Qatar is a peninsular Arab nation with harsh desert and a lengthy stretch of beaches
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Qatar is a peninsular Arab nation with harsh desert and a lengthy stretch of beaches and dunes along the Persian (Arab) Gulf coast. It has an area of 11,437 km2 (4,416 sq mi) on a peninsula that juts out roughly 160 km (99 mi) into the Persian Gulf. Qatar shares maritime borders with Iran, the United Arab Emirates, and Bahrain in addition to a land border with Saudi Arabia. Unitary Islamic parliamentary authoritarian monarchy is in charge. Like the majority of the countries in the Persian Gulf, which have experienced waves of migration over the past 30 years, Qatar is an Islamic state with multireligious minorities. Its capital is Doha. According to Worldometer's elaboration of the most recent United Nations data, as of Tuesday, November 22, 2022, Qatar has a population of 2,997,199 people. Only 11.6% of the population is Qatari, compared to 88.4% of non-Qatari citizens. Despite the fact that English is commonly spoken, Arabic is the official language of the nation. Islamic religion. Qatari riyal is used as money (QAR). Qatar is a founding member of the Organization of the Petroleum Exporting Countries (OPEC), the Arab League, and the Organization of Islamic Cooperation. It was also a founding member of the Gulf Cooperation Council (GCC). In 1971, it acceded to the United Nations, and in 1996, it joined the World Trade Organization. Qatar maintains close links with a number of Middle Eastern Islamist movements, including the Muslim Brotherhood, as well as China, Iran, Turkey, and the United States. Qatar reportedly provided weapons to Libyan opposition organizations in 2011 when it joined NATO operations there. Since 1971, it has participated in the United Nations. GDP is growing at a 1.5% annualized rate (2021). The country's GDP is 179.6 billion USD (2021). The GDP per capita is US$6127600. (2021). In 2022, Qatar's net migration rate is 9.868 per 1000 people, a 10.88% decrease from 2021. In 2021, Qatar's net migration rate was 11.073 per 1000 people, a 9.81% decrease from 2020. In 2020, Qatar's net migration rate was 12.278 per 1000 people, down 8.94% from 2019. Around 88% of the population are foreign workers, with almost 700,000 Indians constituting the largest ethnic group. The treatment of these immigrant workers has drawn harsh criticism, with some claiming that the circumstances amount to contemporary slavery. 2,937,800 (2022 est.) 1.04% (2022 est). (2022 est.). Qatar's unemployment rate stayed the same in the second quarter of 2022 at 0.1%. The highest rate was 3.9%, and the lowest was 0.1%. It is hardly surprising that this small, developed country would have such a low jobless rate. One such policy that serves as a guide for Qatar is its National Vision 2030, which emphasizes the importance of having a strong labor force that is not only knowledgeable and capable but also upholds a commitment to business ethics. Qatar has an employment rate of 1.17%. The balance of payments for Qatar was stated to be 62,809.000 QAR. Japan is Qatar's principal commercial partner (28 percent of total exports and 8 percent of imports). Others include South Korea, India, China, and the United Arab Emirates. In September 2022, Qatar's trade surplus increased to QAR 96.3 billion from QAR 19.1 billion the previous month. Qatar has some of the greatest oil and gas reserves in the world, and a significant portion of its production is carried out by foreign labour. The nation's citizens benefit from a high level of living and a solid system of social services as a result of its oil resources. Due to the high price of oil, the United States' exports have seen favourable growth. Food products, commodities required for industrial infrastructure, and items for personal use are all excluded from customs taxes. On the majority of other commodities, an import tax of only 4% is applied. In addition, protection taxes of 20% on imported iron and steel and 30% on urea are levied on goods that compete with locally produced goods. Commodities imported from the GCC nation are immune from customs taxes, and tobacco is subject to a 50% customs duty as well as 15% customs duty on CDs and musical instruments. Petroleum Gas ($22.2 billion), Crude Petroleum ($9.89 billion), Refined Petroleum ($6.14 billion), Ethylene Polymers ($1.56 billion), and Nitrogenous Fertilizers ($1.15 billion) are Qatar's top exports, with the majority going to Japan ($8.09 billion), India ($7.25 billion), China ($7.09 billion), South Korea ($6.02 billion), and Singapore ($2.83 billion). By country, China will account for 16.2% (4.55 billion US dollars) of Qatar's imports in 2021. United States, 11.8% (3.31 billion US dollars), India contributed 6.35 percent (1.77 billion US dollars). With a stake of 5.78% (1.61 billion US dollars), Germany. Gas turbines ($22.2 billion), cars ($1.31 billion), aircraft ($1.14 billion), jewellery ($1.01 billion), and special-purpose ships ($814 million) are among the imports from Qatar to these nations. As the relative share ratio of Qatar's imports from this group ranks first among the country's exports from all other economic blocs, this group is the country's most significant trading partner. In terms of relative ratio, Qatari exports to north American nations, the majority of which originate in the United States of America, rank fourth. The riyal is the country of Qatar's currency (abbreviated to QR or