Macro-economic Trend
Qatar is now the richest country in the Muslim world. Current GDP per capita registered a world record-breaking peak growth of 1,156% in the Seventies. This became quickly unsustainable and Qatar's current GDP per capita contracted 53% in the Eighties. But rising global oil demand helped current GDP per capita to expand 94% in the Nineties. Diversification is still a long-term issue for this over-exposed economy.
This is a table of gross domestic product of Qatar at market prices estimated by the International Monetary Fund with figures in millions of Qatari Rials.
| Year | Gross Domestic Product | US Dollar Exchange | Inflation Index (2000=100) |
Per Capita Income (as % of USA) |
|---|---|---|---|---|
| 1980 | 28,631 | 3.65 Qatari Rials | 53 | 266.18 |
| 1985 | 22,829 | 3.63 Qatari Rials | 64 | 104.82 |
| 1990 | 26,792 | 3.64 Qatari Rials | 77 | 67.85 |
| 1995 | 29,622 | 3.63 Qatari Rials | 85 | 55.75 |
| 2000 | 64,646 | 3.63 Qatari Rials | 100 | 86.03 |
| 2005 | 137,783 | 3.64 Qatari Rials | 115 | 127.05 |
For purchasing power parity comparisons, the US Dollar is exchanged at 5.82 Qatari Rials only. Mean wages were $59.99 per manhour in 2009.
In February 2012, the International Bank of Qatar reported that GDP grew by 19.9% in 2011, but estimated that 2012 growth would slow to 9.8%
Read more about this topic: Economy Of Qatar