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FINANCIAL NEWS
Qatar’s 2010 nominal GDP surges by 30.2%
16 Oct 2011
(MENAFN) Qatar’s central bank said that due to higher oil prices and growing gas exports, last year, the country’s nominal gross domestic product (GDP) surged by 30.2 percent from 2009’s USD97.5 billion to USD126.9 billion, reported Arab News.
The bank added that the country’s hydrocarbon sector hiked by 50.3 percent, whereas non-oil GDP rose by around 13.8 percent.
It also said that the hydrocarbon sector accounted for 51.7 percent of Qatar’s GDP in 2010 compared with 44.8 percent in the previous year following a hike of 54.9 percent in 2008.
It is worth noting that Qatar’s budget surplus reached around USD6.3 billion, and the current account of the balance of payments reached about USD21 billion.
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