Qatar: Country and Foreign Investment
Economy and Currency
The economy is largely centered on Qatar’s gas and oil reserves, with oil production accounting for around two-thirds of total government revenues; Qatar’s proven gas reserves are the world’s third largest. Liquefied natural gas (LNG) exports exceed 31m tonnes per year.
Non-oil and gas sectors include finance, insurance, real estate, building and construction, tourism, and transport and communications. The Qatar Investment Promotion Department states that these sectors contributed 43.5% of total GDP in 2007.Per capita GDP is among the world’s highest, at US$102,200 in 2012. In 2010 GDP grew quickly along with oil prices, and with Qatar expanding investments in the gas sector it grew further in the following year. In 2012 GDP growth slowed to 6%, due to completion of the expansion program. The currency is the Qatari Riyal (QAR), which is made up of 100 Dirham and is pegged with the US Dollar at US$1 = QAR3.64.