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Economy of Qatar
Petroleum and liquefied natural gas are the cornerstones of Qatar's economy and account for more than 70% of total government revenue, more than 60% of gross domestic product, and roughly 85% of export earnings. Proved oil reserves of 15 billion barrels (588,000,000 m3) should ensure continued output at current levels for 23 years. Oil has given Qatar a per capita GDP that ranks among the highest in the world. Qatar's proved reserves of natural gas exceed 7000km3, more than 5% of the world total and the third-largest reserves of any country in the world. Production and export of natural gas are becoming increasingly important. Long-term goals include the development of off-shore petroleum and the diversification of the economy.
Qatar is now the richest country in the world. Current GDP per capita registered a world record-breaking peak growth of 1,156% in the 70s. This became quickly unsustainable and Qatar's current GDP per capita contracted 53% in the 80s. But rising global oil demand helped current GDP per capita to expand 94% in the 90s. Diversification is still a long-term issue for this over-exposed economy.
Qatar (/ˈkæˌtɑːr/,i/ˈkɑːtɑːr/, /ˈkɑːtər/ or i/kəˈtɑːr/;Arabic:قطرQaṭar[ˈqɑtˤɑr]; local vernacular pronunciation: [ɡɪtˤɑr]), officially the State of Qatar (Arabic:دولة قطرDawlat Qaṭar), is a sovereigncountry located in Southwest Asia, occupying the small Qatar Peninsula on the northeastern coast of the Arabian Peninsula. Its sole land border is with Saudi Arabia to the south, with the rest of its territory surrounded by the Persian Gulf. A strait in the Persian Gulf separates Qatar from the nearby island of Bahrain, as well as sharing sea borders with the United Arab Emirates and Iran.
A television viewing audience of 484 million in 80 countries across the Asia-Pacific region, Europe, North America and North Africa witnessed Japan defeat Australia 1–0 in the final.
Qatar, India and Iran all lodged interest in hosting the 2011 AFC Asian Cup, while Australia also considered making a late bid. Qatar officially submitted their bid on 19 June 2006, while India withdrew their interest and Iran failed to submit proper documentation for their bid on time.
Qatar was announced as host nation on 29 July 2007, during the 2007 AFC Asian Cup in Jakarta, Indonesia. Due to FIFA regulations stating that confederation events can be hosted either in January or July, and July being peak summer heat in the Middle East, it was also announced that the tournament would be held in January of that year.
As Qatar is transitioning to becoming a knowledge-driven economy, it is gradually building a scientific community that is self-sustaining ... Al Kuwari, DataAnalyst, at QF RDI's Qatar Genome Programme (QGP) ... 'QF's vision is to secure Qatar's future in the global marketplace by building a knowledge-based economy, rooted in our cultural heritage.
... according to the state-run QatarNewsAgency ... The proposal is “another milestone on the path to liberalising the economy, with Qatar setting the foreign ownership standard for the region,” said Akber Khan, senior director of asset management at Al Rayan Investment in Doha.
Qatar's main index dropped 0.6 per cent with 16 of its 20 stocks ending lower. The gauge is trading just fractionally up for the year in the absence of big cues to shore up the economy and private sector as is the case with other major GCC countries. However, Qatar National Bank...
... growth, takes credit for increasing remittances, terming it a positive sign for the otherwise tottering economy ... Huge amounts of remittances sent by expatriates in Saudi Arabia, the UAE, Qatar, Kuwait, and other Gulf states have a significant impact on the country’s economy.
However, the COVID resurgence’s unpredictability in major economies lagging in vaccination programs could spoil the OPEC+ forecasts and supply management policies once again ... The global economy and the coronavirus ... For Pakistan, the new Qatar supply deal is a real boon for the economy.
Third, economies that are heavily reliant on contact intensive sectors, especially tourism, will recover more slowly ...And then on all economy in UAE ... Going forward, what would help the Qatar economy recover, is of course, the development on two fronts; with acceleration of vaccination, improvement of I would say, sanitary situation.
The InternationalMonetary Fund expects most Gulf economies to recover this year at a faster pace than previously estimated, as it raised its 2021 global growth forecast to 6 percent from 5.5 percent less than three months ago ...Qatar’s economy is estimated to grow 2.4 percent, just below the previous 2.5 percent estimate.
DUBAI (Reuters) – The InternationalMonetary Fund expects most Gulf economies to recover this year at a faster pace than previously estimated, as it raised its 2021 global growth forecast to 6% from 5.5% less than three months ago ...Qatar’s economy is estimated to grow 2.4%, just below the previous 2.5% estimate.
After a brief storage period in Doha, Qatar, it joined Luke Air ... Air Italy’s last four A330s returned to Qatar Airways, only to be placed into storage at the end of last year ... The remaining four A330s, which featured a two-class, 260-seat configuration (24 business and 236 economy), returned to Qatar Airways.