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Economy of Qatar vs Vietnam compared: GDP & Debt

Updated on by Georank team

Qatar has a GDP of $219B compared to $476B for Vietnam, ranking 56/197 and 33/197 by economy size, respectively.

Qatar has $90.2B in government debt (41.2% of GDP), compared to $149B (31.3% of GDP) in Vietnam.

Qatar vs Vietnam GDP by year

Qatar
Vietnam
1x
Year GDP, current $
Qatar Vietnam
2024 $219,162,637,363 $476,388,230,307
2023 $217,308,516,484 $433,857,681,378
2022 $235,709,340,659 $413,445,230,669
2021 $179,732,142,857 $366,474,752,771
2020 $144,411,538,462 $346,615,738,538
2019 $176,371,428,571 $334,365,270,497
2018 $183,335,164,835 $310,106,478,395
2017 $161,099,175,824 $281,353,605,987
2016 $151,732,142,857 $257,096,001,178
2015 $161,739,835,165 $239,258,328,382
2014 $206,224,725,275 $233,451,469,643
2013 $198,727,747,253 $213,708,811,665
2012 $186,833,516,484 $195,590,661,129
2011 $167,775,274,725 $172,595,049,184
2010 $123,627,197,802 $147,201,173,197
2009 $97,798,351,648 $106,014,659,565
2008 $115,270,054,945 $99,130,304,099
2007 $79,712,087,912 $77,414,425,532
2006 $60,882,142,857 $66,371,664,817
2005 $44,530,494,505 $57,633,255,738
2004 $31,734,065,934 $45,427,854,693
2003 $23,533,791,209 $39,552,513,232
2002 $19,363,736,264 $35,064,105,501
2001 $17,538,461,538 $32,685,198,809
2000 $17,759,890,110 $31,172,518,403
1999 $12,393,131,868 $28,683,659,007
1998 $10,255,495,027 $27,209,602,050
1997 $11,297,802,115 $26,843,700,442
1996 $9,059,340,385 $24,657,470,575
1995 $8,137,911,978 $20,736,164,459
1994 $7,374,450,769 $16,286,433,533
1993 $7,156,593,654 $13,180,953,598
1992 $7,646,153,984 $9,866,990,236
1991 $6,883,516,484 $9,613,369,520
1990 $7,360,439,423 $6,471,740,806
1989 $6,487,912,088 $6,293,304,975
1988 $6,038,187,033 $25,423,812,649
1987 $5,446,428,681 $36,658,108,850
1986 $5,053,021,951 $26,336,616,250
1985 $6,153,296,456 $14,094,687,821
1984 $6,704,395,824 -
1983 $6,467,582,308 -
1982 $7,596,703,214 -
1981 $8,661,263,764 -
1980 $7,829,165,262 -
1979 $5,632,962,997 -
1978 $4,052,000,413 -
1977 $3,617,564,638 -
1976 $3,284,273,987 -
1975 $2,512,773,166 -
1974 $2,401,403,227 -
1973 $793,885,560 -
1972 $510,262,500 -
1971 $387,703,106 -
1970 $301,791,302 -

Data sources: World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06).

