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Economic Indicators

3 Oct 2021

Qatar's Economy Grows by 4% in Q2 fueled by Non-hydrocarbon Sector

The Index Today

Sunday data shows that Qatar's economy grew by 4% year-on-year in the second quarter, according to official preliminary estimates, boosted mainly by the non-hydrocarbon sector.

The Gulf state's statistics authority said on Sunday that on a quarterly basis, however, gross domestic product (GDP) based on constant prices decreased at 0.3%.

Mining and quarrying GDP expanded 0.7% year-on-year in the second quarter, while non-mining and quarrying activities posted a 6.2% growth.

Accommodation and food service activities saw the biggest annual jump, growing 41%, reflecting the low base last year because of coronavirus-related restrictions.

Transportation and storage activities followed, with a 26.9% growth, while manufacturing grew 13.4%.

Qatar, a major liquefied natural gas (LNG) producer, posted a surplus of about $1 billion in the second quarter, the finance ministry said in August, citing higher than budgeted oil prices.

Clay pottery with table linens
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