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Economy of Qatar vs Ukraine compared: GDP & Debt

Updated on by Georank team

Qatar has a GDP of $218B compared to $191B for Ukraine, ranking 56/197 and 57/197 by economy size, respectively.

Qatar has $89B in government debt (40.5% of GDP), compared to $171B (110% of GDP) in Ukraine.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Qatar
GDP, current $

GDP, constant 2015 $
Ukraine
GDP, current $

GDP, constant 2015 $
Year GDP
Qatar Ukraine
Current $ Constant $ Current $ Constant $
1970 $301,791,302 $8,816,161,355 - -
1971 $387,703,106 $9,698,469,706 - -
1972 $510,262,500 $10,773,000,939 - -
1973 $793,885,560 $11,934,857,801 - -
1974 $2,401,403,227 $12,643,579,838 - -
1975 $2,512,773,166 $13,386,912,643 - -
1976 $3,284,273,987 $14,504,574,217 - -
1977 $3,617,564,638 $13,444,952,239 - -
1978 $4,052,000,413 $14,636,627,610 - -
1979 $5,632,962,997 $15,401,791,822 - -
1980 $7,829,165,262 $15,245,244,656 - -
1981 $8,661,263,764 $15,382,600,057 - -
1982 $7,596,703,214 $14,325,124,118 - -
1983 $6,467,582,308 $14,063,666,907 - -
1984 $6,704,395,824 $14,718,715,618 - -
1985 $6,153,296,456 $14,406,653,786 - -
1986 $5,053,021,951 $15,175,362,083 - -
1987 $5,446,428,681 $15,182,189,691 $64,087,694,038 $161,845,930,096
1988 $6,038,187,033 $16,078,614,414 $74,703,517,903 $165,999,646,445
1989 $6,487,912,088 $17,079,059,748 $82,709,161,099 $172,428,984,083
1990 $7,360,439,423 $17,662,217,767 $81,393,558,423 $161,487,959,613
1991 $6,883,516,484 $17,368,630,639 $77,350,733,982 $147,438,507,127
1992 $7,646,153,984 $19,336,588,147 $73,945,908,384 $132,842,094,919
1993 $7,156,593,654 $19,080,352,035 $65,648,559,903 $113,978,517,441
1994 $7,374,450,769 $19,351,046,596 $52,549,580,265 $87,877,436,948
1995 $8,137,911,978 $19,815,323,915 $48,213,856,469 $77,156,389,640
1996 $9,059,340,385 $20,682,028,462 $44,558,831,005 $69,440,750,676
1997 $11,297,802,115 $26,889,127,081 $50,151,531,592 $67,357,528,157
1998 $10,255,495,027 $29,905,724,793 $41,882,523,345 $66,077,735,120
1999 $12,393,131,868 $31,186,905,301 $31,580,639,554 $65,945,579,650
2000 $17,759,890,110 $33,690,629,183 $32,375,083,935 $69,836,368,849
2001 $17,538,461,538 $35,003,952,797 $39,309,580,983 $75,981,969,311
2002 $19,363,736,264 $37,517,989,781 $43,956,163,612 $80,039,138,413
2003 $23,533,791,209 $38,913,643,497 $52,010,355,753 $87,656,150,954
2004 $31,734,065,934 $46,392,423,696 $67,220,154,164 $97,995,502,972
2005 $44,530,494,505 $49,868,495,958 $89,238,865,119 $101,005,170,643
2006 $60,882,142,857 $62,919,203,862 $111,884,752,475 $108,652,697,105
2007 $79,712,087,912 $74,235,635,940 $148,733,861,386 $117,579,433,691
2008 $115,270,054,945 $87,348,289,336 $188,110,390,660 $120,217,318,405
2009 $97,798,351,648 $97,792,140,945 $121,552,153,444 $102,020,662,582
2010 $125,122,306,346 $116,951,901,413 $141,209,170,427 $106,195,352,550
2011 $167,775,268,626 $132,594,424,543 $169,333,835,202 $111,977,987,704
2012 $186,833,502,363 $138,866,156,528 $182,591,753,828 $112,148,546,939
2013 $198,727,642,967 $146,581,616,624 $190,498,811,460 $112,199,506,223
2014 $206,224,598,571 $154,400,753,941 $133,503,871,862 $100,891,035,819
2015 $161,739,955,577 $161,739,955,577 $91,030,967,789 $91,030,967,789
2016 $151,732,181,868 $166,695,978,169 $93,355,869,404 $93,253,017,277
2017 $161,099,122,225 $164,199,531,362 $112,090,505,082 $95,453,762,636
2018 $183,334,953,819 $166,227,185,730 $130,891,088,294 $98,783,535,744
2019 $176,371,267,692 $167,371,229,300 $153,883,047,510 $101,944,118,787
2020 $144,411,363,352 $161,416,823,769 $156,617,722,013 $98,118,341,608
2021 $179,732,009,560 $164,042,828,071 $199,765,859,571 $101,499,127,458
2022 $235,709,325,714 $170,908,036,354 $161,989,520,721 $72,309,415,410
2023 $213,002,809,341 $172,936,988,055 $181,221,517,869 $76,311,548,882
2024 $217,982,967,033 $177,724,600,424 $190,741,263,732 $78,535,131,746

