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. GDP Annual Growth Rate in Qatar averaged 6.01 percent from 2009 until 2019, 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.
GDP Annual Growth Rate in Qatar is expected to be 2.80 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 3.00 in 12 months time. In the long-term, the Qatar GDP Annual Growth Rate is projected to trend around 2.50 percent in 2020, according to our econometric models.