Qatar economy expected to witness 2011 real GDP growth of 18.7%

15/02/2012 12:11 AST  Al Watan

Qatar continues to be one of the world largest growing economy, managing to report an 30.1 percent increase in nominal gross domestic product (GDP) and an estimated 16.6 percent growth in Real GDP for 2010. It benefits from its large natural gas reserves and oil reserves, which helped Qatar avoid reporting negative growth due to the financial crisis. Qatar nominal GDP grew at an astonishing 20.2 percent on a CAGR basis during the period 2006-10, while real GDP reported a CAGR growth rate of 16.0 percent during the same period. Qatar GDP measured at real prices reached 283.9 billion Qatari riyals, while GDP measured at current prices reached 463.0 billion riyals. Hence GDP per capita reached 74,206 US dollars in 2010, as compared to $58,393 in 2009. Qatar GDP has been marching at a fast pace since 1999 as the economy utilizes its hydrocarbon sector. In 1999, Qatar GDP was 45.1 billion riyals, and has gone up by 927 percent since then.

The increase in GDP of Qatar in 2010 is driven by hydrocarbon sector which make up for more than half of the country's GDP. Oil and Gas sector contribution to GDP reached 239.3 billion riyals in 2010, up 50.3 percent from 2009, this is due to the completion of major natural gas projects including LNG 6 and 7 trains which increased the capacity of LNG to 77 million tons and because of better oil prices which witnessed Qatar Marine increasing 42.6 percent during 2010. Oil and Gas sector maintain a 51.7 percent share of the GDP, the share increased from 44.8 percent enjoyed in 2009. However, Qatar is working on diversifying the GDP through various sectors including industry, construction, and real estate.

For more on this Click Here

Economic and Business News
2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | News Archive

Most Viewed Companies
Ticker Price Volume
SECO 14.3 4,551,563
GFH 0.19 30,000
ARTC 8.71 150,307,086
EMAAR 10.95 44,398,091
ZAIN.TASI 10.05 104,391,143
RIBL 34.9 959,092
STC 65.82 2,372,811
Recent News

Al Etihad Credit Bureau delayed as UAE banks fail to provide data
Banks have not supplied sufficient credit information to Al Etihad Credit Bureau, holding up the launch of a major tool in the UAE’s efforts to strengthen the financial system.

National Ba

Dubai’s first Bitcoin ATM opens up currency debate
The country’s first Bitcoin ATM has been activated as enthusiasts for the virtual currency rally to promote its wider use in the relatively untapped Middle East market.

Located in an office

Emaar declares Dh8 bn dividend in cash and bonus shares
Emaar Properties PJSC, the global property developer, today (April 23) declared a total distribution valued over Dh8 billion ($2.18 billion) in cash and bonus shares at its 16th Annual General Meetin

Which Dubai firm's share price has tripled this year? Market up 50%
Buoyed by a booming economic growth and the impending MSCI upgrade, Dubai’s stock market index today rose by 116 points, or 2.3 per cent, capping a year-to-date growth of more than 52 per cent in les

Nickel Rises for Fifth Day to 14-Month High on Supply Concern
Nickel climbed for a fifth day to a 14-month high on concern that global supplies will be disrupted as tensions mount in Ukraine and Indonesia’s ore export ban remains in place.

The contra

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend


Are you satisfied with your full-service broker?