Black Friday Sale! Save huge on InvestingProGet up to 60% off

Qatar's economy grows 4% in Q2 boosted by non-hydrocarbon activities

Published 2021-10-03, 02:42 a/m
© Reuters. Cars drive on a road leading to Hamad International Airport in Doha, Qatar June 5, 2017. REUTERS/Stringer/Files
NG
-

DUBAI (Reuters) - Qatar's economy grew 4% year-on-year in the second quarter, according to official preliminary estimates, fuelled mainly by the non-hydrocarbon sector.

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

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%.

© Reuters. Cars drive on a road leading to Hamad International Airport in Doha, Qatar June 5, 2017. REUTERS/Stringer/Files

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.

In January it reached a breakthrough on a three-year old dispute with Saudi Arabia and three other Arab countries that had imposed a diplomatic, trade and travel embargo.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.