Two seasons of excavation at the eighteenth- and nineteenth-century settlement of al-Zubarah in north-west Qatar provide an insight into the emergence and development of early modern pearl-fishing and -trading settlements in the Persian Gulf. Here we present a preliminary overview of the archaeological phases identified so far at the site, discuss characteristics of al-Zubarah’s urban layout, show how archaeology can contribute to the identification of social and economic differences, and further highlight the crucial role of al-Zubarah’s hinterland in supporting the pearl-fishing and -trading economy.