Economic indicators

Qatar Ukraine
Gross domestic product
$218B
2024
$191B
2024
GDP rank
56/197
2024
57/197
2024
GDP growth
2.34%
2023-2024
5.25%
2023-2024
GDP per capita
$76,276
2024
$5,038
2024
GDP per capita rank
11/197
2024
118/197
2024
GDP per capita, PPP
$126,110
2024
$18,550
2024
Government debt
$89B
2024
$171B
2024
Debt-to-GDP ratio
40.5%
2025
110%
2025
Government debt per person
$31,151
2024
$4,526
2024
Government debt per person rank
23/185
2024
85/185
2024
Average annual personal income after taxes
$36,023
2025
$5,178
2025
Market capitalization of domestic companies
$170M
2024
$4.42B
2018
Number of millionaires
26,163
2024
n/a
Number of billionaires
2
2025
7
2025
Income share by richest 10%
25.8%
2017
21.7%
2020
Income share by poorest 10%
2.6%
2017
4.3%
2020
Government expenditure, % of GDP
26.5%
2025
58%
2025
Consumer prices inflation
0.1%
2024-2025
12.6%
2024-2025
Central bank interest rate
4.6%
2025
15.5%
2025
Unemployment rate
0.13%
2022
9.83%
2021
Population
2964497
39426577

GDP per capita in Qatar vs Ukraine

Qatar's GDP per capita is $76,276, ranking 11/197, compared to $5,038 in Ukraine, ranking 118/197. Adjusted for purchasing power (GDP per capita PPP), Qatar ranks 5th at $126,110, while Ukraine ranks 99th at $18,550.

Qatar
GDP per capita

GDP per capita, PPP
Ukraine
GDP per capita

GDP per capita, PPP
Year Current $
Qatar Ukraine
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1970 $2,594 - - -
1971 $2,952 - - -
1972 $3,483 - - -
1973 $4,905 - - -
1974 $13,540 - - -
1975 $13,014 - - -
1976 $15,710 - - -
1977 $16,058 - - -
1978 $16,757 - - -
1979 $21,777 - - -
1980 $28,375 - - -
1981 $29,505 - - -
1982 $24,385 - - -
1983 $19,616 - - -
1984 $19,272 - - -
1985 $16,815 - - -
1986 $13,213 - - -
1987 $13,719 - $1,244 -
1988 $14,682 - $1,444 -
1989 $15,243 - $1,593 -
1990 $16,722 $55,659 $1,564 $7,591
1991 $15,133 $54,759 $1,483 $7,148
1992 $16,280 $60,387 $1,413 $6,568
1993 $14,770 $59,125 $1,254 $5,766
1994 $14,765 $59,415 $1,009 $4,565
1995 $15,823 $60,321 $933 $4,124
1996 $17,125 $62,331 $870 $3,812
1997 $20,523 $79,219 $987 $3,794
1998 $17,665 $84,486 $831 $3,794
1999 $20,234 $84,690 $632 $3,871
2000 $27,535 $88,849 $653 $4,228
2001 $25,871 $89,805 $800 $4,747
2002 $27,227 $93,176 $903 $5,123
2003 $31,602 $94,120 $1,076 $5,764
2004 $41,036 $110,958 $1,401 $6,663
2005 $53,950 $115,250 $1,875 $7,142
2006 $62,582 $127,181 $2,366 $7,971
2007 $65,954 $124,056 $3,160 $8,900
2008 $80,781 $126,015 $4,018 $9,324
2009 $60,786 $125,898 $2,607 $7,995
2010 $77,387 $151,646 $3,040 $8,453
2011 $103,262 $174,620 $3,657 $9,127
2012 $108,470 $180,939 $3,951 $9,552
2013 $103,697 $169,203 $4,130 $10,904
2014 $95,841 $148,389 $2,904 $10,494
2015 $68,985 $102,546 $1,988 $9,922
2016 $61,254 $89,935 $2,047 $10,865
2017 $63,280 $99,358 $2,467 $11,536
2018 $71,040 $110,033 $2,895 $12,555
2019 $66,841 $107,502 $3,423 $14,217
2020 $51,684 $82,149 $3,505 $15,541
2021 $71,752 $116,833 $4,510 $17,846
2022 $88,701 $122,920 $3,946 $14,770
2023 $80,196 $128,919 $4,803 $17,665
2024 $76,276 $126,110 $5,038 $18,550

Spending and national debt comparison

In 2024, Qatar's government spending was $56.2B, accounting for 26.5% of its GDP, while Ukraine's spent $136B, or 58% of GDP.

