Qatar GDP Annual Growth Rate

Last Release

Sep 30, 2022

Actual

4.3

Units In

6.3

Frequency

Quarterly

Next Release

Dec 26, 2024

Time to Release

3 Months 21 Days 9 Hours

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 stagnated year-on-year in the fourth quarter of 2023, following an upwardly revised 1.5% expansion in the preceding three-months period, marking the lowest growth since Q1 2021. The decline was driven by contractions in key sectors, including mining and quarrying (-3.1%), information and communication (-6.2%), and financial and insurance activities (-1.3%). These downturns offset gains in other areas such as manufacturing (+0.7%), wholesale and retail trade; repair of motor vehicles and motorcycles (+5.3%), and public administration and compulsory social security (+5.6%). On a quarterly basis, the economy shrank by 0.6%, following a 4.3% growth in the prior quarter.