Qatar’s economic performance improved in first quarter

12/09/21

Qatar’s budget for the first quarter of this year was exceeded by QAR 200 million (USD 54.8 million). The surplus is partly related to the most recent increase in the oil prices, the level of budgetary control as well as the general expansion and an increment in revenues from other sectors.

The export of products manufactured in Qatar saw a significant increase in the first quarter of 2021 as compared to the first quarter of 2020. At a rate of 181 percent, industrial gases were one of the six most prominent commodities to have made it to the international market. Lutreine was the second product to have seen an increase at a rate of 84.4 percent during the period. Paraffin and other chemical derivatives increased by 29 percent and 22.1 percent respectively. At a rate of 5.3 percent and 3.5 percent, aluminum and petrochemicals were the last two commodities that saw a respective increase in export levels.

The elevated levels in international trade coupled with internal developments signal the recuperation of the Qatari economy from the pandemic.

The economic growth is also attributed to the country’s leadership under His Highness Sheikh Tamim bin Hamad Al Thani, the Emir of the State of Qatar, and the level of transparency as well as the conformity to international standards. Many policies and procedures have been implemented to diversify Qatar’s economy. New laws have been enacted to permit up to one hundred percent foreign ownership in more sectors of the economy. The free zones provide a lot of incentives for national and international businesses. Foreigner investors are permitted by law to invest in real estate in designated areas.

The 2022 FIFA World Cup and other large-scale sporting and non-sporting events before and after have brought a significant concentration and improvement to the infrastructure in the country.

Business Start Up Qatar collaborates and cooperates with the key stakeholders to improve the ease of doing business in the country. Please click on the link to learn more about latest developments in the State of Qatar as well as the initiatives of Business Start Up Qatar.

Other News

BSUQ News 111 - Thumb

LNG expansion will positively affect Qatar’s economic growth

Qatar’s plans to expand the Liquefied Natural Gas (LNG) capabilities and capacities promise a major boost to the growth of the national economy. The expansion results in a projected surplus between 2021...

Read more
BSUQ News 109 - Thumb

Investments in digital sector at all-time high in Qatar

Qatar has witnessed a lot of investment in the digital sector in line with the digital transformation of the country and the establishment of a knowledge-based economy as set out in the [Qatar National...

Read more
BSUQ News 108 - Thumb - Old

Qatar prepares for additional reforms to attract more FDI

With the world’s economy coming to a near standstill in 2020, economists from around the world have shared various analyses into how national economies will perform after this impasse related to the...

Read more
BSUQ News 107 - Thumb - Old

Qatar stakeholders continue to support SMBs and SMEs

The collaboration and cooperation of the public sector and the private sector will strengthen the position of the State of Qatar as a hub for business, trade and investment in the Middle East.

The...

Read more
BSUQ News 106 - Thumb - New

Qatar issues new travel and return policy

Qatar`s Ministry of Public Health has announced a new travel and return policy that waives hotel quarantine requirements...

Read more
BSUQ News 105 - Thumb - New

Qatar expands trade and investment relations with Russia

Qatar and Russia celebrated the St. Petersburg International Economic Forum (SPIEF 2021) in Russia in June, where the State of Qatar was represented as a “guest country”.

SPIEF...

Read more
BSUQ News 104 - Thumb

M7 and QSTP partner to target Qatar’s fashion and design sectors

M7 and Qatar Science & Technology Park (QSTP) have announced a partnership to strengthen Qatar`s entrepreneurship ecosystem.

The agreement provides for M7, an affiliate...

Read more
BSUQ News 103 - Thumb

Contracts in construction at the top of the mega projects in Qatar

A Qatar International Centre for Conciliation & Arbitration (QICCA) webinar discussed...

Read more

Page Break