Qatar Background and Facts

12/18/2007 03:12 p.m.

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Background: Ruled by the al-Thani family since the mid-1800s, Qatar transformed itself from a poor British protectorate noted mainly for pearling into an independent state with significant oil and natural gas revenues. During the late 1980s and early 1990s, the Qatari economy was crippled by a continuous siphoning off of petroleum revenues by the amir, who had ruled the country since 1972. His son, the current Amir HAMAD bin Khalifa al-Thani, overthrew him in a bloodless coup in 1995. In 2001, Qatar resolved its longstanding border disputes with both Bahrain and Saudi Arabia. Oil and natural gas revenues enable Qatar to have one of the highest per capita incomes in the world.

Location: Middle East, peninsula bordering the Persian Gulf and Saudi Arabia

Map:

Area: slightly smaller than Connecticut

Climate: arid; mild, pleasant winters; very hot, humid summers

Ethnic Groups: Arab 40%, Indian 18%, Pakistani 18%, Iranian 10%, other 14%

Religions: Muslim 77.5%, Christian 8.5%, other 14% (2004 census)

Languages: Arabic (official), English commonly used as a second language

Economy: Oil and gas account for more than 60% of GDP, roughly 85% of export earnings, and 70% of government revenues. Oil and gas have made Qatar one of the world's faster growing and higher per-capita income countries - in 2006 per-capita income equaled that of the EU. Sustained high oil prices and increased natural gas exports in recent years have helped build Qatar's budget and trade surpluses and foreign reserves. Proved oil reserves of more than 15 billion barrels should ensure continued output at current levels for 23 years. Qatar's proved reserves of natural gas exceed 25 trillion cubic meters, more than 5% of the world total and third largest in the world. Qatar has permitted substantial foreign investment in the development of its gas fields during the last decade and is expected to become the world's top liquefied natural gas (LNG) exporter in 2007. Qatar is also trying to attract foreign investment in the development of its non-energy projects by further liberalizing the economy.

Currency: Qatari rial (QAR)

Tags: country background and facts, qatar

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