"Qatar’s overall balance of payments have swung to a $16bn surplus in 2012 from a $14bn deficit in 2011, which reflects changes in the country’s international reserves, the Qatar National Bank (QNB) said in a report.
The 2011 deficit was mainly due to large capital outflows for investment abroad and occurred despite the rapid expansion in exports revenue, which had almost doubled since 2008 driven by higher hydrocarbon prices and increased production of gas and related products.
“We expect the overall surplus to shrink slightly in 2013- 14, mainly owing to slightly lower hydrocarbon prices resulting in a lower current-account surplus,” QNB said in its Qatar Economic Insight 2013."
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