Qatar
Middle East · Doha · QAR (Qatari Riyal)
Economy & industry overview
Qatar is a high-income Gulf state whose economy is anchored by the world's largest liquefied natural gas (LNG) export operations and significant petroleum production, with hydrocarbon revenues accounting for roughly 37 percent of GDP. The country holds approximately 11 percent of the world's known natural gas reserves, making it one of the leading energy exporters globally. Diversification efforts under Qatar National Vision 2030 have driven growth in financial services, construction, tourism, and logistics, with non-hydrocarbon GDP expanding 4.8 percent in 2025. Real GDP grew approximately 2.9 percent in 2025, inflation remained subdued at around 0.5 percent, and the current account recorded a substantial surplus. The Qatar Stock Exchange lists around 55 domestic companies across banking, energy, industrials, and real estate, with the financial sector dominating by market capitalisation.
Key sectors
Learn everything about Qatar →Macro
| GDP nominal, USD | $216.29B |
| GDP growth real, annual | 2.3% |
| Inflation annual | 1.3% |
| Population people | 3.1M |
| GDP per capita USD | $70,930 |
| Market cap total listed, USD | $166.30B |
| Market cap / GDP | 76.9% |
| Unemployment | 0.1% |
| Listed companies | 55 |
| Exchange | Qatar Stock Exchange, the principal securities exchange of Qatar, headquartered in Doha and operating under the supervision of the Qatar Financial Markets Authority. (QSE) |
Primary data year: 2024. Sources: Qatar Central Bank, Annual Macroeconomic Review 2025, IMF Article IV Consultation, Qatar, February 2025, World Bank Development Indicators 2024, Forbes Middle East, Top 20 Listed Companies in Qatar 2025, MSCI Qatar Index Factsheet (msci.com), MSCI Qatar IMI Index (msci.com), Qatar Stock Exchange (qse.com.qa), FocusEconomics, Qatar Country Report 2025, Swiss Economic Report on Qatar 2024/2025, ILO Qatar Employment Factsheet, August 2025, BusinessToday India, Qatar Golden Visa, October 2025, IMI Daily, GCC Golden Visa Guide 2026, Worldometer Qatar GDP 2025, StockAnalysis.com, Qatar Stock Exchange listings, Capital.com, Top Companies in Qatar by Market Cap 2026, TheGlobalEconomy.com, Qatar Listed Companies 2025, CEIC Data, Qatar Market Capitalization and Macroeconomic Indicators. Individual figures may cover different reference periods — for example a fiscal year, or an estimate for the current year — and the overview above states these where known.
Latest news
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Other Middle East markets
Saudi Arabia
United Arab Emirates
Kuwait
Oman
Jordan
BahrainLargest listed companies
The biggest companies on the main local exchange, by market capitalisation. Where a foreign company holds a secondary listing here, it is shown after the domestic companies.
| # | Company | Sector | Market capUSD | US listing |
|---|---|---|---|---|
| 1 | Qatar National Bank (Q.P.S.C.)QNBK · QSE | Finance · Banking | $41.10B | — |
| 2 | Industries Qatar Q.P.S.C.IQCD · QSE | Industrials · Petrochemicals and Manufacturing | $20.20B | — |
| 3 | Qatar Islamic Bank (Q.P.S.C.)QIBK · QSE | Finance · Islamic Banking | $14.90B | — |
| 4 | Ooredoo Q.P.S.C.ORDS · QSE | Telecommunications | $11.70B | — |
| 5 | Qatar Gas Transport Company Limited (Nakilat) (Q.P.S.C.)QGTS · QSE | Transportation · Maritime LNG Shipping | $6.70B | — |
| 6 | Ezdan Holding Group Q.P.S.C.ERES · QSE | Real Estate · Residential and Commercial | $6.50B | — |
| 7 | Masraf Al Rayan (Q.P.S.C.)MARK · QSE | Finance · Islamic Banking | $5.70B | — |
| 8 | Dukhan Bank (Q.P.S.C.)DBIS · QSE | Finance · Islamic Banking | $5.00B | — |
| 9 | The Commercial Bank (P.S.Q.C.)CBQK · QSE | Finance · Banking | $4.90B | — |
| 10 | Estithmar Holding (Q.P.S.C.)IGRD · QSE | Real Estate · Hospitality and Development | $4.80B | — |
| 11 | Qatar Insurance Company (Q.S.P.C.)QATI · QSE | Finance · Insurance | $4.50B | — |
| 12 | Qatar Electricity and Water Company Q.P.S.C. (QEWC)QEWS · QSE | Utilities · Power and Water | $4.50B | — |
| 13 | Qatar International Islamic Bank (Q.P.S.C.)QIIK · QSE | Finance · Islamic Banking | $4.40B | — |
| 14 | Qatar Fuel Company Q.P.S.C. (Woqod)QFLS · QSE | Energy · Fuel Distribution and Retail | $3.40B | — |
| 15 | Qatar Navigation Q.P.S.C. (Milaha)QNNS · QSE | Transportation · Maritime and Logistics | $3.00B | — |
| 16 | Vodafone Qatar (P.Q.S.C.)VFQS · QSE | Telecommunications | $2.70B | — |
| 17 | Ahlibank (Q.P.S.C.)ABQK · QSE | Finance · Banking | $2.50B | — |
| 18 | Qatar Aluminium Manufacturing Company Q.P.S.C. (Qamco)QAMC · QSE | Materials · Aluminium Production | $2.00B | — |
| 19 | Nebras Power Q.P.S.C.NWBK · QSE | Utilities · Power Generation | $1.90B | — |
| 20 | Qatar National Cement Company (Q.P.S.C.)QNCD · QSE | Materials · Cement and Construction Materials | $1.47B | — |
| 21 | Al Meera Consumer Goods Company Q.P.S.C.MERS · QSE | Consumer Staples · Retail | $1.10B | — |
| 22 | Qatar Islamic Insurance Group Q.P.S.C.QISI · QSE | Finance · Islamic Insurance (Takaful) | $530.00M | — |
| 23 | Qatar General Insurance and Reinsurance Company Q.P.S.C.QGRI · QSE | Finance · Insurance and Reinsurance | $420.00M | — |
| 24 | Qatar Industrial Manufacturing Company Q.P.S.C.QIMD · QSE | Industrials · Manufacturing | $380.00M | — |
| 25 | Qatar Oman Investment Company Q.S.C.QOIS · QSE | Finance · Investment | $255.00M | — |
US-traded ETFs
Funds listed in the US that give exposure to this market, the simplest route for many US investors.
