The paper "GDP and Standard of Living - Qatar " is a perfect example of a business case study. Qatar is a country which is located on the western side of the Asian Continent. This country occupies a small peninsula on the coast on the northern side of the peninsula in the Arab area. It borders Saudi Arabia to its south and the other part of the country appears to be confined in the famous Arabian Gulf. Qatar is currently the world's richest country due to the fact that it's endowed with the largest amount of natural resources such as petroleum and natural gas (MDPS, 15).
In this section of the report, I will give the history of the country's economic background, describe its demographics, show the trend of its GDP over the past few years and conclude by commenting on the country's standards of living at the end of the paper. Qatar's Gross Domestic Product was 164.6 billion USD worth in the year 2015. Qatar's GDP accounts for 0.27% of the total economy of the world. The average GDP for the country between the hear 1970 and 2015 was 37.71 billion USD (MDPS, 15).
The lowest of the period was recorded in the year 1970 (0.3 billion USD) and the highest was 206.20 billion USD in the year 2014. The graph below represents the trend of the GDP of the country from the year 2006 to the year 2015 (World Bank, 2016). It is clear from the graph that there has been unstable growth in the country’ s economy for the period between the year 2007 and the year 2015. I tend to think that the country’ s greater dependence on the oil and gas sectors contributes to this unstable nature of the growth of the country’ s economy. Qatar's government has been using the industry as its integral part in the planning of diversification of the economy and the maximization of its huge reserves of natural gas.
The government carefully plans on the various industrial developments with the biggest emphasis diverted to the export industry (Sloman, J. and Wride, 156). The government has also emphasized the growth of the energy industry which is the key industry of the country's economy.
Its emphasis on these industries has led to considerable growth and development of the country's economy over the last three years.
Ministry of Development Planning and Statistics, MDPS. Measuring the Standard of Living in Qatar Household Expenditure and Income survey 2012/2013, 2015. Pp. 1-66 Web.
Feese, Daniel. The Index of Economic Freedom" the Heritage Foundation concept. GRIN Verlag, 2011. Pp. 328-329.Print
Sloman, J. and Wride, A., (. Economics, 7th Edition, FT Prentice Hall. 2009. Print.
World Bank Economic Growth of Nations. 2016