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 expanded by 6.1% year-on-year in the final quarter of 2024, accelerating from a 2% growth in the previous quarter. The Secretary-General of the National Planning Council, Dr. Abdulaziz bin Nasser Al Khalifa, confirmed that the Qatari economy continues to experience remarkable growth, sustaining the country's progress toward sustainable development and economic diversification in line with the National Development Strategy 2024-2030. Hydrocarbon activities advanced by 6.2%, while non-hydrocarbon sectors expanded by 6.1%, contributing significantly to GDP. Among non-hydrocarbon sectors, strong growth was observed in accommodation and food services (14.7%), financial sector (11.1%), wholesale and retail trade (9%), real estate (6.3%), and construction (9.6%). In 2024, the economy grew by 2.4%.