Doha: Qatar and UAE have entered the list of the richest countries in the world. Qatar is ranked fifth in the list of global finance. This shows the growth stability of Qatar’s economy despite the challenges of covid and fluctuations in oil prices.
Apart from Qatar, the UAE has also made it to the top ten among the Gulf countries. Qatar’s per capita gross domestic product (GDP) reached $143,000 in 2014 before a sharp decline. With the growth of the economy in recent years, GDP has increased to $10,000 per year. Qatar’s total GDP in 2023 was $220 billion.
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The report also pointed out that Qatar was able to overcome the challenges due to the resilience of the economy to absorb the changes despite having to face major crises including the spread of Kovid-19. Qatar’s economy is expected to grow by around 2 percent in 2024 and 2025, despite global trade barriers and lower oil prices.
