Qatar continues to grow and maintains trade surplus

07/08/22

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 estimates of the gross domestic product (GDP). These estimates indicated a GDP of QAR 166.3 billion (USD 45.6 billion) in the first quarter of 2022 in a year-on-year comparison to last year’s estimate of QAR 162.2 billion (USD 44.4. billion). In contrast, GDP at current prices is estimated at QAR 197.7 billion (USD 54.2 billion) in Q1 of 2022 which represents a quarterly increase of 33% year-on-year.

Furthermore, Qatar's trade surplus has maintained its upwards trend over the first five months of 2022. According to the data published by PSA, the foreign merchandise trade balance (difference between total exports and imports) reached QAR 145.4 billion (USD 39.8 billion) driven by a consistent rise in exports.

Encouragingly, preliminary figures for 2022 indicate a surplus of QAR 36.6 billion (USD 10 billion), an increase of 120% or QAR 20.0 billion (USD 5.5 billion) compared to the same period last year. When compared month-on-month, the surplus increased by nearly QAR 2.4 billion (USD 66.0 million) or 7% percent from April 2022.

It was revealed at a recent United States Qatar Business Council (USQBC) business lunch that Qatar is one of the world`s most attractive investment destinations.

The panel discussion noted how the key stakeholders in Qatar have put tremendous emphasis on developing a sustainable investment ecosystem and prioritised its infrastructure development and incentives to attract foreign investors. Moreover, Qatar is also one of the best places in the world to find human talent. In 2021 the World Economic Forum ranked Qatar third globally in the ease of finding skilled employees.

Business Start Up Qatar offers a network of experts and specialists within the lifecycle of a business. We can offer expertise in Market Research and Assessment Qatar, Qatar Business Case, Qatar Business Model Development, Feasibility Study and Business Plan Qatar, Organizational and Operational Structuring Qatar, Qatar Sponsorship and Partnership, Company Formation Qatar among others.

Please click on the link to learn more about opportunities and possibilities in the State of Qatar as well as the initiatives of Business Start Up Qatar.

Other News

BSUQ News 132 - Thumb

Qatar attracts most FDI in ME and meets key partners

The Investment Promotion Agency Qatar (IPA) revealed that Qatar attracted 71% of all Middle East investment in the second quarter of this year.

The report provides ...

Read more
BSUQ News 131- Thumb

More interest in social entrepreneurship in Qatar

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
BSUQ News 130 - Thumb

Mega-solar power plants in Qatar for sustainability

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
BSUQ News 129 - Thumb

Qatar to build the most sustainable food supply chain

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
BSUQ News 128 - Thumb

Launch of labour re-employment platform in Qatar

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
BSUQ News 127 - Thumb

Investors confident in Qatar’s non-energy sectors

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
BSUQ News 126 - Thumb

SMEs are key contributors to Qatar’s economy

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
BSUQ News 124 - Thumb

Qatar generates home-grown start-up success stories

Qatar is prioritizing the growth of a start-up ecosystem as the country pursues the Qatar National Vision 2030 to become a sustainable innovation hub.

A number of [home-grown start-ups and scale-ups...

Read more

Page Break