Favorable energy prices and prudent fiscal management had led to a "rebound" in Qatar's international reserves to $40bn in November 2012 compared with a low of $14bn in November 2011, a QNB report shows.
Qatar's "healthy savings" are also reflected in the country generating a surplus in current account balance to $16.6bn in the third quarter of 2012, QNB Financial Services said in the report.
This indicates a year-on-year (y-o-y) growth of 9.3%, a good sign of the country's economic activity. A surplus in current account balance is indicative of an economy that is a net creditor to the rest of the world.
Qatar's trade balance, according to QNB Financial Services stood at $25.2bn in the third quarter of 2012, up 8.8% y-o-y. That Qatar exports exceed that of its imports is seen on its "balance of trade surplus".
The report shows Qatar's broad money supply (M2) reached QR388.5bn in November 2012, up 29.7% y-o-y with lift off provided by foreign currency deposits.
The report indicated that for major Asian countries — Japan, South Korea, India and China remained the top export destinations for Qatar.
Combined, they accounted for exports worth QR76.4bn ($21bn) in the third quarter of 2012, driven mainly by liquefied natural gas contracts.
Japan remained Qatar's top destination with QR32bn ($8.8bn) in the third quarter of last year. South Korea accounted for about QR25.5bn ($7bn), India QR12bn ($3.3bn) and China QR6.9bn ($1.9bn).
The EEC accounted for most of Qatari imports and accounted for QR5.8bn ($1.6bn) in the third quarter.
The other major import sources for Qatar in Q3, 2012 were the US QR2.5bn ($0.7bn), China QR1.8bn ($0.5bn), Japan QR1.45bn ($0.4bn) and the UAE QR1.45bn ($0.4bn).
Qatari exports to China are continuously rising and have increased by 68% y-o-y on the back of new LNG contracts.
According to QNB, the country's exports to Japan have shown a 22.6% increase y-o-y, South Korea 46% y-o-y and India 0.6% y-o-y.
Outside of Asia, the major export destination for Qatar was the European Economic Community in the third quarter. EEC accounted for QR12bn ($3.3bn) Qatari exports in the third quarter of last year.
Qatar's oil production averaged 726,000 barrels per day (bpd) in December, which shows a decline of 1.6% y-o-y, believed due to Opec quota restrictions.
The Qatari crude averaged $108.1 per barrel in December last year, which shows a decline of 1.6% y-o-y.
Quoting IMF figures, QNB Financial Services said the value of QIA assets was $175bn. According to the IMF, the policy of investing a share of the hydrocarbon wealth in global assets through the QIA has benefited global financial markets.
Qatar's total investment abroad has averaged $60bn each year between 2008 and 2012. Given projected benchmark oil prices, a similar magnitude of investment is expected during the next five years.