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Economic Cooperation

 

Economic Cooperation

Economic and Trade Relations Italy-Qatar

The economic development of the State of Qatar has got, especially in recent years, the traits of a real economic boom, accompanied by moderate policies and the huge availability of energy resources (oil and especially natural gas) that contributed to making the country an important and strategic partner for the next decades, as well as one of the main for outlets for our goods throughout the Middle East.


The data on bilateral trade between Italy and Qatar have been growing for several years, although since 2008 our export to Qatar has experienced a significant decline, while import from Qatar has been on the rise, mainly due to the completion of the Adriatic LNG terminal in Rovigo, opened in autumn 2009.


The first ten months of 2013 showed a different trend from of the past 5 years, during which the total bilateral trade volume increased dramatically (reaching 3.35 bn euro at the end of 2012): in the period Jan-Oct 2013 bilateral trade reached 2.5 bn euro, declining by 4.1% with regard to the same period in 2012. On the one hand, Italy’s export to Qatar rose steadily from 795 mn euro (Jan-Oct 2012) to 916 mn euro (Jan-Oct 2013), marking a 15.2% increase (in 2012, after a few year decline, Italy's export to Qatar rose by 33.9% on yearly basis); while on the other hand, Italy's import from Qatar declined from 1.9 bn euro (Jan-Oct 2012) to 1.57 bn euro in the first 10 months of 2013 (-17.4 %). The export increase is mainly due to the ongoing substantial recover in Italy’s export of machinery and components, which rose from more than 200 mn euro in the first 10 months of 2012 to more than 290 mn euro in the same period of 2013 (+45%).


The substantial tenders awarded to Italian companies over 2012 and 2013, mostly in the infrastructure sector (the largest of which, valued 1.7 bn euro, has been awarded to a JV led by Impregilo-Salini within the Doha Metro project) also contributed to the positive framework. As for Italy’s import from Qatar, in 2013 the largest share (as it happened also in the previous years) came from the huge inflow of LNG that reached the Adriatic LNG Terminal in Rovigo (total value: around 1.1 bn euro in the first 10 months of 2013).

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