Arab Today, arab today qatar gdp growth seen sharply down in 20122013
Last Updated : GMT 10:15:39
Arab Today, arab today
Arab Today, arab today

Qatar GDP growth seen sharply down in 2012-2013

Arab Today, arab today

Arab Today, arab today Qatar GDP growth seen sharply down in 2012-2013

Doha - Arabstoday

Qatar’s economy is projected to slow down sharply in 2012-2013 after recording one of the world’s highest growth rates following the completion of mega gas projects, according to a key Saudi bank. The Gulf country’s real GDP had recorded double-digit growth over the past decade before slipping below 10 per cent in 2009 due to the 2008 global fiscal distress. But it sharply rebounded to 16.3 per cent in 2010 and is expected to have swelled by 14.1 per cent in 2011.Growth is expected to plunge to six per cent in 2012 and continue its downward trend to reach 4.6 per cent in 2013, Saudi American Bank Group (SAMBA) said in a study published this week. Citing Qatari government data, it said 2011 real GDP growth was driven by good performance in both the oil and non-hydrocarbon sectors, which expanded by 15.7 and 12.9 per cent respectively. “These figures may yet be revised but they point to an encouraging performance in the broader economy which is expected to strengthen through 2012 as the authorities push ahead with ambitious infrastructure and development plans,” the report said. “As for 2012, we have adjusted our growth projections on the basis of the new figures and now expect real GDP growth to hit six per cent, before slipping to 4.6 per cent in 2013, driven in large part by an acceleration in spending under the country’s National Development Strategy (NDS). “It said the construction sector should be a major beneficiary of such activity and expected it to grow strongly this year and in 2013.Although still dominated by the hydrocarbons sector, which also provides the feedstock for much of Qatar’s manufacturing as well as revenues to fund government services and infrastructure spending, the Qatar economy is becoming increasingly diversified, according to Samba. The report showed the non-hydrocarbons sector has grown to account for 55 percent of real GDP in 2011 from 43 percent in 2000. Meanwhile, nominal GDP soared by another 36 percent to reach $174 billion in 2011, making the economy almost ten times larger than in 2000. Per capita income in Qatar is now amongst the highest in the world at over $100,000. Qatar has the world’s third largest proven gas reserves at around 25 trillion cubic metres after those in Iran and Russia. But it became the top global LNG exporter after the completion of mega projects at its gigantic offshore North Field at the end of 2010 lifted output to nearly 77 million tonnes per year.The surge in its gas income allied with oil revenue and Qatar’s relatively small population of around 1.8 million to turn it into one of the wealthiest nations.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today qatar gdp growth seen sharply down in 20122013 Arab Today, arab today qatar gdp growth seen sharply down in 20122013

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today As Olympics loom, China plunges into snow biz

GMT 10:08 2017 Tuesday ,28 February

As Olympics loom, China plunges into snow biz
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Kalam Nawaem made a difference in social issues

GMT 06:43 2017 Tuesday ,28 February

Kalam Nawaem made a difference in social issues

GMT 05:34 2017 Monday ,27 February

Brexit sows seeds of doubt for British farmers

GMT 06:38 2017 Sunday ,26 February

US rig count increases

GMT 06:01 2017 Sunday ,26 February

BRIC funds see inflows amid emerging equity boom

GMT 05:43 2017 Sunday ,26 February

Al-Gergawi quits Dubai Holding to focus on govt role

GMT 05:14 2017 Sunday ,26 February

Oil prices to average $50-$70 through 2022

GMT 14:44 2017 Saturday ,25 February

China overtakes US as Germany’s top trade partner
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Parliament considers solutions to overpopulation

GMT 20:27 2017 Monday ,27 February

Parliament considers solutions to overpopulation
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Aspires present the story of Egypt’s first president

GMT 06:18 2017 Sunday ,26 February

Aspires present the story of Egypt’s first president
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 06:28 2017 Tuesday ,28 February

Dumbphones survive rise of the smartphone

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday