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Qatar leads Arab states in economic indicators: QC

Qatar leads Arab states in economic indicators: QC

Tribune News Network
Doha
Qatar’s leading position in maintaining security and safety has enhanced investment climate in the country, Qatar Chamber (QC) has said in its economic newsletter for June.
The report, prepared by QC’s Researches and Studies Department, outlined the advanced rankings of Qatar in many international development indicators.
According to the Arab Monetary Fund, Qatar topped Arab countries in participation of woman in labour force with about 58 percent followed by Kuwait with 49.3 percent.
Qatar ranked first in the Middle East and North Africa (MENA) region and 27th globally in Global Peace Index for 2020, which is issued by the Institute for Economics and Peace in Sydney. The country ranked first in the Arab world and 16th globally in the societal safety and security index, making Qatar one of the 20 safest countries in the world.
The state also ranked 31st globally in the economic freedom index among 168 countries, according to the 2020 Index issued by the Heritage Foundation in Washington in Global Finance Magazine.
The report pointed out to the development of the industrial sector in the country during the last few years and its remarkable successes despite the regional and international economic challenges and variables.
Industrial segments such as chemicals, plastics and petrochemicals are expected to achieve significant expansions during the next few years in parallel with the continuous increase in the production of LNG from the North Field during the upcoming years, it said.
The newsletter included a report on the state’s foreign trade for April and trade of the private sector according to the certificates of origin issued by the chamber.
According to the figures of The Planning and Statistics Authority for April 2020, the total the value of foreign merchandise trade statistics amounted to QR19.3 billion.
In April 2020, the total exports of goods including exports of goods of domestic origin and re-exports amounted to around QR11.8 billion, while the Qatari imports during the same month amounted to about QR 7.5 billion. Therefore, the foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR 4.3 billion.
In April 2020, China was the leading country of origin of Qatars total foreign trade including imports and exports with about QR2.8 billion, a share of 14.5 percent of the total foreign trade. According to the certificates of origin issued by the chamber in April, the private sectors exports reached QR 572 million.
Exports through the ‘General Model’ certificate of origin form constituted the largest value at QR298 million, followed by exports through GSP a total value of about QR 178 million and GCC model with a value of about QR 45 million.
Exports through the Unified Arab certificate came in the fourth place with a value of QR 43 million, followed by the Unified GCC Certificate of Origin to Singapore which amounted to QR 8 million.
The newsletter also highlighted a study conducted by the QC’s Food Security and Environment to identify the production inputs required for plant and animal farms during the current phase.

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