Qatar ("chatt-ar") is a peninsula jutting into the Persian Gulf, to the north of Saudi Arabia, East of Bahrain and West of the Emirates.

History

Since the mid-1800s, Qatar transformed itself from a poor British protectorate noted mainly for pearling into an independent state with significant oil and natural gas revenues, which enable Qatar to have a per capita income not far below the leading industrial countries of Western Europe. Qatar is home to the Al Jazeera television station and is rapidly entering the modern world, including the staging of the 2006 Asian Games.

Economy

Oil accounts for more than 30% of GDP, roughly 80% of export earnings, and 58% of government revenues. Proved oil reserves of 3.7 billion barrels should ensure continued output at current levels for 23 years. Oil has given Qatar a per capita GDP comparable to that of the leading West European industrial countries. Qatar's proved reserves of natural gas exceed 7 trillion cubic meters, more than 5% of the world total, third largest in the world. Production and export of natural gas are becoming increasingly important. Long-term goals feature the development of offshore natural gas reserves. In 2000, Qatar posted its highest ever trade surplus of $7 billion, due mainly to high oil prices and increased natural gas exports, and managed to maintain the surplus in 2001.