https://www.confiduss.com/en/jurisdictions/qatar/economy/ - Economy of Qatar

Qatar is considered a developing country. A nation's level of development is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality and quality of life. As a developing country, Qatar may not be able to provide consistent social services to its citizens. These social services can include things like public education, reliable health care, and law enforcement. Citizens of developing countries may have a lower life expectancy than citizens of developed countries. Every year Qatar exports about US$12.7 billion and imports about US$39.58 billion. 0.2% of the country's population is unemployed. The total number of unemployed in Qatar is 5,390. Government spending on education is 4.1% of GDP. The country's Gini index is 41.1. There is a lack of equality in Qatar. The gap between the richest and poorest citizens in this country is palpable. Qatar has a Human Development Index (HDI) of 0.851. Qatar has a very high HDI value. This suggests that almost all citizens are able to lead a desirable life because of social and economic support; Citizens with a low standard of living receive help and support and have the opportunity to advance in society. The Global Peace Index (GPI) for Qatar is 1.568. Due to the strong presence of the law enforcement authorities and the high level of social responsibility, Qatar is very safe in international comparison. The Strength of the Legal Rights Index for Qatar is 1. Overall, it is considered to be rather weak – bankruptcy and collateral laws fail to protect borrowers' and lenders' rights in the event of credit-related complications; Credit information is scarce, if any, and difficult to access.

Currency
The currency of Qatar is the Qatari riyal. The plural form of the word Qatari riyal is riyals. The symbol used for this currency is ر.ق and is abbreviated as QAR. The Qatari riyal is subdivided into dirhams; One rial contains 100.

Credit rating
The credit information index for Qatar is 5 which means that information is usually sufficient and accessible, although occasionally some necessary details may be missing. According to the rating agency S&P, Qatar has a credit rating of AA and the prospects for this rating are stable. According to rating agency Moody's, Qatar has a credit rating of Aa2 and the outlook for this rating is stable.

Central bank
In Qatar, the institution that manages the state's currency, money supply, and interest rates is called Qatar Central Bank. Locally, the central bank of Qatar is called مصرف قطر المركزي. The average deposit interest rate offered by local banks in Qatar is 1.4%.

Public debt
Qatar has a government debt of 70% of the country's Gross Domestic Product (GDP), as assessed in 2013.

Tax information
The corporate tax in Qatar is set at 10%. Personal income tax ranges from 0% to 0%, depending on your specific situation and income level. VAT in Qatar is 0%.

Finances
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Qatar is $306616 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Qatar was last recorded at $114 million. PPP in Qatar is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Qatar is 202,450 billion. Based on this statistic, Qatar is considered to have a medium economy. Countries with medium economies support an average number of industries and opportunities for investment. It should not be too difficult to find worthwhile investment opportunities in medium economies. The Gross Domestic Product (GDP) per capita in Qatar was last recorded at $75 million. The average citizen in Qatar has very high wealth. Countries with very high wealth per capita have an extended life expectancy and very high standard of living. Highly skilled workers can be found in many industries, and labor is very expensive in these countries.