Qatar economy is one of the most developing economies among the countries in the Middle East. Most of the economic activities in Qatar are dependent on the oil and petroleum industry in the country. The country earns maximum foreign revenue and exchange from this developed hydrocarbon industry. With the invention and exploration of expansive oil-fields in the country, Qatar has become one of the leading exporters of crude petroleum and natural gas to several countries in the world. Apart from the petroleum industry, there are many other light and heavy weight industries in Qatar too, that cater to the industrial requirements of the country.
Qatar economy has shown trends of rapid globalization. With developing economic activities, per capita income of the people has increased considerably, improving the living standard in the country.
Fishing and agriculture are also a major economic activity in Qatar, but unfortunately, they contribute minimum to the Gross Domestic Product of the country. Due to the scarcity of arable land and water in Qatar, most of the food products have to be imported from other countries. Fishing is also an important activity in the Persian Gulf area.
Workforce in Qatar mainly consists of foreigners. With the advancement of the country socially and culturally, many Qatari people are also employed in various jobs in the country. Five year plans in the country has streamlined the economic activities of the country. The service sector of Qatar including the administrative and defense services, also contribute to the
GDP of Qatar. Tourism is another important activity that enhances economic growth of Qatar.
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