Qatar - Economic sectors

Qatar's economic sectors reflect the small size of the country. Qatar relies heavily on the oil sector, exporting some 650,000 barrels a day, mostly to Europe and eastern Asia. The services sector is the country's second-largest economic sector and most important non-oil sector. According to the CIA World Factbook for 2001, the sector's contribution to GDP reached 50 percent in 1996. The industrial sector is also an important contributor to the economy, accounting for 49 percent of GDP in 1996. This sector is dominated by the oil industry, which accounts for a little over 40 percent of GDP. The non-oil manufacturing sector, on the other hand, accounts for only 8.8 percent, according to the EIU. Agriculture is an insignificant contributor to the economy, accounting for roughly 1 percent of GDP.

One of the greatest problems facing all of Qatar's economic sectors is the dependence on oil revenue and the adverse impact of the fluctuation of oil prices on the country's investment climate and fiscal deficit. Lower oil prices generally mean lower revenue for the government. Reduced government revenues in turn translate into lower government spending on economic projects, a situation that brings about an overall slowdown in the economy.

Recognizing these obstacles, Qatar has moved to diversify its sources of income by developing its liquefied natural gas (LNG) industry and expanding its industrial base. Qatar's efforts to diversify its economic base have not been very successful. Most economic activity continues to be centered on oil. Qatar has 2 natural gas plants that have been in existence since 1980. With the help of international oil companies, Qatar launched 2 LNG projects in 1992, the North Field development at Ras Laffan

city. The first phase of the project was completed in 1992, and the second project is scheduled to start in 2001. According to the EIU Country Profile for 2000, once completed, the North Field will be "the largest single concentration of natural gas" in the world. The government invested some US$20 billion in the development of the North Field between 1995 and 2000. However, it is not expected to make a profit from these projects until its debts to the companies that financed the exploration projects are paid. Therefore, Qatar's dependence on oil is likely to continue.

Also read article about Qatar from Wikipedia

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May 26, 2011 @ 3:15 pm
Sir like this article but my question is that how can i get visa to QATAR as student or as worker.
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Jul 31, 2011 @ 4:04 am
I want to know the percentage of workers in the primary, secondary and tertiary sectors in Qatar.

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