Qatar Economic Review 2006(September) - QNB

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In 2005, Qatar’s main import trade partner was Japan, accounting for 11.6% of the total value ofimports, followed by USA with 11.5% and Germany with 9.2% (Table 5.6). Imports from Japanincreased rapidly in 2005, mainly as a result of imports of vehicle and transport equipment, oil and gaspipelines, and machinery and mechanical appliances.Table 5.6Imports from MainTrade Partners(2001 - 2005)Country (QR Million) 2001 2002 2003 2004 2005Japan 1,303 1,553 1,866 1,141 4,263USA 1,884 1,923 2,171 2,102 4,232Germany 1,255 1,032 1,720 1,149 3,362Italy 1,339 1,333 1,326 740 2,365UAE 716 1,039 1,187 1,381 2,356UK 1,103 1,124 1,430 1,119 2,096Saudi Arabia 733 918 1,060 2,079 2,093China 396 467 605 668 1,892South Korea 602 528 883 409 1,658France 611 614 592 5,846 1,547Source: The Planning Council.Current AccountQatar’s trade balance grew by 26% in 2005 to reach QR 60.8 billion, from QR 48.3 billion in 2004. Qatar’strade balance has more than doubled over the past five years ending 2005 as a result of increasedindustrial exports in the form of oil, LNG, petrochemiclas and fertilisers, with an accompanying rise incommodity prices.The net outflow of services and private transfers has steadily increased over the years and in 2005reached QR 21.8 billion. Preliminary figures published by the Qatar Central Bank for the year 2005indicates a current account surplus of QR 39.0 billion ($10.7 billion), compared to a surplus of QR 27.5billion ($7.5 billion) in 2004 (Fig. 5.1).Overall Balance of PaymentsNet capital transfers amounted to QR 22.9 billion in 2005, resulting in an overall Balance of Paymentssurplus of QR 16.1 billion (Fig. 5.2). The current trend in Balance of Payments surpluses are likely tocontinue in the coming years on the back of strong exports and relatively high commodity prices.BALANCE OF PAYMENTS 36
Figure 5.1Qatar’s Current AccountBalance (QR Million) Source: The Planning Council & QCB.Figure 5.2Qatar’s Balance of Payments(QR Million) Source: The Planning Council & QCB.BALANCE OF PAYMENTS 37
Page 1: HEAD OFFICEQatar National Bank SAQ,
Page 5 and 6: Sovereign Ratings: State of QatarQa
Page 8 and 9: Economically Active Population by G
Page 10 and 11: 2. The Economy of QatarQatar’s ec
Page 12 and 13: The Non-Oil and Gas SectorThe Non-O
Page 14 and 15: 3.Key Economic Sectors3.1 The Oil S
Page 16 and 17: Blocks 1, 3, 4, 7 and 14 (Offshore)
Page 18 and 19: 3.2 The Natural Gas SectorQatar’s
Page 20 and 21: 2. Qatar Liquefied Natural Gas Comp
Page 22 and 23: QatargasTable 3.10LNG Summary (Mtpa
Page 24 and 25: Al Khaleej Gas ProjectA Development
Page 26 and 27: Qatar Steel Company (QASCO)QASCO is
Page 28 and 29: Ras Laffan Ethylene Cracker (RLEC)T
Page 30 and 31: The other leading educational insti
Page 32 and 33: Table 4.2Weightage on the ConsumerP
Page 34 and 35: Qatar’s principal export items in
Page 38 and 39: 6. Monetary PolicyThe monetary mana
Page 40 and 41: 7. Banking SectorThe Qatari banking
Page 42 and 43: TABLE 7.2Balance Sheets of Qatari B
Page 44 and 45: The Services sector recorded a grow
Page 46: 2005/06 BudgetPreliminary data on g
Page 49 and 50: The DSM market capitalisation decli
Page 51 and 52: 11. Investment IncentivesQatar welc
Page 53 and 54: 12. Qatar National BankQatar Nation
Page 55 and 56: 1APPENDIXQatar Statistical SummaryT
Page 58: QNB Branches and OfficesHead Office

Qatar Economic Review 2006(September) - QNB

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