Qatar was the fastest growing economy in the world according to real GDP Growth Rate statistics for 2010. Since 2008, Qatar has consistently ranked among the top three nations for real GDP Growth, with 19.40 percent growth in 2010 ahead of Singapore and Turkmenistan. Analysts believe Qatar will continue to grow exponentially over the next few years owing to rising oil and natural gas prices.
Friendly to Iran even as it serves as a base for the American military, Qatar has long had one of the most creative foreign policies in this unstable region.
But now, by sending its tiny air force to fly missions over Libya and granting other critical aid to the Libyan rebels in their fight for freedom and democracy,
this very rich Persian Gulf emirate is playing a more ambitious and potentially more risky role.
But for an absolute monarchy that was part of an alliance
In 2010, Qatar was the fastest growing economy in the world – ahead of Singapore and Turkmenistan, with a real GDP growth rate of 19.40 percent. Since 2008, Qatar has been consistently ranked among the top three fastest growing economies in the world. Analysts believe Qatar will continue its double-digit growth trend for the next few years on the back of rising oil and natural gas prices.
Qatar’s oil and natural gas industries account for 50 percent of GDP, 85 percent of export earnings and 70 percent of the government’s revenue.
As is the case for Qatar’s Middle Eastern neighbours, oil and natural gas are crucial components of it’s trade revenues. Eighty-five percent of Qatar’s export earnings are derived from these industries and reinvested into imports such as food and machinery to sustain Qatar’s rapidly growing economy. High oil prices in particular, ensures Qatar operates with a trade surplus.
Despite its small physical size, Qatar puts up some big numbers.
It has the second highest per capita gross domestic product in the world, and the third largest proven reserves of natural gas.
But it also ranks high in some less enviable categories,
