Qatar to sustain remarkable 20 percent GDP growth rate
Qatar economy has managed to maintain record growth rates over the past few years, with the nation’s GDP reaching 50 billion Qatari riyals ($13.7 billion) in 2000, up from QR 42 billion in 1999 and at QR 38 billion in 1998, according to official sources. The sources estimate that Qatar’s GDP will further rise to over QR 60 billion by the end of 2001, reported Al-Sharq Al-Awsat.
This optimistic projection is due in part to a marked growth in liquefied gas exports in recent months. The rapid and sustained rise in oil prices has been a major factor as well in boosting Qatar’s earnings, as two-thirds of its income is derived from oil exports.
GDP stood at QR 16.339 billion in the first quarter of 2000, and at QR 15.226 billion in the first quarter of 2001.
Qatar's economy has been oil-based for the last half-century, leading to one of the highest per capita incomes in the world for its 566,000 inhabitants. — (Mena Report)
© 2001 Mena Report (www.menareport.com)