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QNA
Doha
Qatar continues to rank very high on various economic indices as it secured fifth place globally in economic performance in the World Competitiveness Yearbook 2018 published by the International Institute for Management Development (IMD).
According to the yearbook, Qatar is also ranked 10th in government efficiency, 13th in business efficiency and 38th in infrastructure.
And Qatar notching up 14th rank among 63 mostly high-income countries confirms Qatar's strong performance across various fields.
The evaluation is based on a range of statistical indicators collected from different local and international sources, as well as from opinions collected via surveys distributed to more than 200 local business leaders, who provided their views on Qatari economy's competitive position.
This ranking has been positively influenced by many factors including strong economic performance as represented by Qatar's low unemployment rate, and the high percentage of gross fixed capital formation (capital investments) and saving to GDP, the high percentage of trade balance to GDP, and the high level of overall productivity.
The assessment of Qatar's competitiveness in IMD World Competitiveness Yearbook 2018 is a collaborative effort of IMD and the Ministry of Development Planning and Statistics.
Minister of Development Planning and Statistics HE Dr Saleh bin Mohammed al Nabet said,"These results confirm that our overall performance is solid, and they will certainly help us to identify those areas where we need to consolidate gains and make further improvements."
"Qatar's Second National Development Strategy (2018-22) sets out clear goals in the areas of economic infrastructure and private sector development that will lead to economic and social growth. Qatar has no option but to diversify its economy. If it is to achieve this, we must continuously work to increase efficiency and productivity and improve our international competitiveness. These results show us where we need to increase our efforts and improve further. The IMD findings will be carefully studied and, along with other indicators, will help us identify the area where we have to exert efforts to bolster our economy further," he added.
