The Gross Domestic Product (GDP) in Qatar expanded 0.90 percent in the first quarter of 2020 over the same quarter of the previous year.

GDP Annual Growth Rate in Qatar averaged 5.61 percent from 2009 until 2020, reaching an all time high of 32.90 percent in the first quarter of 2010 and a record low of -15.30 percent in the second quarter of 2009. This page provides the latest reported value for - Qatar GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Qatar GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020.

GDP Annual Growth Rate in Qatar is expected to be -1.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Qatar to stand at 5.50 in 12 months time. In the long-term, the Qatar GDP Annual Growth Rate is projected to trend around 4.00 percent in 2021 and 2.50 percent in 2022, according to our econometric models.

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Qatar GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.90 -0.60 32.90 -15.30 2009 - 2020 percent Quarterly

Calendar GMT Actual Previous Consensus TEForecast
2019-07-04 05:00 AM YoY Q1 0.9% 0.3% 1%
2019-10-01 06:00 AM YoY Q2 -1.4% 0.9% 2.2%
2020-04-08 12:25 PM YoY Q4 -0.6% -0.2% 2%
2020-07-31 12:00 AM YoY Q1 0.9% -0.6% -1.7%
2020-09-30 07:00 AM YoY Q2 0.9% -4.5%
2020-12-31 07:00 AM YoY Q3 -1.1%

News Stream
Qatar GDP Contracts 0.6% YoY in Q4
The economy of Qatar shrank by 0.6 percent year-on-year in the fourth quarter of 2019, following a 0.2 percent contraction in the previous period, mainly dragged by a 3.4 percent decline in mining & quarrying activities. Output also fell in information & communication (-9.4 percent); professional, scientific and technical activities; administrative & support service activities (-1.8 percent); manufacturing (-1.5 percent) and construction (-1.8 percent). Conversely, notable growth was recorded in public administration (11 percent); accommodation & food services (14.3 percent); utilities (40.3 percent); transportation & storage (9.4 percent) and financial services (7.3 percent). On a quarterly basis, the GDP decreased by 1.4 percent over the previous period.
Qatar Q2 GDP Contracts for First Time since 2009
The gross domestic product of Qatar shrank 1.4 percent year-on-year in the second quarter of 2019, following a 0.9 percent gain in the previous period and marking the first contraction since the third quarter of 2009. Negative growth was recorded from mining & quarrying (-1.9 percent), manufacturing (-7.4 percent), construction (-3.5 percent) and wholesale & retail trade. On the other hand, positive contributions to growth came from financial and insurance activities (3.4 percent) and public administration (2.7 percent). On a quarterly basis, the economy shrank 0.9 percent, after a 2.6 percent drop in the previous quarter.

Qatar GDP Annual Growth Rate
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.