Country Report Qatar June 2011

Outlook for 2011-15: External sector

After narrowing sharply in 2009, the current-account surplus recovered in 2010, reaching an estimated 13% of GDP. The surplus will reach record levels during the forecast period, averaging 30.7% of GDP in 2011-15. The surplus will be driven by strong export earnings growth in 2011-12, of 43.5% a year, and relatively flat imports in the first half of the forecast period, as rising demand for consumer goods from a growing population only just offsets falling capital goods imports as the gas industrialisation programme winds down. The increase in exports will be driven mainly by new LNG, GTL and oil production coming on stream, which will cause the trade surplus to surge to US$67.7bn in 2011, and to widen further to an average of US$79.8bn in 2012-15. With workers' remittances rising and income debits surging as foreign companies' profits recover, net non-merchandise outflows will remain substantial over the forecast period.

© 2011 The Economist lntelligence Unit Ltd. All rights reserved
Whilst every effort has been taken to verify the accuracy of this information, The Economist lntelligence Unit Ltd. cannot accept any responsibility or liability for reliance by any person on this information
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