Posted on February 04, 2017
Qatar's December trade surplus increased 21.7 percent from a year earlier, its only monthly rise in 2016, according to official figures. The country's surplus rose to AED10.7 billion ($2.9 billion) in December from QR9.7 billion in November and up from QR8.8 billion in December 2015.
According to the latest data released by the Ministry of Development, Planning and Statistics, the increase was due to a sharp fall in imports in December. The data also showed that exports of petroleum gases and other gaseous hydrocarbons fell 6.6 percent to QR11.86 billion during the month. The International Monetary Fund (IMF) has forecast that Qatar's real GDP growth is expected to reach 3.4 percent in 2017 from about 2.7 percent in 2016 as the country effectively adjusts to the new reality of sustained lower energy prices.
In a research note, the IMF said the rise in 2017 growth reflects an expansion in the non-hydrocarbon sector due to World Cup-related spending and supported by added output from the new Barzan gas project. It added that during 2017–18, the Gulf state will see further subsidy cuts, increase in public fees, a moderate recovery in global commodity prices and the implementation of a VAT which will drive inflation, which is expected to moderate back to low levels over the medium term.
source: Arabian Business