Qatar GDP Annual Growth Rate

Last Release

Sep 30, 2022

Actual

4.3

Units In

6.3

Frequency

Quarterly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
32.9 Mar 2010	-17.2 Mar 2019	4.35 %	2009-2022	Qatar Statistics Authority

As Qatar has vast oil and natural gas reserves, mining is the main driver of the economy, contributing 58 percent of GDP. The second biggest sector is Services which accounts for 28 percent of total output. Within services the most important segments are: finance, insurance, real estate and business services (12 percent); government services (7 percent) and trade, restaurants and hotels (6 percent). The remaining 14 percent is contributed by manufacturing and construction.

Latest Updates

The economy of Qatar advanced by 2.0% year-on-year in the third quarter of 2024, following a 0.8% expansion in the previous quarter. It marked the fastest growth since Q1 of 2023, amid increasing diversification in Qatar's economy. The upturn was driven by growth in non-mining activities, mainly in construction (7.7%), financial and insurance activities (10.6%), transport and storage (5.4%), wholesale and retail trade (3.5%), and real estate (3.4%). By contrast, manufacturing shrank by 2.7%. Meanwhile, mining and quarrying activities contracted by 2.3%.Quarter-on-quarter, the economy grew by 1.9%, following a 1.0% expansion in the previous quarter.