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

GDP per capita in Qatar vs Vietnam by year

Qatar
GDP per capita

GDP per capita, PPP
Vietnam
GDP per capita

GDP per capita, PPP
1x
Year Current $
Qatar Vietnam
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $76,689 $126,046 $4,717 $16,386
2023 $81,817 $129,368 $4,323 $15,034
2022 $88,701 $122,921 $4,148 $13,905
2021 $71,752 $116,833 $3,704 $12,049
2020 $51,684 $82,149 $3,534 $11,609
2019 $66,841 $107,503 $3,441 $11,029
2018 $71,040 $110,033 $3,222 $10,010
2017 $63,280 $99,358 $2,956 $9,170
2016 $61,254 $89,935 $2,735 $8,375
2015 $68,985 $102,546 $2,578 $7,672
2014 $95,841 $148,389 $2,546 $7,297
2013 $103,697 $169,203 $2,360 $6,758
2012 $108,470 $180,939 $2,185 $6,377
2011 $103,262 $174,620 $1,951 $5,786
2010 $76,463 $151,646 $1,683 $5,389
2009 $60,786 $125,898 $1,226 $5,061
2008 $80,781 $126,015 $1,164 $4,844
2007 $65,954 $124,056 $926 $4,581
2006 $62,582 $127,181 $808 $4,237
2005 $53,950 $115,250 $711 $3,894
2004 $41,036 $110,958 $565 $3,543
2003 $31,602 $94,120 $497 $3,240
2002 $27,227 $93,177 $445 $3,002
2001 $25,871 $89,805 $419 $2,809
2000 $27,535 $88,849 $404 $2,614
1999 $20,234 $84,690 $376 $2,421
1998 $17,665 $84,486 $361 $2,308
1997 $20,523 $79,219 $362 $2,189
1996 $17,125 $62,331 $337 $2,019
1995 $15,823 $60,321 $287.8 $1,841
1994 $14,765 $59,415 $229.9 $1,674
1993 $14,770 $59,125 $189.4 $1,534
1992 $16,280 $60,387 $144.5 $1,413
1991 $15,133 $54,759 $143.7 $1,298
1990 $16,722 $55,659 $98.8 $1,210
1989 $15,243 - $98.1 -
1988 $14,682 - $405 -
1987 $13,719 - $595 -
1986 $13,213 - $436 -
1985 $16,815 - $238.6 -
1984 $19,272 - - -
1983 $19,616 - - -
1982 $24,385 - - -
1981 $29,505 - - -
1980 $28,375 - - -
1979 $21,777 - - -
1978 $16,757 - - -
1977 $16,058 - - -
1976 $15,710 - - -
1975 $13,014 - - -
1974 $13,540 - - -
1973 $4,905 - - -
1972 $3,483 - - -
1971 $2,952 - - -
1970 $2,594 - - -

Data sources: World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06).

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

Qatar's GDP per capita is $76,689, ranking 11/197, compared to $4,717 in Vietnam, ranking 122/197. Adjusted for purchasing power (GDP per capita PPP), Qatar ranks 5th at $126,046, while Vietnam ranks 108th at $16,386.

Economic indicators

Qatar Vietnam
Gross domestic product
$219B
2024
$476B
2024
GDP rank
56/197
2024
33/197
2024
GDP growth
2.36%
2023-2024
7.09%
2023-2024
GDP per capita
$76,689
2024
$4,717
2024
GDP per capita rank
11/197
2024
122/197
2024
GDP per capita, PPP
$126,046
2024
$16,386
2024
GDP per capita PPP rank
5/197
2024
108/197
2024
Government debt
$90.2B
2024
$149B
2024
Debt-to-GDP ratio
41.2%
2024
31.3%
2024
Government debt per person
$31,579
2024
$1,475
2024
Government debt per person rank
23/185
2024
132/185
2024
Average annual personal income after taxes
$35,660
2026
$4,020
2026
Market capitalization of domestic companies
$170M
2024
$205B
2024
Number of millionaires
26,163
2025
n/a
Number of billionaires
2
2025
5
2025
Income share by richest 10%
25.8%
2017
28.1%
2022
Income share by poorest 10%
2.6%
2017
2.6%
2022
Government expenditure, % of GDP
26%
2024
19.1%
2024
Consumer prices inflation
1.27%
2023-2024
3.6%
2023-2024
Central bank interest rate
4.1%
2025
4.5%
2023
Unemployment rate
0.13%
2022
1.53%
2024
Population
2999260
102365351

