Turkey-Qatar Economic and Trade Relations

By the end of 2018, trade volume between the two countries increased by 57 %, compared to 2017, and reached a level of USD 1.4 billion.

Currently, more than 180 Turkish companies are operating in Qatar and the total value of projects undertaken by Turkish companies in Qatar has reached a level of USD 17.4 billion. In addition, Qatar ranks first among the Gulf countries in terms of the number of projects undertaken by Turkish contractors.

The volume of Qatari capital investments in Turkey has also been increasing steadily. In line with Turkey’s deepening relations with Qatar, Turkey has become an important destination for Qatari tourists.

Economy of Qatar (2017)

GDP (billion USD)

167,6

Inflation Rate (%)

CPI: 0,5
PPI: 19,2

Real GDP growth rate (%)

1,6

Unemployment rate (%) (2016)

0,7

Population (million)

2,6

Export (fob-billion $ )

85,4

GDP per capita (USD)

63.505

Import (fob-billion $ )

63

Source: Ministry of Development Planning and Statistic of the State of Qatar and Ministry of Trade of the Republic of Turkey

Main import partners: USA, United Kingdom, Germany, France, People’s Republic of China

Main export partners : South Korea, Japan, People’s Republic of China, India, Singapore

Main import items: Machines and devices, vehicles, electrical and electronic equipment, jewelry accessories

Main export items : Petroleum-based hydrocarbons, petroleum derivatives, raw aluminum, chemical fertilizer

Bilateral Trade and Economic Relations (million USD) :

2015

2016

2017

2018

Export

423

439

649

1.096

Import

360

271

264

335

Volume

783

710

913

1.431

Balance

63

168

385

761

Source: TurkStat

Turkey’s main export items to Qatar: Electrical and electronic equipment, furniture, construction components, petroleum and mineral oils, milk and dairy products

Turkey’s main import items from Qatar: Raw aluminum, mineral fuels (LNG), and plastic products

Number of Qatari tourists visiting Turkey : 35.832 (2015), 32.681 (2016), 48.784 (2017), 96.327 (2018)

Bilateral Cooperation Mechanisms:

Joint Economic Commission Meetings: The 6th Turkish-Qatari Joint Economic Commission Meeting was convened on 24-25 October 2016 in Doha. The current Turkish co-chair of the Joint Economic Commission is Berat Albayrak, Minister of Treasury and Finance.

Turkey-Qatar Business Council: Relations between the business councils of the two countries are increasing. The Foreign Economic Relations Board of Turkey (DEIK) and its Qatari counterpart under the roof of Turkey-Qatar Business Council of DEIK, Qatar Businessmen Association (QBA), organized a meeting on 22 March 2018 in Doha.