, retrieved 2026-02-20).

GeoRank.org/economy/qatar/trinidad-and-tobago | CC BY

In 2024, Qatar's government spending was $56.9B, accounting for 26% of its GDP, while Trinidad and Tobago spent $8.28B, or 32.3% of GDP.

Debt-to-GDP ratio is 41.2% in Qatar and 64.2% in Trinidad and Tobago, ranking 130/185 and 70/185, respectively.

Government deficit by year

Deficit/surplus
Qatar

Trinidad and Tobago
1x
Year Deficit/surplus, % of GDP
Qatar Trinidad
2024 0.69% -5.24%
2023 5.56% -1.24%
2022 10.4% 0.92%
2021 0.24% -8.1%
2020 -2.13% -12.2%
2019 1% -3.74%
2018 2.26% -5.89%
2017 -6.82% -10.4%
2016 -9.2% -10.1%
2015 18.4% -7.56%
2014 13.4% -4.31%
2013 19.3% -2.67%
2012 8.55% -1.26%
2011 5.24% -0.67%
2010 4.6% 0.13%
2009 14.1% -5.42%
2008 9.49% 5.39%
2007 10.3% 3.12%
2006 8.39% 1.56%
2005 9.8% 2.36%
2004 17.7% 1.84%
2003 6.71% 1.8%
2002 7.89% -0.2%
2001 4.48% 0.61%
2000 4.62% 0.17%
1999 -4.35% -0.88%
1998 -7% -1.8%
1997 -9.4% 0.11%
1996 -8.73% -0.45%
1995 -5.78% 0.17%
1994 -11.8% -0.02%
1993 -9.53% 0.23%
1992 -2.74% -2.74%
1991 -2.57% -0.21%
1990 3.23% -1.27%
1989 - -4.46%
1988 - -9.34%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1988–1989, retrieved 2026-02-20).

GeoRank.org/economy/qatar/trinidad-and-tobago | CC BY

In 2024, Qatar's government surplus, the difference between spending and revenue, was $1.52B, equivalent to 0.69% of GDP. This compares to Trinidad and Tobago's deficit of $1.34B, or 5.24% of GDP.

Over the past 35 years, Qatar recorded a fiscal deficit in 12 of those years, while Trinidad and Tobago ran a deficit in 22 years. On average, Qatar posted an annual surplus equal to 3.04% of GDP, compared to deficit of 1.94% of GDP for Trinidad and Tobago.

Inflation comparison by year

Inflation
Qatar

Trinidad and Tobago
1x
Year Consumer prices inflation
Qatar Trinidad
2024 1.27% 0.53%
2023 3.03% 4.63%
2022 5% 5.83%
2021 2.3% 2.06%
2020 -2.54% 0.6%
2019 -0.67% 1%
2018 0.26% 1.02%
2017 0.39% 1.88%
2016 2.68% 3.07%
2015 1.81% 4.66%
2014 3.35% 5.68%
2013 3.22% 5.2%
2012 2.32% 9.26%
2011 1.14% 5.11%
2010 -2.43% 10.5%
2009 -4.86% 6.98%
2008 15.1% 12%
2007 13.8% 7.89%
2006 11.8% 8.33%
2005 8.81% 6.87%
2004 6.8% 3.72%
2003 2.26% 3.81%
2002 0.24% 4.15%
2001 1.47% 5.54%
2000 1.65% 3.56%
1999 2.18% 3.44%
1998 2.95% 5.61%
1997 4.83% 3.63%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/qatar/trinidad-and-tobago | CC BY

Over the past 28 years, Qatar has recorded an average annual inflation rate of 3.15%, compared with 4.88% in Trinidad and Tobago. In 2024, inflation was 1.27% in Qatar and 0.53% in Trinidad and Tobago.

Top exports between countries

Qatar
Export category Export value
Machinery & equipment $362K
Trinidad
Export category Export value
Machinery & equipment $393K
Miscellaneous $34K
Chemicals & pharma $14K
Textiles & consumer goods $14K
Metals $10K
Raw materials & minerals $2K

Balance of trade

Qatar Trinidad
Current account balance
$37.9B
2024
$645M
2024
Current account balance ranking
16/190
2024
58/190
2024
Current account balance, % of GDP
+17.3%
2024
+2.52%
2024
Goods imports
$32.6B
2024
$7.54B
2024
Goods exports
$95B
2024
$10B
2024
Service imports
$37.1B
2024
$2.71B
2024
Service exports
$30.2B
2024
$1.26B
2024
Imports of goods and services, % of GDP
31.6%
2022
n/a
Exports of goods and services, % of GDP
68.6%
2022
45%
2025

Economic freedom indices

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

Qatar Trinidad
Economic freedom 70.2 62.4
Economic freedom ranking 37/197 87/197
Property rights 66.2 47.3
Government integrity 53.5 45.5
Judicial effectiveness 41.5 58.8
Tax burden 99.9 76.1
Government spending 79.9 71.1
Fiscal health 96.6 86.3
Business freedom 68 67.1
Labor freedom 58.5 57.2
Monetary freedom 76 81
Trade freedom 81.8 68.8
Investment freedom 60 50
Financial freedom 60 40

Economic freedom comparison by year

Qatar
Trinidad and Tobago
1x
Year Economic freedom index
Qatar Trinidad
2026 70.2 62.4
2025 70.2 63.6
2024 68.8 60.4
2023 68.6 59.5
2022 67.7 58.8
2021 72 59
2020 72.3 58.3
2019 72.6 57
2018 72.6 57.7
2017 73.1 61.2
2016 70.7 62.9
2015 70.8 64.1
2014 71.2 62.7
2013 71.3 62.3
2012 71.3 64.4
2011 70.5 66.5
2010 69 65.7
2009 65.8 68
2008 62.2 69.5
2007 62.9 70.6
2006 62.4 70.4
2005 63.5 71.5
2004 66.5 71.3
2003 65.9 68.8
2002 61.9 70.1
2001 60 71.8
2000 62 74.5
1999 62 72.4
1998 - 72
1997 - 71.3
1996 - 69.2

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09).

GeoRank.org/economy/qatar/trinidad-and-tobago | CC BY

The Economic Freedom Index for Qatar is 70.2, ranking 37/197, compared to 62.4 for Trinidad and Tobago, ranking 87/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Qatar Trinidad
Services, % of GDP
46.1%
2024
59.2%
2024
Industry, % of GDP
58.2%
2024
34.6%
2024
Agriculture, forestry, and fishing, % of GDP
0.29%
2024
0.78%
2024
GNI, Atlas method
$221B
2024
$27B
2024
GNI per capita, PPP
$121,900
2024
$36,580
2024
Total reserves including gold
$54B
2024
$5.6B
2024
Total reserves ranking
40/177
2024
94/177
2024
Net foreign direct investment
$1.1B
2024
$980M
2024
Net inflows of foreign direct investment
$460M
2024
-$453M
2024
Net outflows of foreign direct investment
$1.56B
2024
$527M
2024
Poverty at national poverty lines n/a
20%
2020
Gross capital formation, % of GDP
30.6%
2022
19%
2023

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/trinidad-and-tobago | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1988–1989, retrieved 2026-02-20)
  6. TradeMap (2020–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)
  9. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

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.