Qatar’s import and export trade practices and policies are liberal and welcoming, in that it stands as a free open economy with a significant reliance on oil and natural gas exports. In 2021, Qatar exported a total of $87B worth of products and services while importing $27.8B, equating to a trade balance surplus of $59.2B for the country (Asharq, 2022). Qatar, being a member of Gulf Cooperation Council (GCC), will apply a five percent value-added tax (VAT) on most goods and services in the near future attributing the delays to the customary tax to COVID-19 complications and inflation concerns. (Asquith, 2023). In accordance with its 2030 National Vision, Qatar has enacted an excise tax on consumer goods that are deemed harmful or detrimental to individuals or the environment. The law ratified in 2019, established up to a 100% tax rate or ‘sin tax’ on products such as tobacco, alcohol, special goods and even carbonated drinks (Ourashi, 2021). Qatar’s reliance on oil and gas exports creates a vulnerability for the country as it relies on unreliable global energy prices, but the government has taken the initiative to diversify by investing into other sectors such as tourism and into their industrialization and modernization.

While it’s a small country in size, Qatar’s nationalists are some of the wealthiest individuals per capita in the world, allowing for an influx of imports that the Qatari splurge on. Most products are allowed to be imported with the proper license, however only Qatari nationalist or Qatari government affiliates are allowed to apply for these licenses (ITA, 2022). Particular product import and export restrictions also exist, as the state owned Qatar Distribution Company holds exclusive rights to import and distribute religiously barred pork or alcohol within the country (Gambrell, 2022). The restriction of importing and exporting certain products are in line with the Islamic culture and values of Qatar. Establishing great bilateral relations with trading partners such as China, South Korea and Japan, they have essentially traded their oil resources for goods and services such as Automobiles and modern machinery for their industrialization (Deepak, 2022). Overall, Qatar’s import and export trade policies are representative of its economic growth, alluring investment opportunities and further development, given its participation in the World Trade Organization and the free trading system of the world.