Debt-to-GDP ratio is 40.5% in Qatar and 110% in Ukraine, ranking 133/185 and 15/185, respectively.

Qatar
Government spending

Government debt
Ukraine
Government spending

Government debt
Year % of GDP
Qatar Ukraine
Government spending Government debt Government spending Government debt
1990 50% 12.6% - -
1991 57.5% 21.8% - -
1992 54.2% 19.9% - -
1993 62.8% 46.3% - -
1994 59.8% 54.8% - -
1995 52.2% 50.2% 41.3% 30.2%
1996 55.2% 57.8% 36.9% 24.4%
1997 47.6% 54.4% 40.8% 28.9%
1998 55.1% 76.6% 37.1% 46.5%
1999 42.4% 81.8% 25.8% 59%
2000 29.8% 51.6% 35.5% 43.8%
2001 32.1% 59.2% 36.7% 36.7%
2002 31.6% 47.7% 37.9% 33.6%
2003 28.5% 38.8% 38.9% 29.4%
2004 29.9% 30.1% 41.6% 24.8%
2005 29% 19.1% 44.2% 17.7%
2006 29.5% 13.9% 44.6% 14.8%
2007 29.5% 9.37% 43.7% 12.3%
2008 23.5% 11.4% 47.1% 20.4%
2009 36.4% 36% 48.6% 35.4%
2010 32% 30.4% 49.2% 40.6%
2011 28.5% 33.5% 45.7% 36.9%
2012 31% 32.1% 49% 37.5%
2013 28.3% 30.9% 48.1% 40.5%
2014 32.3% 24.9% 44.8% 70.3%
2015 38.6% 35.5% 43% 79.3%
2016 40.1% 46.7% 40.8% 79.5%
2017 34.7% 51.6% 41.7% 71.6%
2018 28.9% 52.2% 41.9% 60.4%
2019 32.5% 62.1% 41.5% 50.5%
2020 34.7% 72.6% 45.6% 60.5%
2021 29.4% 58.4% 40.5% 48.9%
2022 24.3% 42.6% 65.4% 77.7%
2023 27.3% 43.7% 74.4% 82.3%
2024 25.8% 40.8% 71.4% 89.8%
2025 26.5% 40.5% 58% 110%

Government deficit by year

In 2024, Qatar's government surplus, the difference between spending and revenue, was $1.52B, equivalent to 0.7% of GDP. This compares to Ukraine's deficit of -$32.9B, or -17.2% of GDP.

Over the past 30 years, Qatar recorded a fiscal deficit in 8 of those years, while Ukraine ran a deficit in 29 years. On average, Qatar posted an annual surplus equal to +4.32% of GDP, compared to deficit of -4.46% of GDP for Ukraine.

Deficit/surplus
Qatar

Ukraine
Year Deficit/surplus, % of GDP
Qatar Ukraine
1990 3.23% -
1991 -2.57% -
1992 -2.74% -
1993 -9.53% -
1994 -11.8% -
1995 -5.78% -4.72%
1996 -8.73% -3.09%
1997 -9.4% -5.37%
1998 -7% -2.69%
1999 -4.35% 4.95%
2000 4.62% -3.19%
2001 4.48% -3.03%
2002 7.89% -1.84%
2003 6.71% -0.89%
2004 17.7% -4.41%
2005 9.8% -2.28%
2006 8.39% -1.36%
2007 10.3% -1.97%
2008 9.49% -3.14%
2009 14.1% -6.27%
2010 4.6% -5.77%
2011 5.24% -2.76%
2012 8.55% -4.31%
2013 19.3% -4.78%
2014 13.4% -4.46%
2015 18.4% -1.16%
2016 -9.2% -2.46%
2017 -6.82% -2.36%
2018 2.26% -2.12%
2019 1% -2.08%
2020 -2.13% -5.92%
2021 0.24% -3.97%
2022 10.4% -15.6%
2023 5.48% -19.6%
2024 0.7% -17.2%
2025 0.04% -18.8%

Inflation comparison by year

Over the past 30 years, Qatar has recorded an average annual inflation rate of 3.11%, compared with 15% in Ukraine. In 2025, inflation was 0.1% in Qatar and 12.6% in Ukraine.

