Qatar’s Economy By: Wesley and Kelsey 6D and 6C 5/5/09 Grade: 6

Economic Life In Qatar Qatar uses its oil wealth to fuel rapid growth and development. Qatar government dominates the country although foreign investment is encouraged and many small business exists. In the late 1980s, Qatar began to emphasize gas extraction and processing and also other industrial ventures. Qatar’s gross domestic product(GDP) totaled $42.5 billion in 2005! It GDP per capita was $52,239.70. More than 90 percent of Qatar’s labor force is still based on foreign origin. It reflects the lack of indigenous skills and trainings for the country’s economy. The government promotes more Qatari citizens in the workforce but the country still depends on foreign workers a lot.

Trade In Qatar Most of the things that Qatar export are oil, natural gas, and other products which are derived from oil or natural gas. They use machinery, transport equipment and basic manufactures for transport. The main trading partners of Qatar are Japan, the United States and the United Arab Emirates. Qatar is a member of the Organization Of Petroleum Exporting Countries(OPEC). In 2007, Qatar exported $37.9 billion and imported $22 billion.

Qatar’s Trade Partners Here are the export partners of Qatar. Japan- 39.9% South Korea-19.9% Singapore-9.9% India-5.1% Thailand-4.9% UAE-4%

Life In Qatar Before Oil Before the discovery of oil, Qatar life was focused on fishing and pearling. Their way of fishing and pearling are based on the traditional method. After the introduction of the Japanese cultured pearl which means cultured pearl means a pearl created by a pearl farmer under controlled conditions, the Qatar’s pearling industry faltered.

Life In Qatar After Oil After the discovery of oil in Qatar, life in Qatar became totally different. The country became richer and life was getting better and better. Qatar started exporting oil to other countries and thus, their relationships became closer too. This became a very great benefit for Qatar. Soon, Qatar also created the liquefied natural gas and sold it to other countries. They built more buildings and even planned to build an entertainment city in the future.

Pictures Of Qatar

Why Is Qatar Part Of Asia It is because Qatar has a lot of relationship with asian countries such countries as Thailand, India, Singapore, Japan and South Korea. Qatar is their trade partner so it is considered under Asia.

Bibliography https://www.cia.gov/library/publications/the- world-factbook/geos/qa.html http://encarta.msn.com/encyclopedia_761554212 _4/Qatar.html http://encarta.msn.com/encyclopedia_761554212 _3/Qatar.html http://en.wikipedia.org/wiki/Qatar http://www.everystockphoto.com/