| ETF | Scope | Expense ratioannual % | Exposure% of fund |
|---|---|---|---|
| QATiShares MSCI Qatar ETF · BlackRock (iShares) | Single-country | 0.59% | 100% |
| VWOVanguard FTSE Emerging Markets ETF · Vanguard | Broad EM | 0.08% | 0% |
| EMGFiShares Emerging Markets Equity Factor ETF · BlackRock (iShares) | Broad EM | 0.25% | 1% |
| EEMiShares MSCI Emerging Markets ETF · BlackRock (iShares) | Broad EM | 0.70% | 1% |
| GULFWisdomTree Middle East Dividend Fund · WisdomTree | Regional | 0.88% | 15% |
Local exchange & access
| Exchange | Qatar Stock Exchange, the principal securities exchange of Qatar, headquartered in Doha and operating under the supervision of the Qatar Financial Markets Authority. |
| Code | QSE |
| Website | www.qse.com.qa |
| Currency | QAR |
Local broker access
Foreign investors can access Qatar Stock Exchange-listed equities through international brokers that provide Gulf region or emerging-market trading desks, including Interactive Brokers, Saxo Bank, and certain regional brokers such as QNB Financial Services and Commercial Bank Brokerage. Direct retail access for non-residents requires approval and account opening with a QSE-registered brokerage. US-based investors most commonly gain exposure through the iShares MSCI Qatar ETF (ticker QAT) without needing a direct brokerage account in Qatar. There are no Qatari company ADRs actively trading on major US exchanges as of 2025. Foreign ownership limits apply to individual listed companies and vary by sector; certain shares are reserved for Qatari nationals.
Global brokers with foreign-market access
- Interactive Brokers — Direct access to 90+ markets worldwide, including many emerging exchanges.
- Saxo Bank — Multi-market access across Asia, Europe and the Middle East.
- Charles Schwab (Global) — Foreign ordinary shares on select markets; US-listed ADRs and ETFs.
- Fidelity International Trading — International stock trading on a number of developed and emerging markets.
Listed for convenience only. Not a recommendation. Available markets, fees and onboarding rules differ by broker and by your country of residence.
Relocation & residency
Investment visa / residency programme
Grants Temporary residency (renewable) or permanent residency, depending on investment level. No pathway to citizenship.
Qatar operates a residency-by-investment programme, commonly referred to as the Qatar Golden Visa, introduced in September 2020 and expanded since. A temporary residence permit is available for a minimum real estate investment of approximately USD 200,000 (QAR 730,000) in designated freehold zones such as Lusail or The Pearl. A permanent residence permit is available for a minimum real estate investment of approximately USD 1,000,000 (QAR 3,650,000). Permanent residency grants access to public healthcare and schooling but is subject to an annual issuance cap of 100 approvals. In 2024, Qatar also introduced the Mustaqel Visa, a five-year renewable residency aimed at entrepreneurs who commit a minimum of approximately USD 69,000 via a business plan approved by a recognised local incubator, and at highly skilled professionals. No citizenship-by-investment programme exists; none of these routes leads to a Qatari passport.
Minimum investment: $200.00K
Need help applying? Specialist investment-migration advisers such as Henley & Partners.
Foreign-investor access
Qatar has no personal income tax for individuals. Foreigners constitute the large majority of residents, with expatriates making up roughly 88 percent of the population. Arabic is the official language and English is widely used in business. The Qatari riyal is pegged to the US dollar at a fixed rate of approximately 3.64 QAR per USD. Qatar joined the US Visa Waiver Programme in 2024, allowing Qatari citizens visa-free travel to the United States. Cost of living is relatively high, particularly for accommodation in prime areas such as The Pearl and Lusail. Religious and social norms are governed by Islamic law and should be observed by residents and visitors.
US-listed ADRs & cross-listings
Companies from this country whose shares also trade in the US, investable in a normal US brokerage account.
| Company | US ticker | Local ticker | Note |
|---|---|---|---|
| No major Qatari companies maintain active ADR programmes on US exchanges as of 2025. | — | Qatari listed companies, including QNB Group, Industries Qatar, Qatar Islamic Bank, and Ooredoo, do not have sponsored or unsponsored ADR programmes trading on NYSE or NASDAQ. US investors seeking direct equity exposure to Qatari companies typically use the iShares MSCI Qatar ETF (QAT) or international brokerage accounts with access to the Qatar Stock Exchange. |