Inflation
Qatar

Ukraine
Year Inflation
Qatar Ukraine Qatar Ukraine
1996 7% 80.2%
1997 2.7% 15.9%
1998 2.9% 10.6%
1999 2.2% 22.7%
2000 1.6% 28.2%
2001 1.7% 12%
2002 0.2% 0.8%
2003 2.3% 5.2%
2004 6.8% 9%
2005 9% 13.5%
2006 11.7% 9.1%
2007 13.7% 12.8%
2008 15.1% 25.2%
2009 -4.9% 15.9%
2010 -2.4% 9.4%
2011 2% 8%
2012 1.8% 0.6%
2013 3.1% -0.3%
2014 4.2% 12.1%
2015 0.9% 48.7%
2016 2.7% 13.9%
2017 0.6% 14.4%
2018 0.1% 10.9%
2019 -0.9% 7.9%
2020 -2.5% 2.7%
2021 2.3% 9.4%
2022 5% 20.2%
2023 3.1% 12.9%
2024 1.2% 6.5%
2025 0.1% 12.6%

Top exports between countries

Qatar
Export category Export value
Machinery & equipment $732K
Chemicals & pharma $316K
Metals $58K
Textiles & consumer goods $17K
Ukraine
Export category Export value
Metals $81.5M
Miscellaneous $25.3M
Processed food, beverages & tobacco $11.4M
Raw agricultural goods $10M
Animal & marine products $4.42M
Textiles & consumer goods $486K
Machinery & equipment $431K
Chemicals & pharma $387K
Wood & paper products $46K
Raw materials & minerals $45K

Balance of trade

Qatar Ukraine
Current account balance
$37.9B
2024
-$15.9B
2024
Current account balance ranking
15/189
2024
179/189
2024
Current account balance, % of GDP
+17.4%
2024
-8.35%
2024
Goods imports
$32.6B
2024
$72.7B
2024
Goods exports
$95B
2024
$38.9B
2024
Service imports
$37.1B
2024
$22.8B
2024
Service exports
$30.2B
2024
$17.2B
2024
Imports of goods and services, % of GDP
31.6%
2022
48.3%
2024
Exports of goods and services, % of GDP
68.6%
2022
29.4%
2024

Economic freedom indices

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

Qatar Ukraine
Economic freedom 70.2 54.1
Economic freedom ranking 33/197 138/197
Property rights 71.1 21.5
Government integrity 52.6 35.4
Judicial effectiveness 42.3 29.9
Tax burden 99.9 89.1
Government spending 78.1 44.5
Fiscal health 96.2 73.6
Business freedom 67.9 61.1
Labor freedom 59.3 60.7
Monetary freedom 73.2 71.2
Trade freedom 81.6 73.2
Investment freedom 60 35
Financial freedom 60 30

Economic freedom by year comparison

The Economic Freedom Index for Qatar is 70.2, ranking 33/197, compared to 54.1 for Ukraine, ranking 138/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Qatar
Ukraine
Year Economic freedom index
Qatar Ukraine
1995 - 39.9
1996 - 40.6
1997 - 43.5
1998 - 40.4
1999 62 43.7
2000 62 47.8
2001 60 48.5
2002 61.9 48.2
2003 65.9 51.1
2004 66.5 53.7
2005 63.5 55.8
2006 62.4 54.4
2007 62.9 51.5
2008 62.2 51
2009 65.8 48.8
2010 69 46.4
2011 70.5 45.8
2012 71.3 46.1
2013 71.3 46.3
2014 71.2 49.3
2015 70.8 46.9
2016 70.7 46.8
2017 73.1 48.1
2018 72.6 51.9
2019 72.6 52.3
2020 72.3 54.9
2021 72 56.2
2022 67.7 54.1
2023 68.6 -
2024 68.8 -
2025 70.2 -

More economic indicators

Qatar Ukraine
Services, % of GDP
45.9%
2024
60.6%
2024
Industry, % of GDP
58.5%
2024
19%
2024
Agriculture, forestry, and fishing, % of GDP
0.29%
2024
7.11%
2024
GNI, Atlas method
$219B
2024
$185B
2024
GNI per capita, PPP
$121,930
2024
$18,580
2024
Total reserves including gold
$54B
2024
$43.8B
2024
Total reserves ranking
40/177
2024
46/177
2024
Net foreign direct investment
$1.1B
2024
-$3.71B
2024
Net inflows of foreign direct investment
$460M
2024
$4.02B
2024
Net outflows of foreign direct investment
$1.56B
2024
$305M
2024
Servicing debt to the IMF, % of GNI
n/a
4.2%
2023
Poverty at national poverty lines n/a
23.2%
2020
Gross capital formation, % of GDP
30.6%
2022
18.6%
2024

GDP per capita map

GDP per capita

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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.