Qatar’s export continue to rise showing that the country’s economy has successfully defeated the blockade imposed by the siege countries.
According to the data released this week by Qatar Chamber, Qatar’s non-oil exports registered strong growth during August 2018 with the combined value reaching at QR2.26bn, recording a year-on-year increase of 26.1 percent compared to same month month last year.
The sharp rise in the export from Qatar demonstrate that countries around the globe have full trust on the products coming from local market. Rising exports also show that the Qatari products are of high quality. These export figures have come at a time when Qatar is moving fast on the path of self-sufficiency.
The rising trend in export comes in sync with the overall economic growth of Qatar. According to the data released by the Ministry of Development Planning and Statistics,
Qatar’s nominal GDP, measured at current prices, was estimated at QR171.51bn in the second quarter of 2018. it was a remarkable increase of 17.9 percent compared to the nominal GDP of QR145.50bn for the corresponding period last year.
According to Qatar Chamber report, Oman topped the list of non-oil exporting countries in August 2018 with a total exports of QR800.36m, representing 35.5 percent of the total value of non-oil exports during the month, followed by the Hong Kong with total exports of QR301.413m (13.3 percent). In third place was Belgium with QR164.66m (7.3 percent) and Singapore QR160.26m (7.1 percent).
Netherlands ranked fifth with exports amounting to QR128.10m (5.7 percent) of the total value of non-oil exports in August 2018. The first ten countries accounted for 87.9 percent of total non-oil exports in the said month.
On the other hand, the GCC countries (Sultanate of Oman and Kuwait) topped the blocs and the economic groups receiving the Qatari non-oil exports during August with total exports amounting to about QR812.64m, followed by the group of European countries including Turkey with exports worth about QR 646.75m.
The Group of Asian countries excluding Arab countries came in the third place with total exports amounting to QR 638.08m, followed by the group of Arab countries, excluding the GCC countries with total value of exports amounting to about QR83.15m, followed by North America, the African countries except the Arab countries and the South American countries with varying values.
The strong growth momentum in the Qatar’s economy shows that the country has become a role model for other countries.
