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World Bank predicts high per capita income for Qatar in 2019

Qatar riyal
Qatar riyal [File photo]

Qatar has maintained its position as one of the highest per capita income countries in the World Bank’s predictions for 2019. The classification is based on a number of local economic indicators including GDP per capita, economic growth, inflation rates, the exchange rate of the national currency and the size and nature of the population structure.

According to the World Bank, all indicators conclude that Qatar will be ranked among the highest income countries in 2019, especially after the economic recovery witnessed by the Gulf State and its resilience in the face of world changes over the past few years.

According to preliminary estimates, the per capita gross domestic product (GDP) stood at 236,000 riyals ($64,972) at the end of last year, while according to Qatar Central Bank data the per capita GDP reached about 212,000 riyals at the end of 2016. This is equivalent to about $58,241, marking a year on year growth rate of 11.55 per cent. The same data showed that the inflation rate was 0.5 per cent in 2017 compared to 2.7 per cent recorded at the end of 2016.

The World Bank estimated Qatar’s gross national income at $161.18 billion at the end of 2017, equivalent to 586.7 billion riyals, while the country’s GDP reached $167.60 billion, equivalent to 610.08 billion riyals in the same period.

Read: Qatar set to be knocked off its position as richest country in the world

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