Qatar GDP to scale up to $208bn in 2022: Focus Economics
November 30 2017 09:24 PM
Qatar economy
“Exports of oil and gas have been unaffected by the dispute,” Focus Economics said.

*Per capita GDP set to reach nearly $74,000 in 2022 from $57,145 this year

Qatar’s GDP will exceed $156bn this year and scale up to $208bn in 2022, Focus Economics has said in its country report.
Per capita GDP will reach nearly $74,000 in 2022 from $57,145 this year, the report said.
The country’s gross domestic product will exceed $166bn next year, $175bn in 2019, $185bn (2020) and $196bn in 2021.
According to the report, the per capita GDP will reach $59,647 next year, $62,242 in 2019, $65,689 (2020) and $69,642 in 2021.
Qatar is set to see heightened economic activities over the next five years with a projected increase in both its exports and imports.
Exports this year will exceed $63bn and account for $66.2bn next year, followed by $72.2bn (2019), $78.7bn (2020), $85.6bn (2021) and $92.9bn in 2022.
Imports this year, according to Focus Economics, will reach $29.3bn and $32.2bn in 2018, $32.9bn (2019), $35.1bn (2020), $38.1bn (2021) and $41.8bn (2022).
Focus Economics estimates that Qatar’s international reserves will account for $27.4bn this year, $27.3bn next year, $25.3bn (2019), $27.4bn (2020), $28bn (2021) and $28.5bn (2022).
The current account balance as a percentage of the country’s GDP will be 1.2% this year, 1.7% (2018), 3.1% (2019), 3.2% (2020), 3.4% (2021) and 3.5% (2022).
The country’s fiscal balance as a percentage of its GDP will be -4.4% this year, -2.7% (2018), -1.8% (2019), -1.8% (2020), -1.4% (2021) and -1% (2022), Focus Economics said.
Public debt (as a percentage of its GDP) will be 53.7% this year, 54.3% in 2018, 56.7% (2019), 56.4% (2020), 56% (2021) and 55.6% (2022).
Qatar’s industrial production surged 7.4% at the end of the third quarter in annual terms, driven by a rebound in the country’s mining sector, the report has shown.
This is in contrast to a 2.2% drop in industrial production in the second quarter in annual terms, Focus Economics said.
Recent indicators suggest that the Qatari economy “fared relatively well” in the third quarter (Q3), despite the ongoing diplomatic issues with a Saudi-led coalition.
“Moreover, exports of oil and gas have been unaffected by the dispute,” Focus Economics said.
The report said Qatar’s economic growth will accelerate next year on the back of resilient global growth.
“Nevertheless, the economy will continue to suffer from the economic sanctions imposed by its neighbours, limiting its recovery,” Focus Economics said even as its panellists forecast growth of 3.1% next year, which is unchanged from last month’s projection.
In 2019, the economy is seen expanding 2.9%, Focus Economics said.
The report showed consumer prices rose 0.2% in October on higher costs for recreation and transportation, contrasting September’s 0.5% drop.
The Focus Economics panel projects that Qatar’s inflation will average 2.9% in 2018 and 2.7% in 2019.
The country’s population, as per the report, will remain static at 2.8mn between 2018 and 2022. The current population is about 2.7mn.

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