Qatar’s merchandise trade balance expected to reach $55 billion by 2025: FocusEconomics

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Qatar’s merchandise trade balance is expected to reach $55 billion by 2025, up from $42.2 billion this year, according to researcher FocusEconomics.
The country’s merchandise exports are estimated at $91.9 billion, while imports at $36.9 billion in 2025, FocusEconomics said in its latest consensus forecast.
Qatar’s GDP, FocusEconomics noted, will grow from $171 billion this year to $203 billion in 2025. The forecast for next year is $181 billion, followed by $187 billion (2023) and 195 billion dollars (2024).
GDP per capita, according to FocusEconomics, could reach $71,529 in 2025 from $61,075 this year. Next year it is forecast at $64,246, followed by $66,314 (2023) and $68,928 (2024).
The country’s budget balance (as a percentage of GDP) was estimated at 3.8 in 2025 compared to 3.9 this year, 4.8 (2022), 3.7 (2023) and 3.8 (2024).
Qatar’s public debt (as a percentage of GDP), according to FocusEconomics in its consensus forecast, will fall to 50.3 in 2025 from 62.5 (2021), 57.8 (2022), 55.2 (2023) and 52 .7 (2024).
Inflation based on the consumer price index (CPI) is expected to be between 1.6 and 1.8 until 2025.
According to FocusEconomics, the economy grew 4% year-on-year in the second quarter, “rebounding firmly” from the 2.5% contraction in the first quarter.
“The recovery was led by strong expansion in the non-energy sector, although the outcome was flattered by a base effect and underlying momentum was likely hampered by tighter Covid-19 restrictions early in the year. quarter,” the researcher said.
As for the third quarter (Q3), conditions seemed to be improving. The PMI was on average significantly higher in the first two months of the quarter compared to the second quarter (Q2).
“Additionally, rising crude oil and natural gas prices globally should have boosted the country’s most important energy sector, in turn bolstering overall economic activity,” FocusEconomics noted.
The country’s GDP, according to the researcher, is “expected to rebound” this year, thanks to stronger foreign demand and looser domestic restrictions that are supporting domestic activity.
Next year, growth is expected to “accelerate”, supported by a “healthier” energy sector and an “acceleration” in private spending.
A possible rollback of restrictions due to new variants of Covid-19 remains a key risk to the outlook this year and next.
FocusEconomics panelists see a 2.7% increase in GDP in 2021 and 3.9% in 2022, unchanged from last month’s forecast.
Inflation fell to 3% in August, after a five-year high of 3.1% in July. Pricing pressures are expected to remain subdued for the remainder of this year and into 2022.
FocusEconomics panelists expect inflation to average 1.6% in 2021 and 2.4% in 2022, unchanged from last month’s forecast.

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