Spending and national debt comparison by year

Qatar
Spending

Debt
Vietnam
Spending

Debt
1x
Year % of GDP
Qatar Vietnam
Government spending Government debt Government spending Government debt
2024 26% 41.2% 19.1% 31.3%
2023 27.3% 43.7% 18.8% 34.3%
2022 24.3% 42.6% 18.2% 34.9%
2021 29.4% 58.4% 20.1% 39.2%
2020 34.7% 72.6% 21.3% 41.3%
2019 32.5% 62.1% 19.8% 41%
2018 28.9% 52.2% 20.5% 43.8%
2017 34.7% 51.6% 21.5% 46.6%
2016 40.1% 46.7% 22.2% 47.9%
2015 38.6% 35.5% 24.2% 46.1%
2014 32.3% 24.9% 22.8% 43.6%
2013 28.3% 30.9% 24.5% 41.4%
2012 31% 32.1% 23.5% 38.3%
2011 28.5% 33.5% 21.2% 36.2%
2010 32% 30.4% 23.7% 37.3%
2009 36.4% 36% 25% 36.2%
2008 23.5% 11.4% 21.4% 31%
2007 29.5% 9.37% 22.3% 32.2%
2006 29.5% 13.9% 20.5% 30.2%
2005 29% 19.1% 20.6% 28.7%
2004 29.9% 30.1% 19.4% 29.4%
2003 28.5% 38.8% 22.2% 29.8%
2002 31.6% 47.7% 19.7% 27.7%
2001 32.1% 59.2% 19.2% 25.4%
2000 29.8% 51.6% 17.8% 24.8%
1999 42.4% 81.8% 16.7% -
1998 55.1% 76.6% 16% -
1997 47.6% 54.4% - -
1996 55.2% 57.8% - -
1995 52.2% 50.2% - -
1994 59.8% 54.8% - -
1993 62.8% 46.3% - -
1992 54.2% 19.9% - -
1991 57.5% 21.8% - -
1990 50% 12.6% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

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

In 2024, Qatar's government spending was $56.9B, accounting for 26% of its GDP, while Vietnam spent $91.1B, or 19.1% of GDP.

Debt-to-GDP ratio is 41.2% in Qatar and 31.3% in Vietnam, ranking 130/185 and 156/185, respectively.

Government deficit by year

Deficit/surplus
Qatar

Vietnam
1x
Year Deficit/surplus, % of GDP
Qatar Vietnam
2024 0.69% -1.54%
2023 5.56% -1.72%
2022 10.4% 0.67%
2021 0.24% -1.43%
2020 -2.13% -2.86%
2019 1% -0.4%
2018 2.26% -1.02%
2017 -6.82% -1.96%
2016 -9.2% -3.16%
2015 18.4% -4.98%
2014 13.4% -5.02%
2013 19.3% -5.96%
2012 8.55% -5.46%
2011 5.24% -0.9%
2010 4.6% -2.25%
2009 14.1% -4.82%
2008 9.49% -0.45%
2007 10.3% -1.74%
2006 8.39% 0.2%
2005 9.8% -0.95%
2004 17.7% -0.15%
2003 6.71% -2.56%
2002 7.89% -1.85%
2001 4.48% -2.19%
2000 4.62% -1.61%
1999 -4.35% -1.25%
1998 -7% -0.1%
1997 -9.4% -
1996 -8.73% -
1995 -5.78% -
1994 -11.8% -
1993 -9.53% -
1992 -2.74% -
1991 -2.57% -
1990 3.23% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/qatar/vietnam | 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 Vietnam's deficit of $7.32B, or 1.54% of GDP.

Over the past 27 years, Qatar recorded a fiscal deficit in 5 of those years, while Vietnam ran a deficit in 25 years. On average, Qatar posted an annual surplus equal to 5.69% of GDP, compared to deficit of 2.05% of GDP for Vietnam.

Inflation comparison by year

Inflation
Qatar

Vietnam
1x
Year Consumer prices inflation
Qatar Vietnam
2024 1.27% 3.6%
2023 3.03% 3.3%
2022 5% 3.2%
2021 2.3% 1.8%
2020 -2.54% 3.2%
2019 -0.67% 2.8%
2018 0.26% 3.5%
2017 0.39% 3.5%
2016 2.68% 2.7%
2015 1.81% 0.6%
2014 3.35% 4.1%
2013 3.22% 6.6%
2012 2.32% 9.1%
2011 1.14% 18.7%
2010 -2.43% 9.1%
2009 -4.86% 6.7%
2008 15.1% 23.3%
2007 13.8% 8.4%
2006 11.8% 7.7%
2005 8.81% 8.3%
2004 6.8% 7.8%
2003 2.26% 3.1%
2002 0.24% 3.8%
2001 1.47% -0.4%
2000 1.65% -1.8%
1999 2.18% 4.1%
1998 2.95% 8.1%
1997 4.83% 3.1%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, Qatar has recorded an average annual inflation rate of 3.15%, compared with 5.64% in Vietnam. In 2024, inflation was 1.27% in Qatar and 3.6% in Vietnam.

