The United States and Qatar enjoy a strong commercial, political, and security relationship.  With just 300,000 citizens, Qatar enjoys among the highest gross domestic product (GDP) per capita in the world and looks to overseas partners to achieve strategic goals, as outlined in Qatar National Vision 2030, creating opportunities for U.S. businesses in multiple sectors. 

According to the World Bank, by the end of 2022, Qatar’s annual gross domestic product (GDP) saw 4.8% growth – primarily due to a strong hydrocarbon market and the FIFA’s Men’s World Cup. In April 2023, the International Monetary Fund (IMF) forecasted Qatar’s 2023 real GDP growth would be 2.4%.  Near-term growth is boosted by the ongoing Liquified Natural Gas (LNG) expansion and domestic demand for goods and services.  Qatar’s continued economic diversification endeavors will further support economic growth in the medium-term. The IMF forecasts strong fiscal surpluses in the coming years, even before the North Field Expansion project comes fully online, with the government’s 2022 budget surplus reaching 10% of GDP. 

Both total U.S. exports to Qatar and the U.S. trade surplus with Qatar have declined steeply since 2019, with U.S. exports to Qatar going from an all-time high of $6.45 billion in 2019 to $3.65 billion in 2022.  Year-to-date U.S. Census Bureau trade data in May 2023 shows a $517.6 million U.S. trade surplus. Recent significant energy related tender announcements and macroeconomic forecast indicate U.S. exports should continue to rebound in 2024-2026

Qatar remains an important investment partner for the United States.  Its sovereign wealth fund, the Qatar Investment Authority (QIA), is heavily invested in the United States and continues to explore new investment opportunities.  Since 2015, Qatar has invested significantly in U.S. real estate and asset-heavy retail.  QIA is seeking to diversify its U.S. investments by expanding to the technology and healthcare sectors and has committed to invest more than $45 billion in American infrastructure. 

Qatar has taken steps in recent years to further attract foreign direct investment (FDI) and innovation by ratifying a foreign investment law that allows foreign firms up to 100 percent ownership of their businesses in most economic sectors and a Public-Private Partnership (PPP) Law to promote economic diversification and create greater opportunities for U.S. companies in the education, environmental technologies, and healthcare sectors, consistent with fulfilling Qatar National Vision 2030.

Qatar announced a National Climate Change strategy in October 2021, shortly after state-owned Qatar Petroleum (QP) rebranded as Qatar Energy (QE).  The name change to QE directly supports Qatar’s focus on LNG as a cleaner energy alternative that can serve as a transition energy source while the world adopts more renewable energy sources. QE is deepening its investments in LNG with its $50 billion North Field (East and South) LNG Expansion project.  This project includes the construction of six LNG mega-trains, creating significant opportunities for U.S. energy companies. In addition, QE invested $18 billion in the U.S. energy sector, in the Golden Pass Terminal ($10 billion) in Texas and a petrochemical plant on the Texas Gulf Coast ($8 billion).  QE oversees the oil, gas, fertilizer, petrochemicals, and refining operations in country and has multi-billion dollar interests abroad. As a global leader in LNG extraction, QE is an important player both in Qatar and globally. 

The U.S. Commercial Service in Doha continues to monitor government changes to counsel U.S. businesses with the most current regulatory information available.

Political Environment

Visit State Department’s website for background on Qatar’s political and economic environment.