Qatar’s 2011 GDP to grow 20%

26 Jul 2011

(MENAFN) The Arab Monetary Fund (AMF) said that Qatar would remain one of the world’s fastest growing economies due to its 2011’s real gross domestic product (GDP) that would go up 20% on high oil prices and gas exports, reported Emirates 24/7.

The AMF also said that increasing oil prices along with strong liquefied natural gas (LNG) exports contributed to Qatar’s 2010 current account surplus of around USD21.09 billion, forecasting that the balance would stay as high as 26.4 percent of the country’s GDP in 2011.

The Abu Dhabi based organization added that last year, the country’s exports reached USD67.2 billion, whereas imports reached around USD35.7 billion, where trade surplus reached USD31.5 billion.

It is worth noting that in 2010, Qatar’s GDP rose around 16.3 percent and it will grow in 2011 on higher crude prices and the completion of gas projects to produce a record of 77 million tones per year.

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