QAR). There is a set exchange rate of US $1 = QR3.64. There are no restrictions on foreign exchange. Numerous sites have ATMs, and the majority of stores and eateries accept major credit cards. As part of its efforts to diversify its economy and build a strong private sector, Qatar invests the proceeds from its enormous oil and gas reserves in a variety of other industries. The country also works to entice foreign investors by offering flexible business regulations and full membership in the World Trade Organization. For industrial land sites, Qatar offers a nominal lease rate of only Qatari Riyals per square meter per year for the first three years following site assignment and project operation, after which the lease rate will increase to Qatari Riyals; exemption from import taxes on heavy duty machinery and their spare parts and raw materials; exemption from import taxes; unlimited imports of materials; low electricity, water, and gas rates; nominal lease rate of only Qatari Riyals per square meter per year for industrial land sites. The right to import is granted to the foreign investor for his investment project in order to create, operate, or expand. Within ten years of the project's start date, the foreign capital investment is exempt from income tax. Customs exemption for industrial projects on their imports of semi-finished products or raw materials required for production but unavailable on the local market. Investor Incentive Programs Allow for investment opportunities and have the foundational research ready for industry projects. Aid in the loan application process for approved industrial projects with the bank of industrial development and other lending institutions. Offer power, oil, water, and natural gas to the project at fair costs. The fact that a large portion of Qatar's workforce is made up of foreigners continues to worry Qatari authorities. Egypt has been prohibited from hiring employees since 1996, when the government asserted that Egypt had participated in a failed coup. The government has actively promoted initiatives to promote and support the hiring of Qatari citizens. A five-year plan put in place in 2000 to considerably increase the number of Qataris in the labor force, however, fell far short of its objectives. Associations and labor unions are prohibited. The typical workweek runs from Saturday through Wednesday, as it does in the most of the countries in the region. Qatar's economy has grown significantly over the past few decades, partly as a result of income from its natural gas and oil deposits. To make its banking and financial system safer and more effective for its citizens, the nation has been doing so. The monetary and governing body of Qatar's banking and financial system is the Qatar Central Bank. It is in charge of creating and carrying out policies that are largely focused on maintaining economic stability and averting financial imbalances. In order to safeguard the nation's interests, Qatar has developed a highly effective, strong, and secure banking and financial system. This development has been aided by the government policy that is based on the free market principle. Even though it is expanding quickly, the Qatari banking system is still modest in comparison to other nations' systems in terms of market size. By offering loans and other financial services, banks play a crucial part in fostering economic growth. In addition, the Qatari government occasionally makes direct investments in its native banks. Established in 1993, the Qatar Central Bank (Maraf Qaar al-Markaz) performs banking services for the government and issues the Qatari rial, the country's currency. Foreign banks with a license may operate alongside domestic banks, including commercial, development, and Islamic banks (organizations constrained by stringent religious laws governing transactions). Qatar has been quite generous in its distribution of foreign aid, especially to other Arab and Islamic nations. In 1997, the Doha Stock Exchange opened for business. The Qatar Free Zones Authority (QZFA), which is in charge of the development and management of Free Zones in Qatar, currently oversees two of them. Ras Bufontas Free Zone and Umm AlHoul Free Zone are the two free zones. Qatar's state debt in 2021 was 88,600 billion euros (104,860 billion dollars), down 2 million from 2020. According to this figure, the debt in Qatar in 2021 amounted to 58.36% of GDP, a 14.25 percentage point decrease from 2020 when it was 72.61% of GDP. The number of refugees in Qatar in 2021 was 197.00, a decrease of 1.99% from 2020. The number of refugees in Qatar in 2020 was 201,000, a 0.5% decrease from 2019. In 2019, there were 202 refugees in Qatar, a 6.88% rise from the previous year. Qatar has a competitive advantage based on its strong foundations, which are represented by its possession of a vibrant market for goods, a stable economic environment, and internationally effective institutional frameworks. Because to the government's economic policies, Qatar has one of the fastest growing economies in the world and is known for its capacity to sustain this growth. With agriculture making up only 0.3% of the GDP, Qatar's comparative advantage in energy- intensive industries accounts for 6.7% of the nation's GDP. And now, Qatar is the 31 least corrupt nation out of 180 countries, according to the 2021 Corruption Perceptions Index reported by Transparency International. Document Outline
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