Top exports between countries

Qatar
Export category Export value
Metals $83.2M
Raw materials & minerals $82.8M
Chemicals & pharma $82.2M
Machinery & equipment $5.09M
Textiles & consumer goods $184K
Animal & marine products $54K
Raw agricultural goods $32K
Wood & paper products $23K
Vietnam
Export category Export value
Machinery & equipment $123M
Metals $33.2M
Textiles & consumer goods $10.6M
Raw agricultural goods $10.5M
Animal & marine products $10.4M
Processed food, beverages & tobacco $8.31M
Chemicals & pharma $7.95M
Raw materials & minerals $6.98M
Wood & paper products $1.8M
Miscellaneous $141K

Balance of trade

Qatar Vietnam
Current account balance
$37.9B
2024
$28B
2024
Current account balance ranking
16/190
2024
18/190
2024
Current account balance, % of GDP
+17.3%
2024
+5.89%
2024
Goods imports
$32.6B
2024
$362B
2024
Goods exports
$95B
2024
$406B
2024
Service imports
$37.1B
2024
$36.2B
2024
Service exports
$30.2B
2024
$23.9B
2024
Imports of goods and services, % of GDP
31.6%
2022
83.7%
2024
Exports of goods and services, % of GDP
68.6%
2022
90.2%
2024

Economic freedom indices

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

Qatar Vietnam
Economic freedom 70.2 64.4
Economic freedom ranking 37/197 73/197
Property rights 66.2 47.3
Government integrity 53.5 39.2
Judicial effectiveness 41.5 31.3
Tax burden 99.9 80.9
Government spending 79.9 89.5
Fiscal health 96.6 96.9
Business freedom 68 70
Labor freedom 58.5 54.7
Monetary freedom 76 73.2
Trade freedom 81.8 79.8
Investment freedom 60 60
Financial freedom 60 50

Economic freedom comparison by year

Qatar
Vietnam
1x
Year Economic freedom index
Qatar Vietnam
2026 70.2 64.4
2025 70.2 65.2
2024 68.8 62.8
2023 68.6 61.8
2022 67.7 60.6
2021 72 61.7
2020 72.3 58.8
2019 72.6 55.3
2018 72.6 53.1
2017 73.1 52.4
2016 70.7 54
2015 70.8 51.7
2014 71.2 50.8
2013 71.3 51
2012 71.3 51.3
2011 70.5 51.6
2010 69 49.8
2009 65.8 51
2008 62.2 50.4
2007 62.9 49.8
2006 62.4 50.5
2005 63.5 48.1
2004 66.5 46.1
2003 65.9 46.2
2002 61.9 45.6
2001 60 44.3
2000 62 43.7
1999 62 42.7
1998 - 40.4
1997 - 38.6
1996 - 40.2
1995 - 41.7

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

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

The Economic Freedom Index for Qatar is 70.2, ranking 37/197, compared to 64.4 for Vietnam, ranking 73/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Qatar Vietnam
Services, % of GDP
46.1%
2024
42.4%
2024
Industry, % of GDP
58.2%
2024
37.6%
2024
Agriculture, forestry, and fishing, % of GDP
0.29%
2024
11.9%
2024
GNI, Atlas method
$221B
2024
$454B
2024
GNI per capita, PPP
$121,900
2024
$15,850
2024
Total reserves including gold
$54B
2024
$83.1B
2024
Total reserves ranking
40/177
2024
30/177
2024
Net foreign direct investment
$1.1B
2024
-$19.6B
2024
Net inflows of foreign direct investment
$460M
2024
$20.2B
2024
Net outflows of foreign direct investment
$1.56B
2024
$600M
2024
Servicing debt to the IMF, % of GNI n/a
7.29%
2024
Poverty at national poverty lines n/a
4.2%
2022
Gross capital formation, % of GDP
30.6%
2022
30.6%
2024

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/vietnam | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2020–2023, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

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.