Qatar is expected to return to economic growth in 2021 due to its robust economic reforms and the continued increase in demand for oil and gas as countries emerge from the pandemic and economies re-open. These factors have led to an improvement in the recovery of the Qatar Stock Exchange which has crossed the 10,000 point mark and closed almost 2% up year-to-date.
The growth of new businesses or projects has been another contributing factor and analysts are projecting 2.5% growth for Qatar’s economy in 2021 compared to 4.5% expected contraction this year.
In addition, Qatar’s non-energy private sector seems to be set to end 2020 favourably according to the data in November Purchasing Managers’ Index (PMI). The output rose at the fastest rate since August 2020 and employment rates were the highest since January 2019. It marks a return to pre-pandemic levels amid strong performances in the manufacturing and construction as well as wholesale and retail.
The PMI indices are compiled from a survey of 400 companies in the private sector of the State of Qatar and covers the manufacturing, construction, wholesale, retail and services sectors.
The PMI rose to 52.5 in November from 51.5 in October. It reflects the improvement in operating conditions in the non-energy private sector.
Qatar`s manufacturing output is primarily exported to East Asia, where the effects of the pandemic have been milder than in the West.
The recovery has been promoted by the initiatives of the Qatar Central Bank which have included the guarantees for the banks in the country and the national guarantee programme to support the private sector.
Please click on the link and reach out to learn more about the trends in the State of Qatar and the initiatives of Business Start Up Qatar.
The Investment Promotion Agency Qatar (IPA) revealed that Qatar attracted 71% of all Middle East investment in the second quarter of this year.Read more
Qatar is seeing an increase in social entrepreneurs dedicated to developing solutions to community based problems.
At a recent event, representatives of key stakeholders in the community of Qatari businessmen...Read more
Qatar Energy Renewable Solutions recently awarded a gigantic solar energy power plant contract to South Korea’s Samsung C&T.
The QAR 2.3 billion (USD 630 million) Engineering, Procurement and Construction...Read more
In keeping with the United Nations Sustainable Development Goals 2030, Qatar has revealed its ambition to build a sustainable food supply chain. This project is also inspired by the government’s goal...Read more
Qatar Chamber(QC) has successfully launched its revised labour re-employment platform targeting the private sector.
The digital platform is administered in collaboration and cooperation with the [Ministry...Read more
Qatar Financial Centre (QFC) data indicates the non-energy private sectors rapid growth according to the latest Purchasing Managers’ Index (PMI) survey.
The rates of expansion in total activity, new...Read more
The State of Qatar`s small and medium enterprises (SMEs) represent 97% of registered private sector companies and contribute 16% to non-oil gross domestic product (GDP).
“The Report: Qatar 2022”...Read more
Qatar`s real economic growth rate has grown by 2.5% based on constant prices according to figures released by the Planning & Statistics Authority (PSA).
The real economic growth rate is based on preliminary...Read more