BREAKING NEWS

At least 23 killed in Russian missile strike in Ukraine FAA says Boeing has not completed work needed for 737 MAX 7 approval Blast at education institute in Afghan capital kills 19 Qatar to host AFC U23 Asian Cup 2024

Qatar records QR124bn as value of exports of local origin in Q2, 2022

Santhosh V. Perumal

Friday، 12 August 2022 08:52 PM

The manufacturing sector, which contributed QR18bn to Qatar’s gross domestic product in the first quarter, saw as many as 33 new factories being set up in the second quarter of 2022, indicating the pace with which the country is advancing its diversification strategy.
The infographics posted on the Ministry of Commerce and Industry’s official Twitter handle showed that the value of exports of local origin amounted to QR124bn.



A KPMG report had said the government’s effort to boost small and medium enterprises sector manufacturing and the shifting focus towards non-hydrocarbon sector exports is expected to drive the production value for manufacturing sector by 30% from 2019 to 2025.
The ‘Industry Indicators Second Quarter 2022’ also showed that 98 new domestic products entered the market and the sector provided an additional employment to 1,638 factory workers.
The KPMG report had said the number of people employed is expected to grow from 85,000 to 101,000 in 2025.
The industrial manufacturing production index stood at 99.6 in May 2022, it said, adding 83% of the factories were in compliance with the industrials requirements.
The average time taken for licensing services within the industrial sector was three days, indicating the government efficiency and the ease of doing business.
"To drive industrial sector growth, Qatar should look beyond its boundaries and drive export of Qatari products to the global markets. Developing upstream and midstream industries can enhance raw material availability, substitute imports and strengthen SME competitiveness in the export market. Exports can help overcome the limitations of a small domestic market, drive resident population growth and enhance in-country value," said Adhishree Jakali, associate director, Advisory, KPMG Qatar.

Add Comment

There are no comments.

Top