FINANCIAL NEWS

Qatar, Germany to bolster economic ties

22 Apr 2015

(MENAFN) The economic relations between Qatar and Germany are yet to witness an annual development with the EU country accounting for 7.3 percent of Qatar’s foreign trade, Gulf Times reported.

According to data, the German automotive industry represents 25.8 percent of its total exports to Qatar, the machinery industry is second with 20.8 percent, chemicals is third with 10.8 percent and electrical engineering is fourth with 9.45 percent.

As for imports, Germany relies on Qatar for liquid natural gas, which represents 60 percent of its total imports from Qatar. Qatar, on the other hand, relies on Germany for cars and car parts.

“German exports are comparatively stable, because the German economy is always looking to expand its products to new or emerging markets, which mostly have low political and economic risks.” An economic official said.

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