Saturday, March 30, 2013

Qatar economy grew 6.2 percent in 2012, 6.6 pct in last quarter


Qatar's rate of economic growth more than halved last year to 6.2 percent as a surge in global oil prices abated, but its construction, finance and manufacturing sectors expanded by a around a third and should grow again this year.

Output in mining and quarrying, which includes oil and gas and accounts for almost half of the Arab Gulf state's GDP, rose only 1.7 percent last year following a surge in oil prices which drove the economy overall to 13 percent growth in 2011, the country's statistics authority said.

But the construction and finance sectors, which each account for more than a tenth of GDP, both grew by 34 percent, while manufacturing expanded by 28 percent.

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