The economy of Qatar is one of the richest in the world based on GDP per capita, ranking between fifth and seventh on world rankings for and data compiled by the World Bank , United Nations , and IMF. Qatar has the world's third largest proven natural gas reserve and is the second-largest exporter of natural gas. Before the emergence of petrol-based industry, Qatar was a poor pearl diving country. The exploration of oil and gas fields began in Qatar's economy was in a downturn from to OPEC Organization of Petroleum Exporting Countries quotas on crude oil production, the lower price for oil , and the generally unpromising outlook on international markets reduced oil earnings. In turn, the Qatari government's spending plans had to be cut to match lower income. The resulting recessionary local business climate caused many firms to lay off expatriate staff. With the economy recovering in the s, expatriate populations, particularly from Egypt and South Asia , have grown again. However, large natural gas reserves have been located off Qatar's northeast coast. These offshore gas fields also may contain significant oil and condensate reserves. For example, the state owned Qatar Petroleum found 2 offshore oil fields in the s. At the time production was too expensive. However, technological development led to production over 30 years later. The gas condensate can be refined to usual oil products in specialised refineries. The costs are a bit higher but it is normal today for companies to use the gas condensate too. Oil offshore production in for PS-2 and PS-3 blocks was about So the , bpd peak and a depletion in is delayed. Oil production in June seemed to be around , barrels per day, a bit down from February production of , barrels per day. Taking all liquids together Qatar is already far beyond a million barrels per day. Further phases of North Field gas development costing billions of dollars are in various stages of planning and development. All these industries use gas for fuel. The U. Growing numbers of foreign-educated Qataris, including many educated in the U. In order to control the influx of expatriate workers, Qatar has tightened the administration of its foreign manpower programs over the past several years. Security is the principal basis for Qatar's strict entry and immigration rules and regulations. The government considers industry to be an integral part of its plan to diversify the economy and maximize its huge natural gas reserves, which serve as the primary feedstock for the sector. Accordingly, careful planning has gone into industrial development. With an eye towards exports, development has been clustered around the ports of Ras Laffan Industrial City and Mesaieed Industrial Area , which are key centers of energy. The result has seen considerable growth over the years. In the manufacturing sector made the third-largest contribution to GDP among non-oil and gas sectors, equivalent to about 7.
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