Government Planning in a Small Economy: Factors limiting the Industrial Diversification Efforts of Qatar

Abstract

The oil reserves of Qatar are small compared to those of some of its neighbouring States in the Persian Gulf. The country has estimated crude oil reserves of 3,200 million barrels, or less than 1 per cent of the world total. This is equivalent to about 30 years of output at current levels, and represents a fraction of reserves in the Persian Gulf region. On the other hand, the country does have significant gas reserves, estimated at 4,400 million cubic metres, or more than 4 per cent of the world total. Only the United Arab Emirates, the former Union of Soviet Socialist Republics (USSR), the Islamic Republic of Iran and Abu Dhabi have larger gas reserves.