DOHA
In line with the projections of the IMF, who stated of Qatar growth would slow to about 6 percent for this year, with the non-energy sector is growing faster than the energy industry, the communications sector contribution to GDP 18 percent in the second quarter of 2012 by Qatar Statistics Authority grew, data said.
According to the data of the PARTY QSA, financial services posted a 12.1 percent increase and the construction sector, supported by the State increased investment in infrastructure – promotion of by 10 percent.
By contrast, the hydrocarbons sector expanded only 0.8 percent year-on-year in the second quarter of this year.
Qatar recorded an impressive 18.8 percent growth in 2011 and estimated expansion of this year is still expected to outperform most of the main trading partners of Qatar in Europe and Asia.
Initially on emerging markets by Barclays said that the end of gas from Qatar expansion plans production at the end of last year resulted in a sharp decline in the growth of the hydrocarbon of 15.7% y/y in 2011 to 4.6 percent y/y and 0.8% y/y in Q1 and Q2 12 of the 12, respectively.
"We expect to register approximately 2.9% hydrocarbon growth y/y in 2012, as LNG production increased only 6mn tons, to reach a plateau of 77mn in March 2012," the Barclays research report said.
The report further noted that not hydrocarbon growth, on the other hand, while slowing, an important motor of general economic activity on an anticipated 10.2 percent y/y in 2012.
According to senior economist at Barclays, Alia Moubayed, "on the one hand the hydrocarbon sector is unlikely to expand in the next three years, given the moratorium on further gas production increases until 2015 and the expected decline in oil production in the absence of additional investment in the oil fields of Qatar.
It is likely that the sector would stagnate and even shrink in 2014 and 2015, while on the other hand, the prospects for non-hydrocarbon growth remains robust, she said.
Post a Comment
Post a Comment