The time series of Nominal GDP for Qatar from 1975 till 2021 is shown by Figure 11. It reflects that there exists increasing trend of nominal GDP.
Nominal GDP of Qatar witnessed increasing trend over 1975 till 2003. However, it increased sharply since 2003 and reached a peak in 2008.
Due to the global recession in 2009 Nominal GDP of Qatar was also affected. In 2014 Nominal GDP of Qatar reached its maximum.
The economic cycle remained somewhat volatile since 2014 and contracted substantially in 2020 due to the pandemic.
Source: World Bank
Source: World Bank
The annual growth rate of nominal GDP in Qatar from 1976 to 2021 is presented in figure 12.
Graph reflects the fluctuating behavior of the growth rate of nominal GDP.
The economy experienced a highest growth rate of around 45 percent in 2008 but dipped in 2009 with negative growth of 15 percent due to global recession.
Economy suffered from highest negative growth rate of -21.5 percent in 2015.
The time series of real GDP of Qatar from 2000 till 2021 is presented in Figure 13.
It is indicated by the figure that the real GDP of Qatar exhibited an increasing trend with exponential growth during 2000 to 2011 and posted a sluggish till 2019 before witnessing a decline in 2020.
Source: World Bank
Source: World Bank
The volatile behaviour of Nominal GDP’s growth rate from 2001 till 2021 is highlighted by the Figure 14.
It is indicated that the growth rate of nominal GDP remained positive till 2016, it became negative in 2017 and reached to -1.5 percent.
Qatar’s economy was also negatively influenced by the Covid pandemic as the GDP contracted by -3.6 percent. Economy achieved a highest growth rate in 2006 of 0.26.
The time series of real GDP per capita from 2000 to 2021 is presented in figure 15.
It is apparent that the real GDP per capita remained volatile over the period considered.
It first reflects the increasing trend as real GDP per capita increased from USD 56,864 in year 2000 and reached its peak to USD 65,129 in year 2011.
However, it has been decreasing since 2011 and touched the lowest i.e. USD55,920 in the year 2021.
Decreasing trend during 2011-2021 implies the deterioration in economic well-being.
Source: World Bank
Source: World Bank
The behaviour of growth rate of real GDP per person during 2001 till 2021 for the Qatar’s economy is showed by Figure 16.
It is indicated by the Figure 16 that growth rate of per capita GDP reached a highest value of 7.9 percent in 2004 during 2001 till 2021.
Economy experienced a negative real GDP per capita growth rate in 2003, 2005, 2007, 2008, 2009, 2012, 2017, 2018, 2019, and 2020, out of them highest negative growth rate of 0.064 was achieved in 2005.
Growth rate of per capita GDP also effected by the Covid-19 Pandemic as a result growth rate become negative and reached to the value of -5.3 percent in 2020.
The time series of GDP deflator (Index) from 2001 till 2021 for the economy of Qatar is indicated by figure 17.
It can be observed from the figure below that price level measured by GDP deflator remained volatile with sharp increase in post pandemic year i.e. 2021.
Price levels touch the lowest in 2009 as well as in 2015. Oil dominated Qatar’s GDP is exposed to rise and fall in price level is mainly due to the subsequent oil price shocks in international markets.
Source: World Bank
Source: World Bank
The time series of growth rate of GDP deflator (Inflation) from 2002 till 2021 for the economy of Qatar Figure 18.
It is indicated by the graph that highest rate of inflation was witnessed in 2015 having magnitude of 15.9 percent.
Figure 18 showed the volatility in the growth rate of GDP deflator for the Qatar’s economy.
Economy faced highest negative growth rate of GDP deflator (deflation) in 2014 with the value of -2.93 percent.
The time series of GDP Employment rate of Qatar during 2000 to 202 is reflected by figure 19. It is highlighted by the figure that there exists a downward trend of GDP employment rate of Qatar.
GDP Employment rate hits maximum in 2004 having a magnitude of 150987.8.
Due to global recession GDP Employment rate decline and reached at its minimum value of 120858.6.
One of the reasons of declining trend of GDP employment rate is increment in the population growth by time. Further, GDP employment rate also effected by Covid-19 as a result it declined in 2020.
Source: World Bank
Source: World Bank
Annual growth rate of GDP per person employed is presented in Figure 20.
It can be observed from the figure below that GDP per person employed contracted substantially by -8.5 percent in 2005 after achieving the highest growth rate of 6.5 percent in 2004.
It is indicated by the Figure below that the growth rate of GDP employment rate followed the fluctuating behaviour from 2001 till 2021.
Growth of GDP Employment rate is also affected by the Covid-19 Pandemic in which the negative growth of -4.1 percent was posted in 2020.
Qatar
Saudi Arabia
United Arab Emirates