Page Content
Results of the Annual Financial Sector Survey, 2011 were officially published. The financial sector includes activities of commercial banks, insurance companies, financing investment institutions, real estate developers as well as services auxiliary to financial intermediations (brokerage in securities, exchange agencies ..etc.). A highlight of key results of the survey is provided in this press release.
The financial sector achieved an output of 39.8 billion riyals, showing an annual growth rate of 17.4% compared to previous year. The generated value added amounted to 35.1 billion riyals, representing 5.6% of the economy’s GDP. Commercial banks were the main contributors with an output of 24.9 billion riyals and value added of 22.6 billion riyals, an annual growth rate of 23.6%, followed by financing investment institutions, real estate developers as well as services auxiliary to financial intermediations with an output of 13.2 billion riyals and a value added of 11.1 billion riyals, an annual growth rate of 11.6 %. Total employment in this sector was 15 519 persons. Their gross annual salaries reached 4.4 billion riyals, an average of 285 013 riyals p.a. per employee. Gross value added generated per worker reached 2.3 million riyals, showing an annual growth rate of 15.1%.Within the frame of serving the goals of the National Strategy for the Development of Statistics (NSDS),Qatar Statistics Authority (QSA) regularly conducts comprehensive annual and quarterly economic surveys to collect aggregated and detailed data on the different types of economic activities practiced in the country, following international recommendations, concepts, and definitions. The surveys provide basic data for the preparation of the gross domestic product (GDP) and national income estimates as well as other economic indicators. Click on the pdf icon to view the main aggregates and economic indicators of the financial sector in 2010 and 2011.
QSA takes this opportunity to express thanks and appreciation to all proprietors and staff of establishments for their cooperation as well as for the timely response.