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Who is the richest?
Qatar, which has one of the highest rates of per capita GDP growth in the world, topped the regional list for 2008.
December 27, 2009 1:33 by Aarti Nagraj
Qatar recorded a per capita GDP of $70,651 in 2008, the highest in the region, according to figures released by the Arab League’s 2009 economic report, says the Qatar News Agency. The tiny country boasts a population of 1.448 million, and is one of the richest countries based on per capita GDP in the world.
Qatar’s income mainly comes from LNG and oil, and its economy grew 11 percent in the third quarter of 2009 compared to the previous quarter, with the GDP totaling QR75.5 billion ($20.7 billion). The country is expected to see a GDP growth of 9 percent in 2009.
Meanwhile the second richest country in the region based on per capita GDP in 2008, was the UAE, which saw $52,574 during the period with a population of 4.76 million and a nominal GDP of $250.6 billion.
The UAE has been doing well in the last few years; according to recent figures released by the Ministry of Economy, the UAE’s real GDP grew by an average of around 14.8 percent annually between 2001 and 2008, one of highest growth rates in the world, thanks to increasing oil prices.
However, the financial crisis has hit the country hard, and the recent debt problems in Dubai forced experts to lower their GDP forecasts for the country from around 3 percent to close to zero percent in 2009.
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